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interest rates

Czech central bank holds rates steady as hike clues awaited
Business & Finance

Czech central bank holds rates steady as hike clues awaited

  • All analysts in a Reuters poll this week forecast the main two-week repo rate to stay at 0.25%, where the central bank has kept it since last May following a series of cuts when the coronavirus pandemic started.
  • The central European country has been one of the worst-hit by the latest waves of the pandemic and the central bank has warned of risks to longer-than-expected restrictions on retail and restaurants.
Published 24 Mar, 2021 06:42pm
Egypt's central bank keeps key interest rates on hold
Business & Finance

Egypt's central bank keeps key interest rates on hold

  • The bank's monetary policy committee held the overnight lending rate at 9.25% and the overnight deposit rate at 8.25% for a third consecutive time, after cutting rates in September and November.
  • "Meanwhile, international prices for oil, food and other commodities have surged to post-pandemic highs, with the level of uncertainty increasing regarding their future price trajectories," the bank said.
Published 18 Mar, 2021 10:01pm
Czech rate setters bide time before hitting start on rate hikes
Business & Finance

Czech rate setters bide time before hitting start on rate hikes

  • "I still perceive greater risk that we start a premature tightening of monetary policy," board member Tomas Holub told daily Hospodarske Noviny in an interview released on Tuesday.
  • "For me, that is a greater risk than if we 'sleep in' a little versus what may perhaps seem as optimal looking back a year later."
Updated 16 Mar, 2021 10:02pm
Bank of Canada seen resisting investor expectations of early rate hike
Business & Finance

Bank of Canada seen resisting investor expectations of early rate hike

  • The BoC has signaled that interest rates will stay at a record low of 0.25% until 2023, when it expects the economy to reach its potential.
  • "They have to acknowledge that the outlook is better," said Andrew Kelvin, chief Canada strategist at TD Securities. "At the same time they don't want to encourage runaway expectations for near-term rate hikes."
Updated 08 Mar, 2021 10:18pm
Brazil's 2021 inflation seen at 4.0pc, next year's rate outlook also rises: survey
World

Brazil's 2021 inflation seen at 4.0pc, next year's rate outlook also rises: survey

  • The average forecast for IPCA consumer price inflation at the end of this year rose from 3.9% a week ago, according to the latest weekly "FOCUS" survey of over 100 economists, rising further above the central bank's official goal of 3.75%.
  • A persistently weak exchange rate, strong global commodity prices and growing concerns over the government's fiscal position are all pushing inflation expectations higher.
Updated 08 Mar, 2021 10:19pm
Russia seen holding interest rates throughout 2021
Business & Finance

Russia seen holding interest rates throughout 2021

  • The consensus forecast of 20 analysts and economists polled in late February suggested the central bank would hold its benchmark rate at 4.25% throughout 2021. Forecasts for the year-end ranged from 4.0% to 5.5%.
  • Analysts forecast inflation would rise to 5.3% in the first quarter of 2021 before gradually slowing below the 4% target to 3.8% by the end of the year.
Published 26 Feb, 2021 09:01pm
Czech central bank offers alternative with slower rate rise
Business & Finance

Czech central bank offers alternative with slower rate rise

  • The central bank left interest rates unchanged on Thursday, while the board saw substantial risks to staff forecasts from more prolonged anti-pandemic measures than the outlook assumes.
  • The "Longer-lasting pandemic-induced downturn scenario" predicts slower growth of the interbank rate (PRIBOR), a proxy for the central bank's main rate.
Published 05 Feb, 2021 08:35pm
Egypt's central bank keeps key interest rates on hold
Business & Finance

Egypt's central bank keeps key interest rates on hold

  • The central bank said keeping rates on hold remained consistent with its policy of achieving an inflation target of 7% plus or minus 2% and price stability over the medium term.
  • Globally, economic activity remains subdued despite the accommodative financial conditions, as the second wave of the COVID-19 pandemic.
Updated 04 Feb, 2021 11:30pm