Hungarian and Polish central bankers will decide on monetary policy

Posted on July 24th, 2009 in Currency Rate, Money Market | Comments Off

Hungarian and Polish central bankers will decide on monetary policy next week, and while no change is expected in Warsaw, Budapest’s policy makers are poised to cut interest rates.

Analysts and financial markets both expect monetary easing in Hungary Monday. All 16 private bank economists polled by Dow Jones Newswires see the Hungarian Monetary Policy Council lowering the policy rate from 9.5%, the highest in the European Union. And 13 of them expect a 50 basis-point rate cut, while the others foreseeing that or a 25 basis-point cut.

Read the rest of this entry »

Moderate selling of U.S. dollars by banks

Posted on May 24th, 2009 in Currency Rate, Money Market | Comments Off

Moderate selling of U.S. dollars by banks near the session’s end provided support for China’s yuan, which ended unchanged against the U.S. unit Friday despite a higher dollar-yuan central parity.

On the over-the-counter market, the dollar ended at CNY6.8310 around 0930 GMT, unchanged from Thursday’s close. It traded between CNY6.8310 and CNY6.8320. Read the rest of this entry »