<![CDATA[Hedgehogs.net: Ken Yeadon's connections' blogs]]> http://www.hedgehogs.net/pg/blog/keny/friends/?view=rss http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487114/ukraine-maintains-rate-sees-gdp-drop-of-75-in-2015 Wed, 01 Apr 2015 00:33:03 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487114/ukraine-maintains-rate-sees-gdp-drop-of-75-in-2015 <![CDATA[Ukraine maintains rate, sees GDP drop of 7.5% in 2015]]>     Ukraine's central bank maintained its benchmark discount rate at 30.0 percent to avoid triggering any devaluation of the hryvenia currency, raising inflation or destabilizing the money market.
     The National Bank of Ukraine (NBU), which has raised its rate by 16 percentage points this year and by 23.50 points since April 2014, said it intends to gradually reduce its discount rate but this process depends on the successful implementation of structural reforms, fiscal consolidation and a recovery of the banking system.
    In a statement issued today based on a meeting by the NBU's monetary policy committee on March 25 and 26, the central bank also agreed under its Fundamentals of monetary policy for 2015 to transition to inflation targeting with the aim of achieving annual consumer price inflation of 5.0 percent, with a tolerance range of plus/minus one percentage point, in three to five years.
    The policy committee also approved the inflation report, forecasting a decline in Gross Domestic Product of 7.5 percent this year, up from 2014's contraction of 6.8 percent, with a gradual recovery of growth in the second quarter of the year due to an increase in net exports. First quarter growth is expected to be impacted by the military conflict with Russia.
     Investment should start to rise in the second half of this year due to the increasing impact of import substitution and the need to rebuild infrastructure in the eastern part of the country.
    For 2016 the economy is forecast to contract by 3.0 percent.
    Due to a depreciation of the real effective exchange rate of the hryvnia in 2014 of 19.2 percent, and 2.4 percent this year, Ukraine's current account deficit is expected to decline to about 1.0 percent in 2015 and 2016, with a recovery of international reserves to US$18 billion based on a significant amount of official financing, for example from the International Monetary Fund (IMF), and the expected postponement of payments on sovereign eurobonds.
     Based on the devaluation of the hryvnia, along with a significant rise in tariffs for housing and communal services, consumer price inflation is forecast to end this year at 30 percent.
     For 2016 headline inflation is seen dropping to 13 percent and core inflation to 8 percent.
     In February Ukraine's consumer price inflation rate rose to 34.5 percent from 28.5 percent the previous month while GDP contracted by 3.8 percent in the fourth quarter from the third quarter for annual shrinkage of 14.8 percent, up from a decline of 5.4 percent in the third quarter.
    The hryvnia tumbled in early February, hitting a low of 33.7 to the U.S. dollar on Feb. 26, but since then it has rebounded to trade around 23.3 today, but is still down 32 percent this year.

      www.CentralBankNews.info

 

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11487114
http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487106/romania-cuts-rate-another-25-bps-inflation-below-range Tue, 31 Mar 2015 22:53:12 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487106/romania-cuts-rate-another-25-bps-inflation-below-range <![CDATA[Romania cuts rate another 25 bps, inflation below range]]>     Romania's central bank cut its policy rate by a further 25 basis points to 2.0 percent, saying evidence suggests that inflation will start to rise but remain below the lower bound of the bank's target range while nearly all indicators hint at economic growth consolidating.
    The National Bank of Romania (NBR), which has now cut its rate by 325 basis points since embarking on an easing cycle in July 20134, also further narrowed the symmetrical corridor around its standing facilities to 1.75 percent from 2.0 percent with the aim of containing money market volatility and strengthen the transmission of its policy rate cut. From April 1, the NBR's deposit rate will remain at 0.25 percent while the Lombard lending rate will fall to 3.75 percent from 4.25 percent.
    Romania's headline inflation rate was steady at 0.4 percent in February and January and the NBR said it reflected the combined effect of volatile prices and of the "narrowing, yet still significant negative output gap."
    The NBR targets inflation of 2.5 percent, plus/minus one percentage point.
    Romania's Gross Domestic Product expanded by 0.5 percent in the fourth quarter of last year from the third quarter for annual growth of 2.6 percent, down from 3.3 percent on the back of rising consumption and a positive contribution from fixed capital formation for the first time in two years.
    Last month the International Monetary Fund (IMF) forecast GDP growth of 2.7 percent this year and 2.9 percent next year, with private consumption the main driver.
    The IMF also said it supported further easing steps by Romania's central bank amid declining inflation expectations, lower oil prices, a persistent negative output gap and monetary easing by the European Central Bank.

