Last week in monetary policy seven central banks decided on interest rates with Mozambique cutting its rate, Iceland raising its rate and the other five central banks (Sri Lanka, Latvia, Chile, Ghana and Jamaica) keeping rates unchanged. Mozambique continued its aggressive rate cutting campaign, reducing rates for the sixth time this year as inflation drops, while Iceland raised its rate for the fourth time this year as inflation and inflationary expectations remain well above the central bank’s target. The main message from the five banks that held rates was that uncertainty and anxiety still dominates the global ... (full story)