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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 Review for Bank of England , European Central Bank and Central Bank of Sweden as on 4th September 2014

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Bank of England maintains Bank Rate as on 4th September 2014
Bank of England maintains Bank Rate as on 4th September 2014
European Central Bank cuts Benchmark Refinancing Rate as on 4th September 2014
European Central Bank cuts Benchmark Refinancing Rate as on 4th September 2014
Sweden's Central Bank or  RiksBank maintains Repo Rate as on 4th September 2014
Sweden’s Central Bank or RiksBank maintains Repo Rate as on 4th September 2014

 

Monetary Policy Review for #BankOfEngland #EuropeanCentralBank and #CentralBankOfSweden as on 4th September 2014

Bank of England #BOE maintained its #BankRate at 0.5% per annum
and leaves asset purchase program at £375 billion .
Data compiled and released by Bank of England

European Central Bank cuts its Benchmark #RefinancingRate by 10 Basis Points to 0.05% per annum
and also cuts its #DepositRate by 10 Basis Points to -0.20% .
Data compiled and released by European Central Bank.

#RiksBank or #CentralBankOfSweden maintains #RepoRate at 0.25% per annum .
Data compiled and released by RiksBank

#Sweden #EuropeanUnion #ECB #England #MonetaryPolicy

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Global Central Banks Highlights for Monetary Policy Rates for the first week of September 2014.

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Global Central Banks Highlights for Monetary Policy Rates for the first week of September 2014.
Global Central Banks Highlights for Monetary Policy Rates for the first week of September 2014.

Global Central Banks Highlights for Monetary Policy Rates for the first week of September 2014.

#CentralBankOfEgypt #ReserveBankOfAustralia #CentralBankOfBrazil #BankOfCanada
#RiksBank #CentralBankOfKenya #EuropeanCentralBank #BankOfEngland #BankOfMexico
#Egypt #Australia #Brazil #Canada #Sweden #Kenya #ECB #England #Mexico #MonetaryPolicy

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Global Central Bank Monetary Policy Week in Review – Apr 20, 2013

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Monetary Policy Week in Review – Apr 20, 2013: One central bank raises rate, 1 cuts as inflation remains sticky – Central Bank News.

Last week six central banks took policy decisions with two major banks in emerging markets (Turkey and Brazil) changing their rates in opposite direction while the other four central banks (Canada, Sweden, Mozambique and Sri Lanka) kept rates steady as inflation remains sticky despite weak global growth.
    Brazil’s 25 basis point rate hike – well-flagged and overdue – was significant because it illustrates that inflationary pressures are building in some emerging markets, specifically Asian countries, and central bankers will defend their inflation-fighting credentials.
    Brazil’s move was in contrast to decisions by Canada and Sweden to further push back the time frame for rate rises, showing how the euro area’s severe crises is hampering economic recovery throughout advanced economies while growth in many emerging markets is accelerating.
    While inflation remains an issue in many emerging countries, disinflation – or deflation in the case of Japan – haunts many advanced economies as long unemployment lines holds down wage pressure along with excess industrial capacity.
    Sweden’s Riksbank specifically cited the need to keep policy rates low for longer than forecast because inflation will take longer to return to target than expected. For 2013 inflation is forecast to average a mere 0.1 percent.
    Weaker-than-expected growth is also holding back inflation in Canada, with the Bank of Canada now first expecting inflation to return to target by mid-2015, at least six months later than it expected in January.
   Turkey, which bounced back swiftly from the global financial crises but then was hit by slow growth last year, cut its rate by a larger-than-expected 50 basis points despite inflation above the central bank’s target.
    The latest central bank decisions came as policy makers gathered in Washington D.C. for the annual meeting of the International Monetary Fund.
    While the IMF trimmed its 2013 global growth forecast, it also said the global economy was taking on the characteristics of a three-speed recovery. Growth in emerging and developing markets is still strong, the U.S. is getting back on its feet, but the euro area is continuing to contract with adverse feedback loops between weak banks, weak sovereigns and low economic activity reinforcing each other.
    Through the first 16 weeks of this year, 77 percent of the 147 policy decisions taken by the 90 central banks followed by Central Bank News have lead to unchanged rates, the same ratio as after 15 weeks.
    Globally, 19 percent of policy decisions this year have lead to rate cuts – largely by central banks in emerging economies – unchanged from last week and slightly down from 20 percent the week before then.
 LAST WEEK’S (WEEK 16) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE         OLD RATE        1 YEAR AGO
MOZAMBIQUE 9.50% 9.50% 13.50%
SRI LANKA FM 7.50% 7.50% 7.75%
TURKEY EM 5.00% 5.50% 5.75%
BRAZIL EM 7.50% 7.25% 9.00%
SWEDEN DM 1.00% 1.00% 1.50%
CANADA DM 1.00% 1.00% 1.00%
Next week (week 17) features nine central bank policy decisions, including Hungary, Namibia, New Zealand, Philippines, Fiji, Japan (including the economic outlook), Mexico, Colombia, and Trinidad and Tobago.
COUNTRY MSCI              DATE               RATE        1 YEAR AGO
HUNGARY EM 23-Apr 5.00% 7.00%
NAMIBIA 24-Apr 5.50% 6.00%
NEW ZEALAND DM 24-Apr 2.50% 2.50%
PHILIPPINES EM 25-Apr 3.50% 4.00%
FIJI 25-Apr 0.50% 0.50%
JAPAN DM 26-Apr 0.00% 0.10%
TRINIDAD & TOBAGO 26-Apr 2.75% 3.00%
MEXICO EM 26-Apr 4.00% 4.50%
COLOMBIA EM 26-Apr 3.25% 5.25%