   
    The National Bank of Romania issued the following statement:
 
"In its meeting of 31 March 2015, the Board of the National Bank of Romania decided:
  • to lower the monetary policy rate to 2.00 percent per annum from 2.25 percent starting with 1 April 2015;
  • to narrow the symmetrical corridor of interest rates on the NBR’s standing facilities around the policy rate to ±1.75 percentage points from ±2.00 percentage points. Thus, starting 1 April 2015, the interest rate on the NBR’s lending facility (Lombard) is lowered to an annual 3.75 percent from 4.25 percent, while the deposit facility rate remains at 0.25 percent per annum;
  • to pursue adequate liquidity management in the banking system; and
  • to leave unchanged the current levels of minimum reserve requirements ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
The analysis of the latest data points to the annual inflation rate staying below the lower bound of the variation band of the flat target, alongside emerging signals of a halt in the significant decline seen previously.
This occurs amid a relatively slower year-on-year fall in fuel prices and volatile food prices, as well as the persistence of a negative output gap and euro area deflation.
In February 2015, the annual inflation rate and the average annual inflation rate stayed unchanged versus the previous month at 0.4 percent and 1.0 percent respectively. The average annual inflation rate based on the Harmonised Index of Consumer Prices, which is relevant for assessing convergence with the European Union, dropped to 1.2 percent, from 1.3 percent in the prior month.

As for the economic activity, national accounts data for the final quarter of 2014 point to real GDP advancing by 2.6 percent in annual terms, on the back of further rising final consumption and a positive contribution, for the first time in two years, from gross fixed capital formation. Nearly all monthly indicators for the early months of this year, especially those on retail trade and consumer confidence, hint at the consolidation of the economic growth trend in the period ahead.

Domestic currency loans grew at a swifter pace in annual terms, against the background of the ongoing liquidity surplus in the money market and the pass-through of the successive policy rate cuts onto lending rates on new business to companies and households. On the other hand, forex loans contracted at a slightly faster rate year on year, their share in total credit to the private sector narrowing to 56.1 percent in February, down from 56.4 percent a month earlier. The real annual dynamics of credit to the private sector remained however in negative territory, reducing further the level of financial intermediation.

Looking ahead, evidence so far suggests the annual inflation rate embarking on a slight uptrend, still below the lower bound of the variation band of the flat target, reflecting in particular the combined effect of developments in volatile prices and of the narrowing, yet still significant negative output gap. The uncertainty surrounding this outlook arises from both the external environment – mostly from the geopolitical tensions in the region, the situation in Greece and the euro area, and from the growing divergence between the monetary policy stances pursued by major central banks worldwide – and the domestic environment.

Against this background, the Board of the National Bank of Romania decided to lower the monetary policy rate to 2.00 percent per annum from 2.25 percent starting 1 April 2015 and to continue to pursue adequate liquidity management in the banking system.

With a view to containing interbank money market rate volatility and strengthening the transmission of the policy rate signal, the NBR Board moved to narrow the symmetrical corridor of interest rates on the NBR’s standing facilities around the policy rate to ±1.75 percentage points from ±2.00 percentage points. Accordingly, starting 1 April 2015, the interest rate on the deposit facility remains at 0.25 percent per annum and that on the NBR’s lending facility (Lombard) is lowered to an annual 3.75 percent.
The NBR Board also decided to keep unchanged the current levels of minimum reserve requirement ratios on liabilities of credit institutions. These levels will be adjusted, in compliance with the long-term programme for bringing them into line with European levels, when domestic and external conditions allow it.
Based on currently available data, the decisions are meant to ensure price stability over the medium term, in line with the 2.5 percent ±1 percentage point flat target, in a manner supportive of economic growth, also by restoring confidence and reinvigorating lending.

