The past week in monetary policy saw interest rate
decisions by 4 central banks around the world, with just one, South
Africa, cutting rates while the other four kept rates unchanged.
Countries
with solid domestic demand, such as Canada and Mexico, are so far able to shrug
off the weakening global economy while those countries that are more exposed to
Europe’s crises, such as South Africa, are cutting rates to stimulate economic
activity.
LAST WEEK’S MONETARY POLICY DECISIONS:
|
COUNTRY
|
NEW RATE
|
OLD RATE
|
ONE YR AGO
|
|
CANADA
|
1.00%
|
1.00%
|
1.00%
|
|
TURKEY
|
5.75%
|
5.75%
|
5.75%
|
|
S.AFRICA
|
5.00%
|
5.50%
|
5.50%
|
|
MEXICO
|
4.50%
|
4.50%
|
4.50%
|
NEXT WEEK:
Looking at the central bank
calendar for next week, there are expectations that Colombia
will follow the trend of lowering interest rates to stimulate its economy but
neither Israel, Nigeria, Thailand, or the Philippines are expected to follow
suit.
Hungary is now in talks with the IMF after the government passed
amendments that restore the central bank’s independence.
|
COUNTRY
|
DATE
|
RATE
|
1 YR AGO
|
|
ISRAEL
|
23-Jul
|
2.25%
|
3.25%
|
|
HUNGARY
|
24-Jul
|
7.00%
|
6.00%
|
|
NIGERIA
|
24-Jul
|
12.00%
|
8.75%
|
|
THAILAND
|
25-Jul
|
3.00%
|
3.25%
|
|
NEW
ZEALAND
|
26-Jul
|
2.50%
|
2.50%
|
|
PHILIPPINES
|
26-Jul
|
4.00%
|
4.50%
|
|
COLOMBIA
|
27-Jul
|
5.25%
|
4.50%
|
|
|
|
|
|
www.CentralBankNews.info
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