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Showing posts with label PolicyRates. Show all posts
Showing posts with label PolicyRates. Show all posts
Thursday, 28 May 2015
Friday, 12 December 2014
Reserve Bank Of FIJI maintained its Policy Rate as on 27th November 2014
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| Reserve Bank Of FIJI Policy Rate as on 27th November 2014 |
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| Reserve Bank Of FIJI Policy Rate as on 30th October 2014 |
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| Reserve Bank Of FIJI Policy Rate as on 25th September 2014 |
Data compiled and released by the Central Bank of FIJI.
#AsiaPacific #Fiji #Suva #InterestRates #MonetaryPolicy #ReserveBankofFiji #PolicyRates
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Tuesday, 9 December 2014
The Central Bank of Angola maintains Base Rate as on 24th November 2014
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| Central Bank of Angola maintains Base Rate as on 24th November 2014 |
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| Central Bank of Angola maintains Base Rate as on 27th September 2014 |
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| Central Bank of Angola maintains Base Rate as on 29th September 2014 |
Data compiled released and by National Bank Of Angola
#Angola #MonetaryPolicy #BancoNacionalDeAngola #InterestRates #Luanda #PolicyRates
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Sunday, 19 October 2014
Monetary Policy Review for India and Romania as on 30th September 2014
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| Central Bank of Romania cuts its Policy Rate as on 30th September 2014 |
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| Reserve Bank of India maintains Repo Rate as on 30th September 2014 |
The #CentralBank of #Romania cut its policy rate by 25 basis points to 3.00% per annum on 30th September 2014
Data compiled and released by the Central Bank of Romania
#RBI #ReserveBankofIndia maintains Monetary Policy Rate as on 30th September 2014
#CRR = Cash Reserve Ratio
#SLR = Statutory liquidity Ratio
#MSF = Marginal Standing Facility
#Europe #NationalBankofRomania #Romania #IndiaCentralBank #MonetaryPolicy #IndiaEconomy #InterestRates #BankRates #PolicyRates #RepoRates
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Thursday, 5 June 2014
Iceland Central Bank holds Monetary Policy rates in the 4th week of May
21st May 2014
Iceland's central bank maintained its policy rates and cut its inflation forecast but raised the growth forecasts, saying "whether a change in the Bank's nominal interest rates is warranted in the near future will depend on the future path of inflation and inflation expectations."
In March the Central Bank of Iceland, which has held its benchmark seven-day lending rate at 6.0 percent since November 2012, toned down earlier warnings of the need for tighter monetary policy due to stronger-than-expected economic growth.
And while the central bank raised its growth forecast in its latest monetary bulletin, inflation and inflationary expectations have declined with the result that the bank's real effective interest rate has risen "markedly" and the previous slack in the monetary stance "has probably disappeared."
Iceland's headline inflation rate fell to 2.3 percent in April and averaged 2.5 percent in the first quarter compared with a first quarter 2013 average of 4.3 percent and 6.4 percent in first quarter 2012. The central bank targets inflation of 2.5 percent.
The Bank's effective real interest rate is about 3.0 percent, up just under one percentage point in the past year and above the rate in other industrialized countries. Financial markets have adjusted to this, the bank said, primarily because long-term inflation expectations are not yet firmly anchored.
The central bank revised down its inflation forecast for 2014 to 2.5 percent from its February forecast of 2.7 percent, the 2015 forecast to 3.1 percent from 3.4 percent, but raised the 2016 forecast to 3.3 percent from 3.2 percent.
The improved inflation outlook is mainly due to the stronger Icelandic krona and smaller rises in labour costs than previously expected.
Short-term inflation expectations have also declined by about one percentage point with a March survey of business executives projecting inflation two years ahead at 3.5 percent, the lowest survey valued since autumn 2008. But long-term inflation expectations have been more persistent, the bank said, with the 10-year rate of about 4.0 percent, broadly unchanged since February and May 2013.
The central bank expects economic slack to disappear by mid-2014, with inflation beginning to inch up as the year progresses, rising above 3.0 percent in the first half of 2015 when the effects of the appreciation of the krona will have tapered off and a positive output gap developing.