The NBR Board reiterates that the consistent implementation of an adequate macroeconomic policy mix and the step-up in structural reforms, together with sustainable financial intermediation and an appropriate remuneration of bank deposits are pivotal to consolidating the Romanian economy and enhancing its resilience to external shocks.
The NBR is restating that the adequate use and dosage of all its available tools, amid close monitoring of domestic and global economic developments, will ensure the achievement of the overriding objective of maintaining price stability over the medium term, along with preserving financial stability.
In line with the approved calendar, the next NBR Board meeting dedicated to monetary policy issues is scheduled for 6 May 2015, when the new quarterly Inflation Report is to be examined."

    www.CentralBankNews.info


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11487106
http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487098/angola-raises-rate-25-bps-as-inflation-rises-kwanza-falls Tue, 31 Mar 2015 22:13:04 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487098/angola-raises-rate-25-bps-as-inflation-rises-kwanza-falls <![CDATA[Angola raises rate 25 bps as inflation rises, kwanza falls]]>     Angola's central bank on Monday raised its benchmark Basic Interest Rate (BNA) by 25 basis points to 9.25 percent, citing a rise in February inflation, a growing stock of credit and a depreciation of the kwanza's exchange rate.
    The National Bank of Angola, which last raised its rate in October 2014, also raised the rate on its standing facility for providing liquidity to 10.0 percent from 9.75 percent while the liquidity absorption rate was maintained at 0.0 percent.
    Last month the BNA slashed the liquidity absorption rate by 175 basis points at an extraordinary meeting of the bank's monetary policy committee following the government's approval of its 2015 economic program.
    Angola's inflation rate rose to 7.73 percent in February from 7.44 percent in January, with a 0.41 percentage point rise in the prices of food and alcohol the largest contributor to inflation. The government has forecast that inflation could rise to 9 percent this year.
   The stock of credit issued to the economy in February rose by an annual rate of some 14.2 percent to 3.388 billion kwanza, the bank said, adding that the average exchange reference rate of the kwanza in February depreciated by 2.02 percent to 106.276 per U.S. dollar from January.
    Angola, Africa's second-largest crude oil producer, is being hit by the fall in oil prices and the government has said revenue from oil will only cover 37 percent of spending compared with 70 percent in 2014.
     The kwanza has continued to depreciate this month, trading at 108 to the dollar today, slightly up from a record low of 108.15 hit on March 27.

    www.CentralBankNews.info


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11487098
http://www.hedgehogs.net/pg/blog/mikeohara/read/11487089/the-case-for-a-common-symbology-ideal-and-practical Tue, 31 Mar 2015 15:23:18 +0100 http://www.hedgehogs.net/pg/blog/mikeohara/read/11487089/the-case-for-a-common-symbology-ideal-and-practical <![CDATA[The case for a common symbology: ideal and practical]]> Click here to download a pdf of this white paper from SR Labs

read more...

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11487089
http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487057/kyrgyzstan-maintains-rate-as-inflation-continues-to-ease Mon, 30 Mar 2015 20:23:14 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487057/kyrgyzstan-maintains-rate-as-inflation-continues-to-ease <![CDATA[Kyrgyzstan maintains rate as inflation continues to ease]]>     The central bank of the Kyrgyz Republic left its benchmark discount rate steady at 11.0 percent, noting that even if inflation was slowing, the country's economy remains under the influence of external factors.
   The National Bank of the Kyrgyz Republic, which has raised its rate by 500 basis points since July 2014 to curb inflationary pressures from the depreciating som currency, said the economy of its main trading partners continues to slow down, impacting the domestic economy through the channels of foreign trade and lower remittances along with pressure in the foreign exchange market.
    As of mid-March, the inflation rate eased to 8.6 percent from 10.5 percent at the end of 2014 with high economic growth in the first two months of 9.5 percent mainly due to rising output at the Kumtor open-pit gold mining site.
    Excluding Kumtor, located about 220 miles southeast of the capital of Bishkek, the country's economy expanded by 3.8 percent, the central bank said.
    The central bank added that it would continue to take appropriate measures to achieve a medium-term inflation rate of 5.7 percent.
    The som began depreciating in August 2014 and was trading at 63.89 to the U.S. dollar today, down 7.8 percent since the start of the year.

    www.CentralBankNews.info

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11487057
http://www.hedgehogs.net/pg/blog/mikeohara/read/11487052/frontloading-and-the-clearing-obligation Mon, 30 Mar 2015 17:23:48 +0100 http://www.hedgehogs.net/pg/blog/mikeohara/read/11487052/frontloading-and-the-clearing-obligation <![CDATA[Frontloading and the Clearing Obligation]]>

read more...

