The Russian ruble fell above 58 to the dollar today, hitting its weakest point of the day, just after the central bank cut interest rates for the fourth time this year by 150 basis points to 8%, a bigger-than-expected cut. . The ruble was 1.9% weaker against the dollar at 57.74, after briefly reaching 58.14 […]
Tag: interest rate
Surprise move by the central bank of Switzerland – Raises the key interest rate by 50 basis points
LAST UPDATE: 12:29 The Bank of Switzerland (SNB) raised its key interest rate for the first time in 15 years today, aligning its policy with other central banks in tightening monetary policy to combat rising inflation. According to Reuters, the central bank raised its key interest rate to -0.25% from -0.75%, which has been in […]
Major banks are revising their forecasts for interest rate hikes by the ECB
Economists are revising their forecasts for the course of interest rates in the euro area after yesterday’s announcement by the European Central Bank to raise interest rates by 25 basis points. But there are several differences between how fast the increase will be and how far the ECB is prepared to go. The ECB pledged […]
Weakening of the ruble after the reduction of interest rates by the Russian Central Bank
The Russian ruble weakened on Thursday as the central bank cut interest rates to 11% in an off-policy meeting and the fiscal period ended at the end of the month, although capital controls kept it trading not far from the multi-year high against of the euro and the dollar. The central bank cut its key […]
Central Bank of Russia: Reduces its key interest rate to 11%
LAST UPDATE: 10:46 Russia’s central bank cut its key interest rate to 11% from 14% on Thursday, the bank said in a statement after its emergency meeting today. The central bank, which has now cut its key interest rate cumulatively by 900 basis points since February, said it “keeps open the prospect of lowering the […]
T. Evans (Fed Chicago): I am in favor of steady interest rate hikes
Federal Reserve Chairman Charles Evans said Friday that he would continue to support the Fed raising interest rates by 25 basis points at a time until next March. Such a move would raise the Fed’s interest rate to about 2.5%, which Evans described as a “neutral” interest rate that neither boosts nor slows growth. Evans […]
Czech Republic: The key interest rate at the highest level since 2001
The Czech National Bank raised its key interest rate by 50 basis points to its highest level since 2001 on Thursday and said it was ready to tighten its policy further to keep inflation expectations steady as the war in Ukraine pushes prices higher. The central bank board voted 5-2 to raise the two-week CZCBIR […]