Bank Indonesia kept its benchmark interest rate unchanged for a third straight month at it’s April meeting. The pause came after six consecutive hikes to tame inflation and strengthen the rupiah exchange rate. BI said the decision came on the back of a stronger currency and easing price pressures. The benchmark 7-day reverse repurchase rate now stands at 5.75%, the deposit facility at 5.00% and the lending facility at 6.50%, their highest level since 2009 and in line with market forecasts. … Continue reading “Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 With Rupiah Stable”
Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 25 basis points to 6.25%. Rates are now the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising … Continue reading “Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007”
Bank Indonesia Raised Rates Another 25 basis points to Highest Level Since 2009
Bank Indonesia increased interest rates by 25 bps during the first meeting of 2023, a sixth consecutive hike, on Thursday as it sought to tame inflation and strengthen the rupiah exchange rate. The benchmark 7-day reverse repurchase rate now stands at 5.75%, the deposit facility at 5.00% and the lending facility at 6.50%, their highest level since 2009 and in line with market forecasts. So far since August last year the central bank has lifted rates by 225bps. Indonesia’s annual inflation rate … Continue reading “Bank Indonesia Raised Rates Another 25 basis points to Highest Level Since 2009”
Bank Indonesia Raised Rates by 25 basis points to Highest Level Since 2009
Bank Indonesia increased interest rates by 25 bps during the last meeting of 2022, a fifth consecutive hike, on Thursday as it sought to tame inflation and strengthen the rupiah exchange rate. The benchmark 7-day reverse repurchase rate now stands at 5.5%, the deposit facility at 4.75% and the lending facility at 6.25%, their highest level since 2009 and in line with market forecasts. So far in 2022, the central bank has lifted rates by 200bps. Indonesia’s annual inflation rate fell to … Continue reading “Bank Indonesia Raised Rates by 25 basis points to Highest Level Since 2009”
Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 50 basis points to 5.50% and follows a 75 basis-point increase at the last meeting. It was the seventh consecutive rate hike, pushing borrowing costs to a new high since early-2009. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising its base rate to combat inflation. Later the same day, Taiwan’s central bank announced a 12.5-basis-point increase to 1.75%, The Philippine … Continue reading “Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs”
Freeport McMoran Earnings Slide Along with Copper but Beat Expectations
Freeport-McMoRan, the world’s biggest publicly listed copper producer reported quarterly earnings on Thursday of $404 million from $1.4 billion in the year-ago quarter due to lower copper prices. The results beat expectations and FCX gave a bullish demand outlook for copper going forward. FCX has significant reserves of copper, gold, molybdenum, cobalt, oil, and gas. The company is a key player in energy transition. FCX stock price has been largely mirroring copper prices. $FCX has been repaying debt and distributing … Continue reading “Freeport McMoran Earnings Slide Along with Copper but Beat Expectations”
Bank Indonesia Raised Rates by Another 50 basis points to 4.75% to Tame Inflation
Bank Indonesia increased interest rates by 50 bps which was more than expected on Thursday as it sought to stall in inflation and strengthen the rupiah exchange rate. Indonesia’s annual inflation rate accelerated to 5.95% in September 2022, marking the fastest rise in consumer prices since October 2015. The move was the third hike this year and bringing borrowing costs to the highest since February 2020. Bank Indonesia (BI) raised the 7-day reverse repurchase rate by 50 basis points to … Continue reading “Bank Indonesia Raised Rates by Another 50 basis points to 4.75% to Tame Inflation”
What to expect with Freeport McMoran Earnings
Freeport-McMoRan, the world’s biggest publicly listed copper producer reports quarterly earnings on October 20. FCX has significant reserves of copper, gold, molybdenum, cobalt, oil, and gas. The company is a key player in energy transition. FactSet analyst estimates provide an EPS consensus of $0.30 and a sales consensus of $4.99bn. FCX stock price has been largely mirroring copper prices and has traded between $24.80 and $51.99 and year-to-date the stock price is down over -32.2% at around $28.14. $FCX has … Continue reading “What to expect with Freeport McMoran Earnings”
Philippines Central Bank Raised Rates by 50 basis points to 4.25%, Moves to Support Peso
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 50 basis points to 4.25%, the highest since August 2019. BSP joined Indonesia and some other Asian central banks raising rates. Hong Kong’s monetary authority had also raised its base rate by 75 basis points to 3.5% on Thursday. Later the same day, Taiwan’s central bank announced a 12.5-basis-point increase to 1.625%, Vietnam’s central bank said it would raise its benchmark rate, currently 4%, by … Continue reading “Philippines Central Bank Raised Rates by 50 basis points to 4.25%, Moves to Support Peso”
Bank Indonesia Raised Rates by 50 basis points to 4.25% to Rein in Inflation
Bank Indonesia increased interest rates by 50 bps which was more than expected on Thursday as it sought to rein in inflation. The Indonesian central bank sees end-2022 headline inflation at slightly above 6%. The move follows a plethora of central banks hiking rates this week. First off was Sweden’s Riksbank on Tuesday with a 75 basis-point hike. Wednesday the Fed raised 75bps. Brazil’s central bank remained unchanged after the FOMC. Bank Indonesia (BI) raised the 7-day reverse repurchase rate … Continue reading “Bank Indonesia Raised Rates by 50 basis points to 4.25% to Rein in Inflation”