{"id":22148,"date":"2011-07-01T17:46:00","date_gmt":"2011-07-01T21:46:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=02e8f113ac2657c2abd62b2ceb89f60f"},"modified":"2011-07-01T17:46:00","modified_gmt":"2011-07-01T21:46:00","slug":"monetary-policy-week-in-review-2-july-2011","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/01\/monetary-policy-week-in-review-2-july-2011\/","title":{"rendered":"Monetary Policy Week in Review – 2 July 2011"},"content":{"rendered":"

Over the past week there were 6 central banks announcing monetary policy decisions.  Only Kenya (+175bps to 8.00%), and Taiwan (12.5bps to 1.875) increased interest rates.  Meanwhile the central banks of Israel (3.25%), Albania (5.25%), Romania (6.25%), and Russia (8.25%) all held monetary policy settings unchanged.  Also of interest in central banking news was the announcement from the BIS [Bank for International Settlements] around increasing capital requirement<\/a> regulations for globally systemically important banks.  The BIS also featured in the news as it stressed the need for central banks around the world to normalise<\/a> monetary policy in order to promote sustainable economic growth.<\/span><\/span>

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Some of the common themes from the monetary policy statements included caution around the uncertain economic outlook, particularly within the global backdrop of heightened levels of sovereign debt risks.  There was also mention of the recent trends in commodity prices, with several key commodities turning down over the past quarter.  Another common concern was the growth outlook, both domestically, and globally; with the major economies of China and the US showing some weakness in recent economic indicators.
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Following is a selection of the key quotes and comments from the central banks mentioned above. <\/span><\/p>\n