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Monetary Policy Update of #NewZealand #Fiji #Brazil #Mexico #Russia

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new zealand monetary policy-30 april 2015-rupesh

fiji-30 april 2015-rupesh

brazil monetary policy-30 april 2015-rupesh

mexico monetary policy -30 april 2015-rupesh

russia monetary policy-30 april 2015-rupesh

#Mexico #Fiji #Russia #Thailand Monetary Policy Update

#BancodeMexico #BankofMexico #InterestRates #Mexico #Thailand #BahkPocchh #MonetaryPolicy #BankofThailand #Russia #Fiji #FijianDollar #ReserveBankofFiji #RussianEquityMarket #FinancialResearch #EconomicData #JhunjhunwalasFinance

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Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

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Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.
Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

 

Global Central Banks Highlights for Monetary Policy Rates for month of October 2014.

#NationalBankOfRwanda #Rwanda #CentralBankofIceland #Iceland #ECB #EuropeanCentralBank #Europe
#ReserveBankOfAustralia #Australia #BankOfIndonesia #Indonesia #NationalBankOfPoland #Poland
#BOE #BankOfEngland #CentralBankOfTajikistan #Tajikistan #CentralReserveBankOfPeru #Peru
#BankOfUganda #Uganda #BankOfKorea #SouthKorea #NationalBankOfSerbia #Serbia
#CentralBankOfEgypt #Egypt #CentralBankOfChile #Chile #CentralBankOfSrilanka #Srilanka
#BankOfMozambique #Mozambique #CentralBankOfNamibia #Namibia #BankOfCanada #Canada
#BankOfNorway #NorgesBank #Norway  #CentralBankOfPhillipines #Phillipines #CentralBankOfTurkey #Turkey
#BankOfIsrael #Israel  #BankOfMauritius #Mauritius #NationalBankOfAngola #Angola #BankOfAlbania #Albania
#RiksBank #CentralBankOfSweden #Sweden #NationalBankOfHungary #Hungary
#CentralBankOfBrazil #Brazil  #ReserveBankOfNewZealand #NewZealand
#ReserveBankOfFiji #Fiji  #CentralBankOfColombia #Colombia
#BankOfJapan #Japan #BankOfRussia #Russia #RussianFederation
#BankOfMexico #Mexico #America

#MonetaryPolicy #MPR #MonetaryPolicyRate
#InterestRate #RepoRate #PolicyRate #KeyRate

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Monetary Policy Week in Review for last week – Central Bank News

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Monetary Policy Week in Review – Mar 30, 2013: Chance of global crises eases as 3 banks cut rates, 8 hold, 1 raises – Central Bank News.

Last week 12 central banks took policy decisions with three banks cutting rates (Vietnam,Hungary and Georgia), eight keeping rates on hold (Israel, AngolaTurkeyMoroccoTaiwan,ZambiaCzech Republic and Romania) and Tunisia becoming the fifth central bank to raise rates this year.
    The main message gleaned from central banks last week was that the global economy continues to recover, but every time it seems to pick up a little steam, confidence is undermined by developments in Europe, the only major risk to a sustained recovery. 
    But like a resilient boxer, the global economy dusts itself off and gets back on its feet, adjusting to the fact that large bank depositors in Europe may have to share the costs of future bank bailouts with tax payers, the main lesson from Cyprus.
    After the shock from this major but ultimately positive policy shift, there was a sense of relief that Europe had muddled through, once again, and financial markets had taken the events in stride.
     “It appears that there has been a decline in the probability of a crises occurring, a development which has reduced the high level of uncertainty that prevailed in the last year,” the Bank of Israel said in its statement.
    But as both Israel and the Reserve Bank of Australia (RBA) acknowledged, the global economic picture remains mixed and “it is too early to say whether the improved market sentiment over the past six months is the beginning of a sustained recovery, or merely a temporary upswing.”
    The challenges facing Europe’s policy makers is considerable. Not only do they have to restore financial health to governments and banks, they must also find ways to strengthen economic growth at a time of growing challenges from emerging markets.
    “The renewed market tension associated with the handling of the sovereign and banking crisis in Cyprus in recent weeks has provided a reminder of the political, economic and social challenges of resolving the pervasive fiscal and banking sector problems,” the RBA said in its financial review.
     In the latest manifestation of the structural shift in the global economy – illustrated by a stagnating Europe and growing emerging markets – the leaders of Brazil, Russia, India, and South Africa and China agreed to establish a New Development Bank.
    The leaders of these five countries, known as the BRICS countries, acknowledged that their infrastructure has to be improved but currently there is insufficient long-term and foreign investment in capital stock.
    Acknowledging their role and responsibility for global governance, the BRICS leaders said a bank, which now will be established, would use global financial resources more productively and thus make a positive contribution in boosting global demand.
    They also agreed to establish a $100 billion financial reserve arrangement that would “help BRICS countries forestall short-term liquidity pressures, provide mutual support and further strengthen financial stability,” the leaders said in their March 27 Durban declaration.
     The Contingent Reserve Arrangement (CRA) would help strengthen the global financial safety net during times of market turmoil.
         
