The past week in
monetary policy saw interest rate decisions by 6 central banks, with two banks
(Brazil and South Korea) cutting rates, one bank (Serbia) raising rates and the
remaining three banks (Indonesia, Peru and Singapore) keeping policy rates
unchanged.
As Singapore’s monetary policy is targeted at its currency rather
than interest rates, it is not closely followed by Central Bank News.
Rate cuts by
Brazil and Korea were largely expected, with both banks citing the weak global
economy as the reason for the move. Serbia continued its rate-hike campaign to ensure that a
rise in inflation from higher food prices doesn’t spread to other prices and
fuels inflationary expectations.
Indonesia and Peru’s kept rates steady due to strong economic growth, though both central
banks noted the impact of the weak global economy.
LAST WEEK'S MONETARY POLICY DECISIONS:
| COUNTRY | MSCI | NEW RATE | PREVIOUS RATE | RATE 1 YEAR AGO |
| BRAZIL | EM | 7.25% | 7.50% | 11.50% |
| INDONESIA | EM | 5.75% | 5.75% | 6.50% |
| KOREA | EM | 2.75% | 3.00% | 3.25% |
| PERU | EM | 4.25% | 4.25% | 4.25% |
| SERBIA | FM | 10.75% | 10.50% | 10.75% |
NEXT WEEK (Week
42) features monetary policy decisions by Sri Lanka, Thailand and Turkey.
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| www.CentralBankNews.info |
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