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Monetary Policy Week in Review - 21 April 2012
The past week in monetary policy saw two major emerging market economy's central banks cut rates; with India cutting by a surprise 50 basis points to 8.00%, and Brazil cutting an expected 75 bps to 9.00%. The only other bank to adjust rates was Mongolia; hiking 100bps to 13.25%. Meanwhile those that held interest rates unchanged were: Canada 1.00%, Chile 5.00%, Turkey 5.75%, Sweden 1.50%, and the Philippines 4.00%. Looking at the central bank calendar, the week ahead sees the US Federal Open Market Committee (FOMC) meeting to determine its policy setting and forecasts; while it's unlikely to see further QE; people ... (full story)