Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 25 bps to 3.25 percent during its May meeting, bringing borrowing costs to the highest level since December 2008, in line with market expectations. The Committee noted that the latest inflation readings were well above the central bank’s target of 2%. said the policy rate will need to be increased somewhat further to bring inflation in line. The bank indicated that it is … Continue reading “Norway Hikes Interest Rate to 3.25 percent, Concerns About Weak Krone”
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”
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”
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”
A Big Week for Central Bank Rate Hikes
The week ahead is being billed as Fed Week; it is so much more there are three days of central-bank decisions with multiple interest-rate hikes on their way. First off will be Sweden’s Riksbank on Tuesday, with a likely 75 basis-point hike. Wednesday the Fed is set to raise 75bps also, with a chance of 100bps. Brazil’s central bank is later after the FOMC. Thursday you get Asian central banks in the Philippines, Indonesia, Japan and Taiwan are all expected … Continue reading “A Big Week for Central Bank Rate Hikes”