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This week in monetary policy: Israel, Kenya, Kyrgyzstan, Indonesia, Mauritius, Canada, Fiji, Bulgaria, Gambia & Dominican Rep.

Sunday, May 27, 2018 1:49

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This week – May 27 through June 2 – central banks from 10 countries or jurisdictions are scheduled to decide on monetary policy: Israel, Kenya, Kyrgyz Republic, Indonesia, Mauritius, Canada, Fiji, Bulgaria, Gambia and Dominican Republic.

Indonesia’s central bank will hold an additional monthly meeting of its board of governors on Wednesday, May 30, triggering speculation that it will raise interest rates for the second time in less than two weeks to shore up the exchange rate of its rupiah and Indonesian assets.

On May 17 Bank Indonesia raised its benchmark BI 7-day reverse repo rate by 25 basis points to 4.50 percent – its first rate hike since November 2014 – but this did little to reverse the fortunes of the rupiah which has weakened in the last month.

Wednesday’s meeting by BI’s board will be the first to be chaired by Perry Wariyo who took over from Agus Martowardojo on May 24.

Wednesday also sees the first meeting of the Bank of Mauritius’ new monetary policy committee, which includes three new members.

On May 15 Mauritius’ central bank reconstituted its monetary policy committee and postponed a meeting scheduled for May 18 to May 30 “due to administrative matters.”

The new committee will again be chaired by Yandraduth Googoolye, who took over as governor in December 2017, and includes previous members: Renganaden Padayachy, Mahendra Vikramdass Punchoo, Mustag Mohammad Namdarkhan, Streevarsen Narrainen.

The new committee members are Sanjeev Sobhee and Lim Chang Kwong Lam Thuon Mine, both appointed by the prime minister, along with Ms. Pricilla Pattoo, who is appointed by the finance and economic development minister.

The Bank of Mauritius has for several years been preparing to implement a new monetary policy framework to improve the responsiveness of market interest rates to changes in the policy rate.

Following table includes the name of the country, the date of the next policy decision, the current policy rate, the result of the last policy decision, the change in the policy rate year to date, the rate one year ago, and the country’s MSCI classification.

The table is updated when the latest decisions are announced and can always accessed by clicking on This Week.

WEEK 22
MAY 27 – JUN 2, 2018:
COUNTRY	DATE	RATE	LATEST	YTD	1 YR AGO	MSCI
ISRAEL	28-May	0.10%	0	0	0.10%	DM
KENYA	28-May	9.50%	-50	-50	10.00%	FM
KYRGYZSTAN	28-May	5.00%	0	0	5.00%
INDONESIA *)	30-May	4.50%	25	25	4.75%	EM
MAURITIUS	30-May	3.50%	0	0	4.00%	FM
CANADA	30-May	1.25%	0	0	0.50%	DM
FIJI	31-May	0.50%	0	0	0.50%
BULGARIA	31-May	0.00%	0	0	0.00%	FM
GAMBIA	31-May	15.00%	0	0	20.00%
DOMINICAN REP.	31-May	5.25%	0	0	5.75%

*) ADDITIONAL MONTHLY MEETING

www.CentralBankNews.info

Source: http://www.centralbanknews.info/2018/05/this-week-in-monetary-policy-israel.html

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