Friday, May 11, 2012

Monetary Policy Week in Review - 12 May 2012

The past week in monetary policy saw three central banks announcing interest rate changes: Poland increased 25 basis points to 4.75%, Malawi hiked rates 300bps to 16.00%, while Belarus cut rates -200bps to 34.00%.  Those that held interest rates unchanged were: UK 0.50%, Russia 8.00%, Indonesia 5.75%, Korea 3.25%, Norway 1.50%, Malaysia 3.00%, Serbia 9.50%, Peru 4.25%, and Sri Lanka 7.75%. Elsewhere the People's Bank of China released its quarterly monetary policy report.

Looking at the central bank calendar, the week ahead in monetary policy will be relatively quiet on the meeting front with just Iceland on the list (the following week is more busy). However there are monetary policy meeting minutes due from the Reserve Bank of Australia and the US Federal Reserve's FOMC. The Bank of England also has its regular inflation report due out.

Central Bank of Iceland


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