The central bank revised upwards its growth forecast, with Gross Domestic Product now seen expanding by 3.7 percent this year, up from 2013's growth of 3.3 percent and the February forecast of 2.6 percent.
GDP growth in 2015 is seen at 3.9 percent, up from 3.7 percent, while the 2016 growth forecast was revised down to 2.7 percent from 3.0 percent.
Although the central bank assumes that wage agreements from late last year will apply to most of the labour market, it said there was still some unrest in the market, causing uncertainty.
Higher economic growth could require increases in the bank's interest rates, but other measures, including tight fiscal policy, would help ease the need for tighter monetary policy and also help raise the national savings rate and lead to a more favorable current account balance, the bank said.
The bank's monetary policy committee has recently discussed changes to its policy instruments to improve liquidity management and help prepare for the liberalization of capital controls and the sale of central bank assets.
The bank has now decided to discontinue weekly sales of 28-day certificates of deposits, replacing them with two types of deposits that will be eligible as collateral for loan facilities. Each week, term deposits of one week will be offered at a fixed rate and each month the bank will offer term deposits of one month in an auction. The first auction will be June 4.
Iceland is still trying to exit capital controls that were imposed in 2008 after the collapse of the country's three biggest banks led to a plunge in the krona currency and the worst recession in six decades.
But last year the krona rose 10 percent against the U.S. dollar and this year it has continued to rise, though at a slower pace than last year.
Today the krona was quoted at 112.6 to the dollar, up 2.1 percent since the start of the year, with the continued rise in foreign tourists and the external trade surplus helping shore up the currency. The central bank has taken a more active role since last May by intervening in foreign exchange markets.
Iceland holds rate, raises growth, cuts inflation forecasts - Central Bank News
Iceland's central bank maintained its policy rates and cut its inflation forecast but raised the growth forecasts, saying "whether a change in the Bank's nominal interest rates is warranted in the near future will depend on the future path of inflation and inflation expectations."
In March the Central Bank of Iceland, which has held its benchmark seven-day lending rate at 6.0 percent since November 2012, toned down earlier warnings of the need for tighter monetary policy due to stronger-than-expected economic growth.
And while the central bank raised its growth forecast in its latest monetary bulletin, inflation and inflationary expectations have declined with the result that the bank's real effective interest rate has risen "markedly" and the previous slack in the monetary stance "has probably disappeared."
Iceland's headline inflation rate fell to 2.3 percent in April and averaged 2.5 percent in the first quarter compared with a first quarter 2013 average of 4.3 percent and 6.4 percent in first quarter 2012. The central bank targets inflation of 2.5 percent.
The Bank's effective real interest rate is about 3.0 percent, up just under one percentage point in the past year and above the rate in other industrialized countries. Financial markets have adjusted to this, the bank said, primarily because long-term inflation expectations are not yet firmly anchored.
The central bank revised down its inflation forecast for 2014 to 2.5 percent from its February forecast of 2.7 percent, the 2015 forecast to 3.1 percent from 3.4 percent, but raised the 2016 forecast to 3.3 percent from 3.2 percent.
The improved inflation outlook is mainly due to the stronger Icelandic krona and smaller rises in labour costs than previously expected.
Short-term inflation expectations have also declined by about one percentage point with a March survey of business executives projecting inflation two years ahead at 3.5 percent, the lowest survey valued since autumn 2008. But long-term inflation expectations have been more persistent, the bank said, with the 10-year rate of about 4.0 percent, broadly unchanged since February and May 2013.
The central bank expects economic slack to disappear by mid-2014, with inflation beginning to inch up as the year progresses, rising above 3.0 percent in the first half of 2015 when the effects of the appreciation of the krona will have tapered off and a positive output gap developing.
The central bank revised upwards its growth forecast, with Gross Domestic Product now seen expanding by 3.7 percent this year, up from 2013's growth of 3.3 percent and the February forecast of 2.6 percent.
GDP growth in 2015 is seen at 3.9 percent, up from 3.7 percent, while the 2016 growth forecast was revised down to 2.7 percent from 3.0 percent.