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11487052
http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487036/this-week-in-monetary-policy-kyrgyz-republic-angola-and-romania Mon, 30 Mar 2015 11:03:00 +0100 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11487036/this-week-in-monetary-policy-kyrgyz-republic-angola-and-romania <![CDATA[This week in monetary policy: Kyrgyz Republic, Angola and Romania]]>
   This week (March 30 through April 4) central banks from three countries or jurisdictions are scheduled to decide on monetary policy: The Kyrgyz Republic, Angola and Romania.
    Following table includes the name of the country, its MSCI classification, the direction of the latest decision, the date the new policy decision will be announced, the current policy rate, and the rate one year ago.

MAR 30 -APR 4, 2015
COUNTRY MSCI  LATEST              DATE   CURRENT  RATE         1 YEAR AGO
KYRGYZSTAN UNCH. 30-Mar 11.00% 6.00%
ANGOLA UNCH. 30-Mar 9.00% 9.25%
ROMANIA FM CUT 31-Mar 2.25% 3.50%
    
www.CentralBankNews.info

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11487036
http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11486472/2015-global-central-bank-calendar-updated-with-romania-and-ghana Sat, 28 Mar 2015 19:33:14 +0000 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11486472/2015-global-central-bank-calendar-updated-with-romania-and-ghana <![CDATA[2015 Global Central Bank Calendar - updated with Romania and Ghana]]>     Following is the 2015 calendar for meetings by central bank committees that decide monetary policy.
    The table includes scheduled meetings for around 40 of the world's central banks. In the event that meetings by monetary policy committees take place over several days, the date listed below is for the final day when decisions are normally announced.
    The calendar is updated regularly to reflect the latest information as some central banks have yet to release their meeting schedule for 2015. Other central banks only release tentative schedules and then finalize their calendar as the meeting nears.

    Work is underway to expand the number of central banks covered, including expanding the existing inflation targets table, and global interest rates table. You may replicate the table in part or in full only if you link to this page.

