Swiss National Bank leaves target range for the three-month Libor unchanged at 2.25-3.25%. The Swiss National Bank (SNB) is leaving the target range for the Swiss franc three-month Libor unchanged at 2.25-3.25%, and intends to hold the rate in the middle of the target range for the time being
The most striking news from financial markets over the past month had been the sharp depreciation of sterling, with the effective exchange rate index (ERI) falling by around 5%. Sterling had weakened by around 3% against the euro and by even more, around 9%, against the US dollar
The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve Act. The secured loan has terms and conditions designed…
At the Monetary Policy Meeting held today, the Bank of Japan decided, by a unanimous vote, [Note] to set the following guideline for money market operations for the intermeeting period: The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.5 percent.
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.
“In close collaboration with the Treasury and the Securities and Exchange Commission, we have been in ongoing discussions with market participants, including through the weekend, to identify potential market vulnerabilities in the wake of an unwinding of a major financial institution and to consider appropriate official sector and private sector…
Since we last appeared before the Committee, the prospects for growth in the short run have deteriorated, and inflation has risen. Financial market conditions are worsening and the banking system as a whole remains short of capital. As a result, credit conditions have tightened and lending is being restricted.
The Reserve Bank today reduced the Official Cash Rate (OCR) by 50 basis points from 8.0 percent to 7.5 percent. Reserve Bank Governor Alan Bollard said: “The New Zealand economy is experiencing a marked slowdown, led primarily by the household sector. The outlook for the global economy has deteriorated further…
The picture of moderating demand, at least on the part of households, has continued to emerge. Consumption spending grew modestly in the March quarter, then paused in the June quarter
On the basis of our regular economic and monetary analyses, at today’s meeting we decided to leave the key ECB interest rates unchanged. The information that has become available since the last meeting has confirmed that annual inflation rates are likely to remain well above levels consistent with price stability…
