The past week saw 11 central banks announce monetary policy decisions, with just 3 making adjustments to interest rates. All 3 policy moves were tightening from emerging markets: Colombia + 25bps to 3.75%, Vietnam +100bps, and Russia +25bps to 8.25%. Meanwhile those that held rate unchanged were: Israel 3.00% Botswana 9.50% US 0.25% Namibia 6.00% New Zealand 2.50% Japan 0.10% Hong Kong 0.50% and Egypt 8.25%.
Next week the Reserve Bank of Australia will announce its monetary policy decision, with the rate expected to remain unchanged at 4.75%. Also up next week is the European Central Bank which will likely hold its rate at 1.25%, making for an intermittent tightening cycle following its previous 25 basis point hike last month. The Bank of England is also set to announce policy, and is likely to keep its asset purchase program unchanged at GBP 200 billion, and the bank rate also unchanged at 0.50%.
Article source: http://www.centralbanknews.info/2011/04/monetary-policy-week-in-review-30-april.html