Although the central bank assumes that wage agreements from late last year will apply to most of the labour market, it said there was still some unrest in the market, causing uncertainty.
Higher economic growth could require increases in the bank's interest rates, but other measures, including tight fiscal policy, would help ease the need for tighter monetary policy and also help raise the national savings rate and lead to a more favorable current account balance, the bank said.
The bank's monetary policy committee has recently discussed changes to its policy instruments to improve liquidity management and help prepare for the liberalization of capital controls and the sale of central bank assets.
The bank has now decided to discontinue weekly sales of 28-day certificates of deposits, replacing them with two types of deposits that will be eligible as collateral for loan facilities. Each week, term deposits of one week will be offered at a fixed rate and each month the bank will offer term deposits of one month in an auction. The first auction will be June 4.
Iceland is still trying to exit capital controls that were imposed in 2008 after the collapse of the country's three biggest banks led to a plunge in the krona currency and the worst recession in six decades.
But last year the krona rose 10 percent against the U.S. dollar and this year it has continued to rise, though at a slower pace than last year.
Today the krona was quoted at 112.6 to the dollar, up 2.1 percent since the start of the year, with the continued rise in foreign tourists and the external trade surplus helping shore up the currency. The central bank has taken a more active role since last May by intervening in foreign exchange markets.
Iceland holds rate, raises growth, cuts inflation forecasts - Central Bank News
Tuesday, 8 April 2014
Georgia Central Bank holds Monetary Policy rates on geopolitical risk in the last week of March
26th March 2014
Georgia's central bank held its policy rate steady at 4.0 percent, saying it still believes there is a need for a gradual withdrawal of monetary stimulus but the policy rate was maintained due to the increased geopolitical risks and uncertainty.
The National Bank of Georgia, which raised its rate by 25 basis points in February after cutting by 150 basis points in 2013, said it still expects inflation to be between 5 and 6 percent in the second half of this year with aggregate demand expected to recover further.
Georgia's inflation rate rose to 3.46 percent in February, the fifth consecutive month of accelerating inflation after deflation in most of 2012 and 2013. The central bank targets inflation of 6.0 percent and said last month that there was no need to maintain an easy policy stance as economic growth was improving and it should continue to improve in the first half of this year.
The central bank's forecast is based on a balance of risks but it cautioned that the recent escalation of geopolitical factors and economic uncertainty pose a threat.
"In particular, the deterioration in the economic environment could affect the economy through several channels, including reduced demand for exports, investors' mood and lower remittances," the bank said.
Georgia, which gained independence from the Soviet Union in 1991, is located in the Caucasus region, bordering the Black Sea on the west, Turkey on the south and Russia on the north. The Crimean peninsula, which has been annexed by Russia from Ukraine, also lies is in the Black Sea.
Georgia's Gross Domestic Product grew by an annual 7.1 percent in the fourth quarter of 2013 and the bank said annual growth in January was estimated at 7.8 percent due to growing exports.
Exports from Georgia eased to US$ 216.15 million in February from $223.61 in January.
Georgia's lari currency depreciated by 4.6 percent against the U.S. dollar last year, raising the inflation rate by an estimated 1 percentage point. It continued to decline until late January when it started to rise. Earlier today it was trading at 1.74 to the U.S. dollar, steady since the end of 2013.
Georgia holds rate on geopolitical risk, but sees tightening - Central Bank News
Georgia's central bank held its policy rate steady at 4.0 percent, saying it still believes there is a need for a gradual withdrawal of monetary stimulus but the policy rate was maintained due to the increased geopolitical risks and uncertainty.
The National Bank of Georgia, which raised its rate by 25 basis points in February after cutting by 150 basis points in 2013, said it still expects inflation to be between 5 and 6 percent in the second half of this year with aggregate demand expected to recover further.
Georgia's inflation rate rose to 3.46 percent in February, the fifth consecutive month of accelerating inflation after deflation in most of 2012 and 2013. The central bank targets inflation of 6.0 percent and said last month that there was no need to maintain an easy policy stance as economic growth was improving and it should continue to improve in the first half of this year.
The central bank's forecast is based on a balance of risks but it cautioned that the recent escalation of geopolitical factors and economic uncertainty pose a threat.