 

Sweden’s central bank held its benchmark repo rate steady at 1%

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Sweden holds rate, delays repo rate rise until H2 2014 – Central Bank News.

Sweden’s central bank held its benchmark repo rate steady at 1.0 percent, saying economic prospects were gradually brightening but monetary policy needs to remain “very expansionary” until the second half of 2014 because it will take longer time for inflation to start to rise toward the bank’s target.
    Although the Riksbank raised its forecast for economic growth this year, it cut its forecast for inflation, saying inflation was low due to weak demand, the stronger value of the Swedish krona in recent years and because companies have more difficulty in passing on higher costs to consumers.
    “Gradual increases in the repo rate are not expected to begin until the second half of 2014, which is around a year later than earlier forecast,” the Riksbank said.
    The Riksbank, which cut rates by 75 basis points in 2012, forecast an average repo rate of 1.0 this year and in 2014, down from its February forecast for a 1.5 percent repo rate in 2014. For 2015 the repo rate is now forecast to rise to 1.9 percent, down from a previous forecast of 2.2 percent.
    An even lower repo rate today would help inflation speed up toward the bank’s 2.0 percent target but “at the same time it would further increase the risk of imbalances building up,” the bank said.
    “The monetary policy conducted is expected to stimulate the economy and inflation at the same time as taking into account the risks linked to households’ high indebtedness,” it added.
    The decision to hold rates steady was widely expected by economists.
    The Riksbank forecast that Gross Domestic Product would rise by 1.4 percent this year, up from February’s forecast of 1.2 percent, then by an unchanged forecast of 2.7 percent in 2014, and then by 3.5 percent in 2015, up from a previous forecast of 3.1 percent.
    Earlier this month, the Swedish finance ministry forecast 2013 growth of 1.2 percent and 2014 growth of 2.2 percent. It also forecast that the repo rate would remain at 1.0 percent through 2014 and then rise to 1.75 percent by the end of 2015.
    In 2012 the Swedish economy expanded by 0.8 percent and in the fourth quarter of last year, GDP stagnated from the third quarter for annual growth of 1.4 percent, up from a rate of 0.7 percent in third quarter.
    Consumer price inflation is forecast by the Riksbank at only 0.1 percent on average this year, down from a previous forecast of 0.4 percent, and then rise by 1.4 percent in 2014, down from a previous forecast of 2.1 percent, before inflation rises to 2.7 percent in 2015.
    Deflation has started to take hold of Sweden with consumer prices unchanged in both March and January and down by 0.2 percent in February. In both November and December, inflation was a negative 0.1 percent, respectively.
    The Riksbank said the global economy was growing “at a relatively good pace,” with growth in the U.S. continuing and Asian developments strong. This is in contrast with economic crises in the euro area along with uncertainty and weak growth.
    “After a weak outcome at the end of last year, the Swedish economy is now showing a gradual recovery,” the Riksbank said, adding that sentiment among households and companies is picking up, and consumption and investments is expected to increase more quickly in the coming period.
    But the Riksbank cautioned that these brighter prospects, together with low interest rates, had boosted house prices and this is “expected to continue and to contribute to a faster increase in household debt in the coming period than was forecast earlier.”
    As at its previous meeting in February, two of the Riksbank’s board members had wanted the bank to cut rates. Deputy Governor Karolina Ekholm again wanted to cut the rate to 0.75 percent while Deputy Governor Lars E.O. Svensson again wanted the rate cut to 0.50 percent.
   
    www.CentralBankNews.info

Global Central Banks Monetary Policy Week in Review – Week ended Apr 13, 2013

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Monetary Policy Week in Review – Apr 13, 2013: Markets digest BOJ easing as 7 central banks hold rates and 1 cuts – Central Bank News.

