The past week saw a lot of monetary policy announcements but only a few changes. Of those making changes, India increased +25bps to 6.75%, Chile increased +50bps to 4.00%, and Colombia increased +25bps to 3.50%. Meanwhile the rest held their rates steady (Latvia, Hong Kong, US, Iceland, Norway, Switzerland), but Japan - thought it held its rate unchanged - announced it would undertake further purchases as part of its asset purchase program to give its economy and financial markets a much needed boost following the earthquake and nuclear disaster. Another key story was China announcing a further +50 basis point hike to the required reserve ratio, bringing the total up to 20% for much of the largest banks.
Next week there's no major central bank meetings scheduled, but the Bank of England will release the minutes of its recent monetary policy meeting, which will be useful to gain some insights into what they are thinking about the UK economy and monetary policy.
Article source: http://www.centralbanknews.info/2011/03/monetary-policy-week-in-review-19-march.html