The Czech National Bank (CNB), which earlier today cut its benchmark repo rate to a record low 0.05 percent, said it reduced the rate because inflation is expected to remain below the bank’s target through the second quarter of 2014 and it expects to keep rates at this level for a long time. …
The central bank of Uganda again cut its central bank rate (CBR), this time by a “modest” 50 basis points to 12.5 percent, but indicated that it may soon halt its aggressive rate-cutting campaign. The Bank of Uganda (BoU), which has cut its policy rate eight times this year for a total reduction…
The central bank of Zambia raised its policy rate by 25 basis points to 9.25 percent to rein in inflationary pressures that threaten to push inflation above the bank’s year-end target of 7.0 percent. The Bank of Zambia said the upward pressure on inflation in November was coming from feed prices that…
The central bank of the Czech Republic cut its benchmark two-week repo rate by 20 basis points to a record low of 0.05 percent. The board of the Czech National Bank (CNB) also cut the Lombard rate, the ceiling for short-term money market rates that is used to provide overnight liquidity to…
The central bank of Tunisia held its benchmark interest rate steady at 3.75 percent, despite expectations for an increase, saying inflationary pressures were still rising though there were some initial signs of an easing that still had to be confirmed. Banque Centrale de Tunisie said there was a recovery in the export…
Norway’s central bank kept its policy rate unchanged at 1.5 percent, as widely expected, and delayed an increase in the rate to sometime next year. Norges Bank, which has cut rates twice this year, said in a statement that it was keeping its rate on hold due to low inflation and low…
Hungary’s central bank, which earlier announced its third interest rate cut in a row, said weak domestic demand will soon restrain inflation and the bank will consider further interest rate cuts if financial market sentiment remains healthy and the inflation outlook remains stable. The Magyar Nemzeti Bank, which has cut its base…
Hungary’s central bank cut its base rate for the third month in a row by 25 basis points to 6.25 percent, a move that was expected by some economists. The Magyar Nemzeti Bank said in brief statement that the new two-week deposit rate would take effect on Oct. 31. The overnight central…
The Bank of Japan (BOJ) expanded its asset purchase program by another 11 trillion yen to 91 trillion, slightly more than expected by many economists, and set up a new framework, with unlimited funds, in an attempt to stimulate bank lending. The BOJ also kept its overnight call rate unchanged at zero…