    Through the first 13 weeks of the year, 77 percent of the 125 policy decisions taken by the 90 central banks followed by Central Bank News lead to unchanged rates, marginally down from 78 percent after the first 11 weeks.
    Globally, 19 percent of policy decisions this year have lead to rate cuts, largely by central banks in emerging economies, a ratio that was steady from last week.
    Of the 24 rate cuts worldwide so far this year, 42 percent have come from central banks in emerging markets and the remainder from frontier markets and other countries.
    No central banks in developed markets have cut rates this year, but this is largely because many of those central banks slashed rates to effectively zero five years ago and then switched to various forms of so-called quantitative easing to stimulate demand.
LAST WEEK’S (WEEK 13) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE           OLD RATE        1 YEAR AGO
ISRAEL DM 1.75% 1.75% 2.50%
VIETNAM FM 8.00% 9.00% 14.00%
ANGOLA 10.00% 10.00% 10.25%
TURKEY EM 5.50% 5.50% 5.75%
MOROCCO EM 3.00% 3.00% 3.00%
HUNGARY EM 5.00% 5.25% 7.00%
GEORGIA 4.50% 4.75% 6.50%
TAIWAN EM 1.88% 1.88% 1.88%
ZAMBIA 9.25% 9.25% 9.00%
CZECH REPUBLIC EM 0.05% 0.05% 0.75%
TUNISIA FM 4.00% 3.75% 3.50%
ROMANIA FM 5.25% 5.25% 5.25%
Next week (week 14) features six central bank policy decisions, including Australia, Thailand, Uganda, Japan, United Kingdom and the euro area.
COUNTRY MSCI          MEETING               RATE        1 YEAR AGO
AUSTRALIA DM 2-Apr 3.00% 4.25%
THAILAND EM 3-Apr 2.75% 3.00%
UGANDA 3-Apr 12.00% 21.00%
JAPAN DM 4-Apr 0.10% 0.10%
UNITED KINGDOM DM 4-Apr 0.50% 0.50%
EURO AREA DM 4-Apr 0.75% 1.00%

 

Monetary Policy of Global Central Banks Week in Review – March 16, 2013 week end

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Monetary Policy Week in Review – Mar 16, 2013: Eleven central banks keep rates steady, Norway delays rate rise – Central Bank News.