Central Bank News - 2015 Global Central Bank Calendar

        MARCH 
3-Mar     AUD Australia Reserve Bank of Australia
4-Mar     BRL Brazil Central Bank of Brazil
4-Mar     CAD Canada Bank of Canada
4-Mar     PLN Poland National Bank of Poland
4-Mar     ALL Albania  Bank of Albania
5-Mar     EUR Euro area European Central Bank
5-Mar     GBP United Kingdom Bank of England
5-Mar     MYR Malaysia Central Bank of Malaysia
11-Mar     THB Thailand Bank of Thailand
12-Mar     KRW Korea Bank of Korea
12-Mar     NZD New Zealand Reserve Bank of New Zealand
12-Mar     PEN Peru Central Reserve Bank of Peru
12-Mar     RSD Serbia National Bank of Serbia
13-Mar     RUB Russia Bank of Russia
17-Mar     JPY Japan Bank of Japan
17-Mar     TRY Turkey Central Bank of Republic of Turkey
17-Mar     IDR Indonesia Bank Indonesia
18-Mar     USD United States Federal Reserve
19-Mar     NOK Norway Norges Bank
18-Mar     ISK Iceland Central Bank of Iceland
19-Mar     CHF Switzerland Swiss National Bank
19-Mar     CLP Chile Central Bank of Chile
23-Mar     ILS Israel Bank of Israel
24-Mar     MAD Morocco Bank of Morocco 
24-Mar     HUF Hungary Central Bank of Hungary
24-Mar     NGN Nigeria Central Bank of Nigeria
25-Mar     GEL Georgia National Bank of Georgia
25-Mar     UAH  Ukraine National Bank of Ukraine
26-Mar     PHP Philippines Central Bank of Philippines
26-Mar     MXN Mexico Banco de Mexico
26-Mar     ZAR South Africa South African Reserve Bank
26-Mar     CZK Czech Republic Czech National Bank
26-Mar     FJD Fiji Reserve Bank of Fiji
26-Mar     MDL Moldova National Bank of Moldova
26-Mar    TWD Taiwan Central Bank of the Rep. of China (Taiwan)
27-Mar     XCD Eastern Caribbean Eastern Caribbean Central Bank
27-Mar     TTD Trinidad and Tobago Central Bank of Trinidad and Tobago
30-Mar     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
30-Mar     AOA Angola Bank of Angola
31-Mar     RON Romania National Bank of Romania
        APRIL 
7-Apr     AUD Australia Reserve Bank of Australia
7-Apr     INR India  Reserve Bank of India 
8-Apr     JPY Japan Bank of Japan
9-Apr     KRW Korea Bank of Korea
9-Apr     GBP United Kingdom Bank of England
9-Apr     PEN Peru Central Reserve Bank of Peru
9-Apr     RSD Serbia National Bank of Serbia
14-Apr     UAH Uganda Bank of Uganda
14-Apr     IDR Indonesia Bank Indonesia
15-Apr     PLN Poland National Bank of Poland
15-Apr     CAD Canada Bank of Canada
15-Apr     EUR Euro area European Central Bank
15-Apr     NAD Namibia Bank of Namibia
16-Apr     CLP Chile Central Bank of Chile
21-Apr     HUF Hungary Central Bank of Hungary
22-Apr     TRY Turkey Central Bank of Republic of Turkey
23-Apr     EGP Egypt Central Bank of Egypt
27-Apr     ILS Israel Bank of Israel
27-Apr     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
28-Apr     UAH  Ukraine National Bank of Ukraine
29-Apr     SEK Sweden The Riksbank
29-Apr     USD United States Federal Reserve
29-Apr     BRL Brazil Central Bank of Brazil
29-Apr     THB Thailand Bank of Thailand
30-Apr     NZD New Zealand Reserve Bank of New Zealand
30-Apr     JPY Japan Bank of Japan
30-Apr     MXN Mexico Banco de Mexico
30-Apr     RUB Russia Bank of Russia
30-Apr     FJD Fiji Reserve Bank of Fiji
        MAY  
5-May     AUD Australia Reserve Bank of Australia
6-May     GEL Georgia National Bank of Georgia
6-May     PLN Poland National Bank of Poland
6-May     ALL Albania  Bank of Albania
7-May     CZK Czech Republic Czech National Bank
7-May     NOK Norway Norges Bank
7-May     MYR Malaysia Central Bank of Malaysia
11-May     GBP United Kingdom Bank of England
11-May     RSD Serbia National Bank of Serbia
12-May     ZMK Zambia Bank of Zambia
13-May     ISK Iceland Central Bank of Iceland
13-May     GHS Ghana Bank of Ghana
14-May     CLP Chile Central Bank of Chile
14-May     PEN Peru Central Reserve Bank of Peru
14-May     PHP Philippines Central Bank of Philippines
15-May     KRW Korea Bank of Korea
19-May     IDR Indonesia Bank Indonesia
19-May     NGN Nigeria Central Bank of Nigeria
20-May     TRY Turkey Central Bank of Republic of Turkey
21-May     ZAR South Africa South African Reserve Bank
22-May     JPY Japan Bank of Japan
25-May     ILS Israel Bank of Israel
25-May     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
26-May     HUF Hungary Magyar Nemzeti Bank
27-May     CAD Canada Bank of Canada
27-May     UAH  Ukraine National Bank of Ukraine
28-May     FJD Fiji Reserve Bank of Fiji
29-May     TTD Trinidad and Tobago Central Bank of Trinidad and Tobago