Last week eight central banks took policy decisions with only one (Mongolia) cutting its rate while the other seven banks (Poland, South Korea, IndonesiaSerbia, Chile, Peru and Pakistan) kept rates on hold as markets continued to digest the Bank of Japan’s unprecedented monetary easing.
    Singapore’s Monetary Authority, which uses the exchange rate rather than interest rates to control inflation, also left its monetary policy stance unchanged.
    Global policy makers, such as the Federal Reserve’s Ben Bernanke and Christine Lagarde of the International Monetary Fund, have generally welcomed the BOJ’s expansionary move as a welcome contribution to global economic growth.
    Stocks markets have also rejoiced while currency markets have pushed down the value of the yen further, a move that may cause friction among Japan’s competitors, especially in Asia.
    Some of the additional money being pumped into Japan’s economy will also find its way into higher-yielding currencies, presenting central banks in those countries with the challenge of managing the inflows to avoid domestic asset bubbles and currency appreciation.
    Central banks in South America, such as Peru and Brazil, have been tackling these challenges for some time now and at meeting in Rio de Janeiro 10 of the region’s central banks said they were paying “special attention” to global liquidity.
    In its statement this week, the Central Bank of Chile again referred to an appreciation of its peso but did not sharpen its language from last month. This was viewed as a signal by the central bank that it is concerned over the currency’s level though not worried enough to start intervening, as it last did from January through December 2011.
    In addition to Chile, which merely said Japan’s quantitative easing was reflected in a depreciation of the yen, South Korea’s Monetary Policy Committee didn’t mince words, saying the weak yen would contribute to the country’s negative output gap.
    However, in its latest economic outlook, the Bank of Korea’s staff was more balanced, referring to both pluses and minuses from Japan’s move.
    Posing an upside risk from Japan’s move, the BOK outlook said economic growth could be stronger than expected while uncertainty surrounding the value of the yen – diplomatic words for depreciation – posed a downside risk to growth.
    The BOK surprised many observers by holding rates steady last week despite the confidence-sapping, sabre-rattling by its northern neighbor and a cut in its growth forecasts. But the bank argued that it was keeping a close eye on the geopolitical risks and the economy was continuing to grow, albeit at a weak level.
    Pakistan’s central bank laid out its balancing act succinctly. A decline in inflation has given it room to cut rates except for the fact that a rate cut could encourage an outflow of “speculative” capital that is dearly needed to repay foreign loans, including to the International Monetary Fund.
    Through the first 15 weeks of this year, 77 percent of the 141 policy decisions taken by the 90 central banks followed by Central Bank News have lead to unchanged rates, the same ratio as after the first 14 weeks.
    In fact, this ratio has remained largely stable this year, illustrating how many central banks – excluding those in the major advanced economies – find themselves in a bit of a sweet spot: Economic activity is slowly strengthening while weak global demand is keeping inflation under control.
    Globally, 19 percent of policy decisions this year have lead to rate cuts – largely by central banks in emerging economies and Japan as the first central bank in developed markets – down from 20 percent last week.
    Of the 27 rate cuts worldwide so far this year, 37 percent have come from central banks in emerging markets, while banks in other unclassified markets, such as Mongolia last week and Georgia in the previous week, have accounted for 44 percent of the cuts.
LAST WEEK’S (WEEK 15) MONETARY POLICY DECISIONS:
COUNTRY MSCI     NEW RATE         OLD RATE        1 YEAR AGO
MONGOLIA 11.50% 12.50% 13.25%
POLAND EM 3.25% 3.25% 4.50%
SOUTH KOREA EM 2.75% 2.75% 3.25%
INDONESIA EM 5.75% 5.75% 5.75%
SERBIA FM 11.75% 11.75% 9.50%
PERU EM 4.25% 4.25% 4.25%
CHILE EM 5.00% 5.00% 5.00%
PAKISTAN FM 9.50% 9.50% 12.00%
NEXT WEEK (week 16) features five central bank policy decisions, including Sri Lanka’s meeting that had been tentatively scheduled for last week, Turkey, Brazil, Sweden and Canada.
COUNTRY MSCI              DATE               RATE        1 YEAR AGO
SRI LANKA FM 16-Apr 7.50% 7.75%
TURKEY EM 16-Apr 5.50% 5.75%
BRAZIL EM 17-Apr 7.25% 9.00%
SWEDEN DM 17-Apr 1.00% 1.50%
CANADA DM 17-Apr 1.00% 1.00%