More Central Bank Panic: Russia, Serbia Cuts Interest Rates
Russia’s central bank lowered its main interest rate and signaled more policy easing ahead if inflation continues to ease as the economy buckles under low oil prices and sanctions over Ukraine.The one-week auction rate was cut by one percentage point to 14 percent, the central bank said in a statement on its website Friday. Seventeen of 32 economists in a Bloomberg survey predicted the move, with nine seeing no change and five forecasting a bigger reduction. Another analyst predicted a half-point cut.The Bank of Russia is pressing ahead with monetary easing after a surprise 2 percentage-point cut at its January meeting as weekly inflation decelerated.Even with price growth more than fourfold its mid-term target, the regulator is responding to calls from business to unwind December’s emergency increase to 17 percent to buoy an economy entering its first recession in six years.
Serbia’s central bank cut its benchmark interest rate for the first time since November as it fights a recession and the threat of deflation amid the government’s effort to tame the budget deficit.The National Bank of Serbia lowered its one-week repurchase rate by half a point to 7.5 percent, it said in a statement on its website. Six of 23 economists surveyed by Bloomberg predicted a quarter-point reduction, eight forecast a half-point cut and nine expected no change.Policy makers reduced the cost of borrowing amid “increased global liquidity as a result of the ECB’s quantitative easing” program, the bank said in a statement on its website. They also took into consideration “fiscal consolidation measures and structural reforms, as well as the conclusion of the International Monetary Fund program.”With one of the highest benchmark rates in emerging Europe, Serbia’s central bank is caught between trying to help the economy emerge from its third recession since 2009 while also shoring up the dinar, which fell after the bank’s November move. Last week, non-executive central bank Chairman Nebojsa Savic said policy makers should hold rates at least until May, when the International Monetary Fund arrives to review Serbia’s compliance with conditions of a stand-by loan.
Source: http://prudentinvestornewsletters.blogspot.com/2015/03/more-central-bank-panic-russia-serbia.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
A 1% cut is nothing to write home about and lets not forget that Russia put up interest rates due to low oil prices the other month.
The OPEC members tried to upset Russia by crashing the paper price of oil (The real cost could be hidden) to please its puppet masters (Jewish owned banksters) and the plan didn’t work so it will be back to lower interest rates in Russia and higher oil prices from everyone else.
I would like to see them raise rates in the USA by just 1% and then lets see who realy owns their homes
Russia has little debt and the USA has lots of debt so I think I can see who’s going to win any economic war