By Central Bank News
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
