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NewsTranscript
00:00 We started this week with this map that we talked about and the most prominent meetings of the central banks that we monitor.
00:10 We end this week with some surprises from some central banks. We will talk about the most prominent that we heard from these banks this week.
00:20 The most prominent and the most followed was the Fed meeting. The Fed meeting of the US that stayed on the interest rates without changing the expectations and confirmed
00:31 and even the dot plot confirmed that we will have three operations to reduce interest rates throughout this year and we had a rise in the expectations of interest rates for the next two years and the following.
00:43 In 2025 and 2026, the Fed said that the long term interest rate will be between 2.5% and 100% and also raised it by 10%.
00:57 This meeting had a very positive impact on Wall Street. We saw a rise and a rise in the US interest rates to a level of measurement.
01:06 We had confirmation that the Fed, even after the rising numbers that came, still held on to three operations to reduce interest rates.
01:16 The surprise was from the Swiss central bank, which was the first central bank in the advanced markets that takes the step and implements it.
01:27 The Fed reduced the interest rate by 25%, and to a large extent we had a dovestone or a compass to the future of monetary policy in Switzerland.
01:37 The Swiss franc withdrew after this decision, but it is not a problem for the Swiss central bank, since this economy is an economy that relies on export, and therefore the currency withdrawal is a positive thing.
01:52 The interest rate in Switzerland remains below 2% and is at its lowest level in two years.
02:01 This was a surprise for the Swiss central bank to take this step.
02:08 The second surprise was in Turkey, where the Turkish central bank took a surprise step by raising the interest rate by 5%, from 45% to 50%.
02:19 He said that the reason is, of course, the control of inflation.
02:25 The step was a surprise, because in his previous meeting he said that the central bank reached the peak of interest rates, but as we noticed, we had a rise again.
02:34 The real interest rates in Turkey remain in the negative range, because inflation is at 67% and part of this decision is due to the importance of local elections that will be held on March 31.
02:49 Therefore, it seems that the step is an attempt to support the Turkish lira to avoid its withdrawal after these elections, as happened in the presidential elections last year.
02:59 In Australia, we had a fixed rate of interest rates, not decreasing in the horizontal range, but leaving the door open to either a large fixed rate, without saying that there is more to raise.
03:14 The step was very modest, and the Australian dollar withdrew, and the market is now priced at a 45-point decrease, and this year will be the first in August.
03:26 As for the British Central Bank, we had a fixed rate of interest, but for the first time we saw a decrease in interest rates.
03:39 In the previous meeting, we had two votes for the increase in interest rates, and therefore the step was modest.
03:46 Finally, the Brazilian Central Bank, which reduced interest by 50 points to 10.7%, and said that it is possible to change the political path after the May meeting,
03:57 indicating that inflation is at 4.50%, and the Central Bank aims for 3% levels.
04:04 It is clear in general from this week that all central banks, most of them, are heading towards reducing interest rates in the coming period.
04:14 In addition, the Japanese Central Bank, which ended the period of fixed interest rates, and turned interest rates to the range between 0.1% and 0.1%,
04:27 and therefore, if we look at the advanced markets and economies, we have a kind of consistency in movement and integration in the monetary policy.