Monetary Policy Week in Review – 17 March 2012

The past week in monetary policy saw 13 central banks reviewing policy settings, with 3 banks changing rates; Vietnam -100bps to 14.00%, Mozambique -125bps to 13.75%, and Norway -25bps to 1.50%.  Meanwhile those that held rates unchanged were: Japan 0-0.10%, Russia 8.00%, USA 0-0.25%, Hong Kong 0.50%, Sri Lanka 7.50%, India 8.50%, Switzerland 0-0.25%, Rwanda 7.00%, Chile 5.00%, and Mexico 4.50%. Japan also announced enhancements to its loan program, and Central Bank News launched a new central banking links list series.

Looking at the central bank calendar, the week ahead features decisions from a number of emerging and frontier market economies; with the central banks of Thailand, Iceland, Nigeria, Egypt, Taiwan, and Colombia all meeting to review policy settings.  Also due out next week is the Reserve Bank of Australia’s monetary policy meeting minutes, and the Bank of England’s monetary policy committee meeting minutes.   There’s also speeches from Fed Chairman Ben Bernanke, and ECB chairman Mario Draghi.