        JUNE   
2-Jun     AUD Australia Reserve Bank of Australia
3-Jun     EUR Euro area European Central Bank
3-Jun     BRL Brazil Central Bank of Brazil
3-Jun     PLN Poland National Bank of Poland
4-Jun     GBP United Kingdom Bank of England
4-Jun     MXN Mexico Banco de Mexico
5-Jun     RON Romania National Bank of Romania
10-Jun     ISK Iceland Central Bank of Iceland
10-Jun     THB Thailand Bank of Thailand
11-Jun     EGP Egypt Central Bank of Egypt
11-Jun     KRW Korea Bank of Korea
11-Jun     PEN Peru Central Reserve Bank of Peru
11-Jun     CLP Chile Central Bank of Chile
11-Jun     NZD New Zealand Reserve Bank of New Zealand
11-Jun     RSD Serbia National Bank of Serbia
12-Jun     UAH Uganda Bank of Uganda
15-Jun     RUB Russia Bank of Russia
16-Jun     MAD Morocco Bank of Morocco 
17-Jun     GEL Georgia National Bank of Georgia
17-Jun     USD United States Federal Reserve
17-Jun     NAD Namibia Bank of Namibia
18-Jun     IDR Indonesia Bank Indonesia
18-Jun     CHF Switzerland Swiss National Bank
18-Jun     NOK Norway Norges Bank
19-Jun     JPY Japan Bank of Japan
22-Jun     ILS Israel Bank of Israel
23-Jun     HUF Hungary Central Bank of Hungary
23-Jun     TRY Turkey Central Bank of Republic of Turkey
24-Jun     UAH  Ukraine National Bank of Ukraine
25-Jun     FJD Fiji Reserve Bank of Fiji
25-Jun     PHP Philippines Central Bank of Philippines
25-Jun     CZK Czech Republic Czech National Bank
29-Jun     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
        JULY  
1-Jul     ALL Albania  Bank of Albania
1-Jul     RON Romania National Bank of Romania
2-Jul     SEK Sweden Sveriges Riksbank
7-Jul     AUD Australia Reserve Bank of Australia
8-Jul     PLN Poland National Bank of Poland
9-Jul     KRW Korea Bank of Korea
9-Jul     PEN Peru Central Reserve Bank of Peru
9-Jul     GBP United Kingdom Bank of England
9-Jul     MYR Malaysia Central Bank of Malaysia
9-Jul     RSD Serbia National Bank of Serbia
14-Jul     IDR Indonesia Bank Indonesia
15-Jul     JPY Japan Bank of Japan
15-Jul     CAD Canada Bank of Canada
15-Jul     GHS Ghana Bank of Ghana
21-Jul     HUF Hungary Central Bank of Hungary
21-Jul     NGN Nigeria Central Bank of Nigeria
23-Jul     MXN Mexico Banco de Mexico
23-Jul     NZD New Zealand Reserve Bank of New Zealand
23-Jul     TRY Turkey Central Bank of Republic of Turkey
23-Jul     ZAR South Africa South African Reserve Bank
27-Jul     ILS Israel Bank of Israel
27-Jul     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
28-Jul     UAH  Ukraine National Bank of Ukraine
29-Jul     BRL Brazil Central Bank of Brazil
29-Jul     USD United States Federal Reserve
30-Jul     FJD Fiji Reserve Bank of Fiji
30-Jul     EGP Egypt Central Bank of Egypt
31-Jul     RUB Russia Bank of Russia
        AUGUST  
4-Aug     AUD Australia Reserve Bank of Australia
4-Aug     RON Romania National Bank of Romania
5-Aug     THB Thailand Bank of Thailand
5-Aug     ALL Albania  Bank of Albania
6-Aug     GBP United Kingdom Bank of England
6-Aug     CZK Czech Republic Czech National Bank
7-Aug     JPY Japan Bank of Japan
13-Aug     KRW Korea Bank of Korea
13-Aug     PEN Peru Central Reserve Bank of Peru
12-Aug     GEL Georgia National Bank of Georgia
13-Aug     PHP Philippines Central Bank of Philippines
13-Aug     RSD Serbia National Bank of Serbia
18-Aug     IDR Indonesia Bank Indonesia
18-Aug     TRY Turkey Central Bank of Republic of Turkey
19-Aug     ISK Iceland Central Bank of Iceland
19-Aug     NAD Namibia Bank of Namibia
24-Aug     ILS Israel Bank of Israel
24-Aug     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
25-Aug     HUF Hungary Central Bank of Hungary
26-Aug     UAH  Ukraine National Bank of Ukraine
27-Aug     FJD Fiji Reserve Bank of Fiji
        SEPTEMBER
1-Sep     AUD Australia Reserve Bank of Australia
2-Sep     BRL Brazil Central Bank of Brazil
2-Sep     PLN Poland National Bank of Poland
2-Sep     ALL Albania  Bank of Albania
3-Sep     EUR Euro area European Central Bank
3-Sep     MXN Mexico Banco de Mexico
3-Sep     MYR Malaysia Central Bank of Malaysia
3-Sep     SEK Sweden Sveriges Riksbank
9-Sep     CAD Canada Bank of Canada
10-Sep     GBP United Kingdom Bank of England
10-Sep     NZD New Zealand Reserve Bank of New Zealand
10-Sep     RSD Serbia National Bank of Serbia
11-Sep     RUB Russia Bank of Russia
11-Sep     KRW Korea Bank of Korea
10-Sep     PEN Peru Central Reserve Bank of Peru
15-Sep     JPY Japan Bank of Japan
16-Sep     THB Thailand Bank of Thailand
15-Sep     GHS Ghana Bank of Ghana
