The past week in monetary policy saw 12 central banks announce interest rate decisions. Those that cut rates were: Vietnam -100bps to 13.00% and Mozambique -25bps to 13.50%, while Ghana increased +100bps to 14.50%. Those that held interest rates unchanged were: Russia 8.00%, Japan 0.10%, Armenia 8.00%, Indonesia 5.75%, Fiji 0.50%, Pakistan 12.00%, Korea 3.25%, Serbia 9.50%, and Peru 4.25%. Also making headlines in monetary policy was an announced monetary policy tightening by the Singapore Monetary Authority, a 150 basis point cut to the RRR by Croatia, and selected reductions of the RRR by the People's Bank of China.
Looking at the central bank calendar, the week ahead features monetary policy decisions due to be announced by two major emerging markets; Brazil and India (China could also feature, after its weaker economic numbers announced last week). Elsewhere the major banks set to meet are Canada (NYSEARCA:CAD), Sweden (SEK), and Turkey (TRY). Monetary policy meeting minutes are also due from the Reserve Bank of Australia and the Bank of England.
|Apr-17||INR||India||Reserve Bank of India|
|Apr-17||CAD||Canada||Bank of Canada|
|Apr-18||BRL||Brazil||Banco Central do Brasil|
|Apr-18||SEK||Sweden||Bank of Sweden|
|Apr-18||TRY||Turkey||Central Bank of Turkey|
|Apr-19||PHP||Philippines||Central Bank of Philippines|
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