"In particular, the deterioration in the economic environment could affect the economy through several channels, including reduced demand for exports, investors' mood and lower remittances," the bank said.
Georgia, which gained independence from the Soviet Union in 1991, is located in the Caucasus region, bordering the Black Sea on the west, Turkey on the south and Russia on the north. The Crimean peninsula, which has been annexed by Russia from Ukraine, also lies is in the Black Sea.
Georgia's Gross Domestic Product grew by an annual 7.1 percent in the fourth quarter of 2013 and the bank said annual growth in January was estimated at 7.8 percent due to growing exports.
Exports from Georgia eased to US$ 216.15 million in February from $223.61 in January.
Georgia's lari currency depreciated by 4.6 percent against the U.S. dollar last year, raising the inflation rate by an estimated 1 percentage point. It continued to decline until late January when it started to rise. Earlier today it was trading at 1.74 to the U.S. dollar, steady since the end of 2013.
Georgia holds rate on geopolitical risk, but sees tightening - Central Bank News
Wednesday, 2 April 2014
Nigeria Central Bankers holds Policy Rates but raises CRR to 15%
25th March 2014
Nigeria's central bank held its Monetary Policy Rate (MPR steady at 12 percent, as mostly expected, but raised the Cash Reserve Requirement (CRR) on private sector deposits by 300 basis points to 15 percent, saying "safeguarding short run macroeconomic stability under the circumstances required firm and bold measures."
Nigeria holds rate, raises CRR to 15%, bold moves needed - Central Bank News
Nigeria's central bank held its Monetary Policy Rate (MPR steady at 12 percent, as mostly expected, but raised the Cash Reserve Requirement (CRR) on private sector deposits by 300 basis points to 15 percent, saying "safeguarding short run macroeconomic stability under the circumstances required firm and bold measures."
The Central Bank of Nigeria (CBN), which has maintained its policy rate since October 2011 but in January again raised the CRR on public sector deposits, said the Monetary Policy Committee had taken note of the relative stability of the exchange rate of the naira "in the face of undue pressure" and taken its policy decision with a view to attaining price and exchange rate stability, the goal of transitioning to a low inflation environment and the need to retain portfolio flows.
"The Committee unanimously voted for further tightening of monetary policy but were divided on the instruments,"with some members voting to raise the MPR to attract further capital inflows while other members felt that such an increase could impact access to credit and negatively affect growth.
The CBN's committee voted by 5 to 4 to maintain the MPR and raise the CRR on private deposits. Nigeria's naira was hit by last month's suspension of Lamido Sanusi, the outspoken governor of the central bank by Nigeria's president. Sanusi has often criticized the government of corruption and has called for an investigation into billions of dollars in missing oil revenue.
The naira has depreciated by 3.2 percent against the U.S. dollar this year, trading at 165.2 today.
Nigeria's gross reserves declined to US$ 37.83 billion this month from $42.85 billion end-December, with the central bank attributing the decrease to the need to fund the foreign exchange market "in the face of intense pressure on the naira and the need to maintain stability."
Tight monetary policy is needed to consolidate recent gains in inflation, the central bank said, with the recent resurgence in core inflation reinforcing this view.
"Thus, prudent monetary stance would also facilitate better reserve and exchange rate management in an environment where Fed tapering increases pressure on emerging economies financial markets," the bank said.
Nigeria's headline inflation rate eased to 7.7 percent in February from 8.0 percent in January due to a moderation in food prices. But core inflation rose to 7.2 percent from January's 6.6 percent. The central bank targets inflation of 6.0 to 9.0 percent
Nigeria's economy remains robust, the bank said, with Gross Domestic Product growing by an estimated 6.89 percent in 2013, up from 6.58 percent in 2012, with the non-oil sector the main driver of growth in the fourth quarter.
The central bank projects 7.7 percent growth for fiscal 2014, with the relatively robust projection based on favorable conditions for increased agriculture, sustained outcome of banking sector reforms and government initiatives to stimulate the real economy
Nigeria holds rate, raises CRR to 15%, bold moves needed - Central Bank News
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