News – Page 1124

December 20
2007

British Pound Declines for a Third Day

Pound sterling is experiencing a continuous downfall that started more than a month ago in earlier November. GBP/USD has lost more 5.8% since November 9 — when it reached its maximum value in many years. After gaining about 0.3% this Monday, GBP/USD showed the same-sized fall on Tuesday after CPI data was published reporting a lower than expected prices growth. Wednesday was even […]

December 19
2007

Czech and Polish Central Banks Leave Rates Unchanged

After two other European central banks decided to hold their current interest rates, Czech and Polish banks chose to follow the same way and didn’t change their reference interest rates despite the fact that they both raised the rates at the end of November. Today both central banks had their scheduled monetary policy meetings at the same time at 2 p.m. GMT. Czech National Bank left rate at 3.50%, […]

December 19
2007

Swedish Riksbank Leaves Rate at 4.00%

Swedish central bank left the main interest rate unchanged at 4.00% during the meeting of the Executive Board on 18 December. The economy growth slowdown didn’t allow the Riksbank to increase the interest rate according to their uptrend policy maintained since January 25, 2006. The Board has noted that the economic activity in Sweden is […]

December 18
2007

Chinese Yuan Appreciates on Diversification

The United States Treasury International Capital report showed that China has been selling its Treasuries for a third month in a row in October 2007, which may signal for the start of the funds diversification. Yuan rose by 0.06% after this release, climbing up to 7.3828 per U.S. dollar from 7.3873 at the close yesterday, […]

December 18
2007

Japanese Yen Falls Today

The Japanese yen fell against majority of the world currencies on the rising risk appetites of the global and Japanese investors along with the extremely low probability for the rate hike by the central bank of Japan. As almost always the case with the yen falling — the most gaining currencies are the ones with the highest interest rates set by central banks — i.e. the South African rand and the New Zealand dollar. Surveys of the Japanese financial companies show their urge […]

December 17
2007

Hungarian Central Bank Holds Rate – Forint Drops

Magyar Nemzeti Bank (Hungarian Central Bank) decided today during the Monetary Council’s meeting to hold the main refinancing interest rate at the same level — 7.50%, after the last cut made from 7.75% by MNB on September 25. Hungary is still maintaining the highest interest rate in the European Union. While the target inflation of the central bank is 3.0% the actual number is far from it — 7.1% according to the November data. […]

December 15
2007

Canadian Dollar Falls Sharply

Canadian dollar declined to its 3-month lowest value against U.S. dollar this week continuing the correction, which began on November 7. USD/CAD gained about 1.3 percent this week going up from 1.0040 to 1.0170 making it sixth bullish week in a row — first such bullish sequence since February-March of this year. CAD started to lose against its southern neighbor after Canadian Prime Minister […]

December 14
2007

Central Bank of Chile Raised Interest Rate

Yesterday Chilean central bank increased its interest rate by 0.25 basis points up to 6.0%. It was the first rate hike in Chile since September 13 this year. Central bank has been on its quest to destroy the risks of elevated inflation levels since July. But the break which occurred during October-November gave the traders […]

December 13
2007

Swiss Libor Rate Unchanged at 2.75%

Swiss National Bank chose to keep the national three-month Libor (interest rate) unchanged at 2.75% after it was increased by 0.25% back in September 2007. After this announcement Swiss franc gained a little against all other major currencies except the Japanese yen. The reason to stop increasing the interest rates further came from two sides: first, Swiss National Bank (SNB) is expecting that GDP growth […]

December 13
2007

Central Bank of Chile to Decide on Interest Rate Today

The Central Bank of Chile will be releasing its statement with the target interest rate. The current interest rate is maintained at 5.75% after three rate hikes by 0.25% going in a row from July to September 2007. Majority of the analysts surveyed about the forthcoming rate decision agree that the Chilean interest rate will […]