Saturday, October 29, 2011

DailyMarkets.com - Angola Central Bank Sets New Benchmark Rate At 10.50%

DailyMarkets.com - Angola Central Bank Sets New Benchmark Rate At 10.50%

Angola Central Bank Sets New Benchmark Rate At 10.50%

Posted: 28 Oct 2011 11:05 PM PDT

The Banco Nacional de Angola (BNA) set its new benchmark interest rate at 10.5%.  The BNA said: “Considering the performance of economic activity at the national level, financial indicators should be monitored with caution so that the money supply remains at appropriate levels”.  Earlier in the month the Bank was reported as delaying the introduction of the average interbank lending rate (the Luibor) until November.  The Bank will next review the benchmark interest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sierra Leone Central Bank Cuts Rate 300bps To 20.00%

Posted: 28 Oct 2011 10:30 PM PDT

The Bank of Sierra Leone cut its monetary policy rate by 300 basis points to 20.00% from 23.00% previously; also changing the Reverse Repo Rate to 22.00%, Rediscount Rate to 24.00%, and Standing Facility Rate at 27%.  The Bank said: “The MPC discussed the appropriateness of the Bank’s monetary policy stance in light of observed tight liquidity in the money market. It noted that with the growth of Reserve Money within its 2011 program target and inflation trending downwards, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Bank Of Georgia Cuts Rate 25bps To 7.25%

Posted: 28 Oct 2011 10:15 PM PDT

The National Bank of Georgia cut its benchmark refinancing interest rate by 25 basis points to 7.25% from 7.50%.  The Bank said: “The annual inflation rate dropped below the target level of the NBG in September and is expected to decrease further at the beginning of the next year. According to the existing forecasts, the inflation forecast in 2012 will remain below the target level. Accordingly, the Monetary Policy Committee of the NBG considered it appropriate to continue easing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Mongolia Hikes Interest Rate 50bps To 12.25%

Posted: 28 Oct 2011 09:46 PM PDT

The Bank of Mongolia increased its policy rate by 50 basis points to 12.25% from 11.75% previously.  The Bank said: “The rapid expansion of budget expense, cash hand-out from the Human Development Fund and the high increase in loans are contributing to higher demand. This sharp increase in demand builds the pressure on core inflation even the total supply and the real capacity of economy have not added on yet. The consecutive growth in prices of non-food products from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank Of Colombia Holds Benchmark Rate At 4.50%

Posted: 28 Oct 2011 09:11 PM PDT

The Central Bank of Colombia held its benchmark monetary policy interest rate unchanged at 4.50%.  The Bank said [translated]: “Given the global financial and economic risks and their potential effect on the Colombian economy, the Board considers it prudent to keep interest rate unchanged for intervention. However, if international confidence tends to be restored and if the internal real indicators continue with the current dynamism and no significant further spread of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Week Ahead: FOMC Meeting And Announcement, Bernanke’s Press Conference, ECB Meeting And Announcement, US Employment Report, ISM Manufacturing, ISM Services

Posted: 28 Oct 2011 09:00 PM PDT

10/29/11 Central bank meetings will take the spotlight in the upcoming week. The US employment report for October will be released at the end of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

No Sign Of Recovery

Posted: 28 Oct 2011 07:19 PM PDT

While housing starts, new home sales, existing home sales, and homebuilder sentiment, have largely gone nowhere since the 2006-2009 crash, and supply-and-demand fundamentals continue to support a pessimistic outlook, hope springs eternal — especially on Wall Street — that a recovery is around the corner.
Unfortunately, if the reports coming back from those who supply the goods (and services) that tend to be in demand when housing market conditions are healthy (like the ones I’ve highlighted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sweden Central Bank Holds Interest Rate At 2.00%

Posted: 28 Oct 2011 04:26 PM PDT

Sweden’s Riksbank held its benchmark repo rate unchanged at 2.00%.  The Bank said: “The difficulties in resolving the public finance crisis in Europe has led to increased uncertainty regarding the future. In Sweden, growth is expected to be slightly weaker in the coming period. At the same time, inflationary pressure is low. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at 2 per cent and to wait to increase it until sometime next … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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