 Last week 11 central banks took policy decisions with every single bank keeping rates on hold though Norway, as Canada in January, delayed a planned rate rises due to lower inflationary pressure from sluggish growth that continues to plague the global economy.
    Norway’s decision illustrates how central banks are uneasy with very low policy rates as they tend to encourage risk taking and fuel asset bubbles. Yet, the central banks feel they have little choice but to keep rates low with major downside risks dominating the global economy, keeping consumers and investors on edge and thus holding back demand and inflation.
    In addition to Norway, the central banks of Mauritius, Mozambique, Kenya, Serbia, New Zealand, Korea, the Philippines, Switzerland, Latvia and Russia kept rates on hold last week.
    Through the first 11 weeks of the year, 78 percent of the 102 policy decisions taken by the 90 central banks followed by Central Bank News lead to unchanged rates, up from 76 percent after 10 weeks, strengthening this year’s trend toward steady policy rates worldwide.
    Globally, 19 percent of policy decisions so far this year have lead to rate cuts, largely by central banks in emerging economies, down from 21 percent after the first 10 weeks, a policy rates continue to decline.
    But the pace of rate cuts is slowing as many central banks shift toward a more neutral stance to gauge the impact of last year’s rate cuts.
    Of last week’s 11 policy decisions, seven were from central banks that cut rates last year, including Kenya and Mozambique, among the most aggressive cutters
    Oil-rich Norway is experiencing growing household debt and house prices, and following a rate cut in March 2012, Norges Bank started in June to prepare markets for higher rates as inflationary pressures were expected to rise.
    But last August it started to push back the time frame for a rate rise and then in October a rate rise was delayed until sometime this year. Now, a rate rise has been postponed until next spring as inflation and economic growth remains lower than expected.
    But Norwegian debt and house prices continue to rise so the central bank, like New Zealand, is preparing to introduce a counter-cyclical buffer in an attempt to rein in banks’ willingness to extend credit and also strengthen banks’ ability to withstand a crises.
    While New Zealand’s strong currency, drought and fiscal consolidation is restraining growth, reconstruction after the 2010 Canterbury earthquake along with rising house prices are creating upside risks. Seeking to strike the right balance, the Reserve Bank of New Zealand said it expects to keep rates on hold through the year.
    Russia’s central bank struck a less hawkish tone last week, dropping its previous statements that the risk of a slowdown from tight money was minor and the economy was operating at close to potential.
    Instead, the Bank of Russia noted slowing economic growth, strengthening the impression – already boosted by the nomination of Putin aide Elvira Nebiullina as new bank president – that rate cuts are on their way.
     Switzerland also took note of the lack of inflationary pressure, trimming its inflation forecast to continued deflation this year and only a slight 0.2 percent rise in consumer prices next year, maintaining downward pressure on the Swiss franc.
    The contrast between Europe and Southeast Asia remains stark.
   Although the Bank of Korea underlined the downside risks to global growth from Europe and the U.S., it is looking ahead to rising inflation while the Philippines again cut rates on its Special Deposit Account (SDA) in an effort to stem the inflow of foreign funds and curb the rise in the peso.
    Fueled by ample global liquidity and low rates in advanced economies, many emerging markets with solid economic fundamentals are adjusting their policy framework to stem the flow of hot money yet still stimulate domestic growth.
    Like Turkey last year, the governor of Bangko Sentral ngPilipinas told journalists  that he is moving to an interest rate corridor system to help manage capital flows which not only puts upward pressure on currencies but also leads to asset bubbles.
    New Zealand’s central bank governor emphasized his concern over the strong kiwi dollar, warning markets that he would cut rates if the currency rises more than justified by the economic fundamentals.
    Meanwhile, Serbia – the only central bank worldwide to have raised rates this year in addition to Denmark – lived up to expectations and held rates after eight rate hikes despite the continuing rise in inflation.
    Last month the National Bank of Serbia signaled that it was starting to soften its tightening stance due to an expected drop in inflation, and this week it made good on that promise, saying that the last four months show that inflation is easing.
 LAST WEEK’S (WEEK 11) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE           OLD RATE        1 YEAR AGO
MAURITIUS 4.90% 4.90% 4.90%
MOZAMBIQUE 9.50% 9.50% 13.75%
KENYA FM 9.50% 9.50% 18.00%
SERBIA FM 11.75% 11.75% 9.50%
NEW ZEALAND DM 2.50% 2.50% 2.50%
SOUTH KOREA EM 2.75% 2.75% 3.25%
PHILIPPINES EM 3.50% 3.50% 4.00%
SWITZERLAND DM 0.25% 0.25% 0.25%
LATVIA 2.50% 2.50% 3.50%
NORWAY DM 1.50% 1.50% 1.50%
RUSSIA EM 8.25% 8.25% 8.00%
 Next week (week 12) features eight central bank policy decisions, including India, Nigeria, the United States, South Africa, Iceland, Egypt, Chile and Trinidad & Tobago.
    The U.S. Federal Reserve changed the time for announcing policy decision to 2 p.m. Eastern Standard Time from 2:15, with the press conference at 2:30 p.m.
COUNTRY MSCI          MEETING               RATE        1 YEAR AGO
INDIA EM 19-Mar 7.75% 8.50%
NIGERIA FM 19-Mar 12.00% 12.00%
UNITED STATES DM 20-Mar 0.25% 0.25%
SOUTH AFRICA EM 20-Mar 5.00% 5.50%
ICELAND 20-Mar 6.00% 5.00%
EGYPT EM 21-Mar 9.25% 9.25%
CHILE EM 21-Mar 5.00% 5.00%
TRINIDAD & TOBAGO 22-Mar 2.75% 3.00%



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