Saturday, 21 April 2012

Monetary Policy Week in Review - 21 April 2012

The past week in monetary policy saw two major emerging market economy's central banks cut rates; with India cutting by a surprise 50 basis points to 8.00%, and Brazil cutting an expected 75 bps to 9.00%.  The only other bank to adjust rates was Mongolia; hiking 100bps to 13.25%.  Meanwhile those that held interest rates unchanged were: Canada 1.00%, Chile 5.00%, Turkey 5.75%, Sweden 1.50%, and the Philippines 4.00%.
Looking at the central bank calendar, the week ahead sees the US Federal Open Market Committee (FOMC) meeting to determine its policy setting and forecasts; while it's unlikely to see further QE; people will be watching for further clues. Elsewhere the major banks meeting include the Bank of Japan and the Reserve Bank of New Zealand; both are unlikely to move, but the forex markets will be paying close attention. Israel, Hungary, and Mexico also meet to review monetary policy settings.

Apr-23
ILS
Israel
Bank of Israel
Apr-24
HUF
Hungary
The Magyar Nemzeti Bank
Apr-25
USD
United States
Federal Reserve
Apr-26
NZD
New Zealand
Reserve Bank of New Zealand
Apr-27
JPY
Japan
Bank of Japan
Apr-27
MXN
Mexico
Banco de Mexico

Source: www.CentralBankNews.info


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