17-Sep     IDR Indonesia Bank Indonesia
17-Sep     CHF Switzerland Swiss National Bank
17-Sep     USD United States Federal Reserve
17-Sep     EGP Egypt Central Bank of Egypt
22-Sep     TRY Turkey Central Bank of Republic of Turkey
22-Sep     MAD Morocco Bank of Morocco 
22-Sep     HUF Hungary Central Bank of Hungary
22-Sep     NGN Nigeria Central Bank of Nigeria
23-Sep     GEL Georgia National Bank of Georgia
23-Sep     ZAR South Africa South African Reserve Bank
24-Sep     FJD Fiji Reserve Bank of Fiji
24-Sep     NOK Norway Norges Bank
24-Sep     PHP Philippines Central Bank of Philippines
24-Sep     CZK Czech Republic Czech National Bank
24-Sep     UAH  Ukraine National Bank of Ukraine
27-Sep     ILS Israel Bank of Israel
28-Sep     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
30-Sep     ISK Iceland Central Bank of Iceland
30-Sep     RON Romania National Bank of Romania
        OCTOBER
6-Oct     AUD Australia Reserve Bank of Australia
6-Oct     PLN Poland National Bank of Poland
7-Oct     JPY Japan Bank of Japan
8-Oct     GBP United Kingdom Bank of England
15-Oct     MXN Mexico Banco de Mexico
15-Oct     KRW Korea Bank of Korea
15-Oct     IDR Indonesia Bank Indonesia
15-Oct     RSD Serbia National Bank of Serbia
16-Oct     PEN Peru Central Reserve Bank of Peru
20-Oct     HUF Hungary Central Bank of Hungary
21-Oct     BRL Brazil Central Bank of Brazil
21-Oct     CAD Canada Bank of Canada
21-Oct     NAD Namibia Bank of Namibia
22-Oct     EUR Euro area  European Central Bank
26-Oct     ILS Israel Bank of Israel
26-Oct     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
27-Oct     UAH  Ukraine National Bank of Ukraine
28-Oct     SEK Sweden The Riksbank
28-Oct     USD United States Federal Reserve
29-Oct     NZD New Zealand Reserve Bank of New Zealand
29-Oct     EGP Egypt Central Bank of Egypt
29-Oct     FJD Fiji Reserve Bank of Fiji
30-Oct     RUB Russia Bank of Russia
        NOVEMBER 
3-Nov     AUD Australia Reserve Bank of Australia
4-Nov     GEL Georgia National Bank of Georgia
4-Nov     PLN Poland National Bank of Poland
4-Nov     ISK Iceland Central Bank of Iceland
4-Nov     THB Thailand Bank of Thailand
4-Nov     ALL Albania  Bank of Albania
5-Nov     RON Romania National Bank of Romania
5-Nov     NOK Norway Norges Bank
5-Nov     CZK Czech Republic Czech National Bank
5-Nov     GBP United Kingdom Bank of England
5-Nov     MYR Malaysia Central Bank of Malaysia
12-Nov     PHP Philippines Central Bank of Philippines
12-Nov     KRW Korea Bank of Korea
12-Nov     PEN Peru Central Reserve Bank of Peru
12-Nov     RSD Serbia National Bank of Serbia
17-Nov     IDR Indonesia Bank Indonesia
17-Nov     HUF Hungary Central Bank of Hungary
18-Nov     GHS Ghana Bank of Ghana
19-Nov     ZAR South Africa South African Reserve Bank
23-Nov     ILS Israel Bank of Israel
24-Nov     TRY Turkey Central Bank of Republic of Turkey
24-Nov     NGN Nigeria Central Bank of Nigeria
25-Nov     BRL Brazil Central Bank of Brazil
25-Nov     UAH  Ukraine National Bank of Ukraine
26-Nov     FJD Fiji Reserve Bank of Fiji
30-Nov     KGS Kyrgyzstan National Bank of the Kyrgyz Republic
        DECEMBER 
1-Dec     AUD Australia Reserve Bank of Australia
2-Dec     CAD Canada Bank of Canada
2-Dec     PLN Poland National Bank of Poland
3-Dec     MXN Mexico Banco de Mexico
3-Dec     EUR Euro area European Central Bank
9-Dec     ISK Iceland Central Bank of Iceland
9-Dec     NAD Namibia Bank of Namibia
10-Dec     FJD Fiji Reserve Bank of Fiji
10-Dec     GBP United Kingdom Bank of England
10-Dec     KRW Korea Bank of Korea
10-Dec     PEN Peru Central Reserve Bank of Peru
10-Dec     NZD New Zealand Reserve Bank of New Zealand
10-Dec     CHF Switzerland Swiss National Bank
10-Dec     RSD Serbia National Bank of Serbia
11-Dec     RUB Russia Bank of Russia
15-Dec     SEK Sweden The Riksbank
15-Dec     HUF Hungary Central Bank of Hungary
16-Dec     ALL Albania  Bank of Albania
16-Dec     GEL Georgia National Bank of Georgia
16-Dec     CZK Czech Republic Czech National Bank
16-Dec     THB Thailand Bank of Thailand
16-Dec     USD United States Federal Reserve
17-Dec     PHP Philippines Central Bank of Philippines
17-Dec     IDR Indonesia Bank Indonesia
17-Dec     EGP Egypt Central Bank of Egypt
17-Dec     NOK Norway Norges Bank
22-Dec     MAD Morocco Bank of Morocco 
22-Dec     TRY Turkey Central Bank of Republic of Turkey
24-Dec     UAH  Ukraine National Bank of Ukraine
28-Dec     ILS Israel Bank of Israel
28-Dec     KGS Kyrgyzstan National Bank of the Kyrgyz Republic



