Monetary Policy Week in Review – July 21, 2012

By Central Bank News

The past week in monetary policy saw interest rate decisions by 4 central banks around the world, with just one, South Africa, cutting rates while the other four kept rates unchanged.
  Countries with solid domestic demand, such as Canada and Mexico, are so far able to shrug off the weakening global economy while those countries that are more exposed to Europe’s crises, such as South Africa, are cutting rates to stimulate economic activity.
LAST WEEK’S MONETARY POLICY DECISIONS:
COUNTRY
NEW RATE
OLD RATE
ONE YR AGO
CANADA
1.00%
1.00%
1.00%
TURKEY
5.75%
5.75%
5.75%
S.AFRICA
5.00%
5.50%
5.50%
MEXICO
4.50%
4.50%
4.50%


NEXT WEEK:
Looking at the central bank calendar for next week, there are expectations that Colombia will follow the trend of lowering interest rates to stimulate its economy but neither Israel, Nigeria, Thailand, or the Philippines are expected to follow suit.
  Hungary is now in talks with the IMF after the government passed amendments that restore the central bank’s independence.

COUNTRY
                      DATE
                  RATE
                  1 YR AGO
ISRAEL
23-Jul
2.25%
3.25%
HUNGARY
24-Jul
7.00%
6.00%
NIGERIA
24-Jul
12.00%
8.75%
THAILAND
25-Jul
3.00%
3.25%
NEW ZEALAND
26-Jul
2.50%
2.50%
PHILIPPINES
26-Jul
4.00%
4.50%
COLOMBIA
27-Jul
5.25%
4.50%


www.CentralBankNews.info

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