Monetary Policy Week in Review – July 14, 2012

By Central Bank News
      The past week in monetary policy saw interest rate decisions by 11 central banks around the world, with five cutting rates, one raising its rate and the remaining five keeping rates unchanged.

The message from central banks was loud and clear: The euro area’s debt crises is creating nervousness in financial markets and the global economy is slowing down, leading to lower demand for commodities from many emerging economies. On the positive side, domestic demand remains solid in many countries and declining inflation is giving central banks room to cut interest rates.
 MONETARY POLICY DECISIONS:
COUNTRY
      NEW RATE
     OLD RATE
      RATE 1 YR AGO
BRAZIL
8.00%
8.50%
12.50%
S.KOREA
3.00%
3.25%
3.25%
JAPAN
0.10%
0.10%
0.10%
INDONESIA
5.75%
5.75%
6.75%
PERU
4.25%
4.25%
4.25%
SRI LANKA
7.75%
7.75%
7.75%
TAJIKISTAN
6.80%
8.00%
9.00%
ARMENIA
8.00%
8.00%
8.50%
KENYA
16.50%
18.00%
6.25%
LATVIA
3.00%
3.50%
3.50%
SERBIA
10.25%
10.00%
11.75%
NEXT WEEK:
  Looking at the central bank calendar for next week, there are expectations that South Africa may follow the trend toward lower rates while Canada is expected to keep rates on hold.
Jul-17
CAD
Canada
Bank of Canada
Jul-19
ZAR
South Africa
South African Reserve Bank
Jul-19
TRY
Turkey
Central Bank of Turkey
Jul-20
MXN
Mexico
Banco de Mexico
www.CentralBankNews.info

  

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