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http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11486399/central-bank-news-link-list-mar-28-2015-feds-yellen-sees-gradual-rate-hikes-starting-this-year Sat, 28 Mar 2015 18:53:01 +0000 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11486399/central-bank-news-link-list-mar-28-2015-feds-yellen-sees-gradual-rate-hikes-starting-this-year <![CDATA[Central Bank News Link List - Mar 28, 2015: Fedâs Yellen sees gradual rate hikes starting this year]]>
Here's today's Central Bank News' link list, click through if you missed the previous link list. The list comprises news about central banks that is not covered by Central Bank News. The list is updated during the day with the latest developments so readers don't miss any important news.


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http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11485900/rwanda-holds-rate-to-aid-economy-as-inflation-subdued Sat, 28 Mar 2015 17:33:01 +0000 http://www.hedgehogs.net/pg/blog/CentralBankNews/read/11485900/rwanda-holds-rate-to-aid-economy-as-inflation-subdued <![CDATA[Rwanda holds rate to aid economy as inflation subdued]]>     Rwanda's central bank maintained its key repurchase rate at 6.5 percent, saying it would maintain its current accommodative monetary policy stance "with the objective of continuing to support the financing of the economy by the banking sector, as long as inflationary pressures remain subdued."
    The National Bank of Rwanda (BNR), which cut its rate by 50 basis points last year, said following the quarterly meeting of its Financial Stability and Monetary Policy Committees that the financial sector remains "sound and resilient" with the banking sector's return on assets up to 1.9 percent by end-December 2014 from 1.5 percent end-December 2013.
    After slowing in 2013, Rwanda's economy recovered last year, growing by 7 percent compared with 4.7 percent in 2013.
    "In 2015, the accommodate monetary policy is expected to continue supporting the financing of the economy through the banking sector," the central bank said on March 26.
   Rwanda's headline inflation rate eased to 0.7 percent in February from 1.4 percent in January, said the bank which tracks urban inflation, attributing this to lower international commodity prices and good agriculture.
    But despite this trend, the bank said pressure to the outlook for inflation may come from uncertainties in international commodity prices, food prices and the exchange rate.
    "However, these risks are not expected to drive inflation on the extreme upside," it said.
    The central bank's governor, John Rwangombwa, told journalists that inflation was not expected to exceed 3.5 percent by the end of this year, according to Reuters.
    Rwanda's franc slumped sharply earlier this month, almost hitting 718 to the U.S. dollar, but the central bank said it intervenes to smoothen excessive volatility.
    In 2013 the FRW depreciated by 6.1 percent against the dollar, then by 3.6 percent last year. As of today, the bank said franc has depreciated by 1.87 percent, the bank said. It ended the week at 685 to the dollar.

    www.CentralBankNews.info 


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