Currency War Series

Reserve Bank of India leaves the CRR unchanged

Dec 01, 2015 05:58 am UTC| Commentary Central Banks

By assessing the current and evolving macroeconomic situation, the Reserve Bank of India has decided to to keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 pct of net demand and time liability...

Russian sanctions to weigh on Turkish growth prospects and delay CBR cuts

Dec 01, 2015 05:25 am UTC| Commentary Central Banks

As expected, Russia imposed economic sanctions on Turkey for shooting down its warplane on November 24, 2015. Turkeys income from Russia on trade related basis is c. 2% of its GDO, with Russia limiting exposure to Turkey,...

Currency War Series

RBA leaves cash rate unchanged, likely to be on hold till February

Dec 01, 2015 04:41 am UTC| Commentary Central Banks

Reserve Bank of Australia has decided to leave the cash rate same at 2.0%, as broadly expected and markets were not surprised at this decision. Australias domestic economy growth is seen as moderate but there is a slow...

India's July-September GDP not a game-changer for today’s RBI review

Dec 01, 2015 02:33 am UTC| Commentary Economy Central Banks

Indias growth maintained its spot as amongst the fastest in the region. Real GDP growth rose to 7.4% YoY in 3Q 2015 (second quarter FY15/16) in line with expectations and higher than 7% the quarter before. The underlying...

Currency War Series

ECB to cut deposit rate 10bp, extend QE by three months

Nov 30, 2015 23:56 pm UTC| Commentary Central Banks

The ECB is expected to announce a 10bp cut of the deposit rate to -0.3%, a three-month extension of the QE program to December 2016, and an increase in the monthly pace of purchases by 10 billion to 70 billion per month....

Currency War Series

Brazil's COPOM to keep policy rates stable

Nov 30, 2015 22:17 pm UTC| Commentary Central Banks

Last week brought renewed uncertainty on the Brazilian policy outlook. A new round of arrests in the Carwash probe raises questions about the feasibility of passing fiscal measures. At the same time, COPOM delivered a...

Russia's sanctions on Turkey to weigh on growth prospects and delay CBR cuts

Nov 30, 2015 19:55 pm UTC| Commentary Central Banks

The deterioration of trade relations between Russia and Turkey will likely be more detrimental to the Turkish economy. Turkeys Russia related trade income is approximately USD15-16bn (or c.2% of GDP), including exports of...