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Moscow: Money market rates last year predominantly stayed near the Bank of Russia key rate.
4billion on Thursday, dealers expect money market rates to remain at similar levels as the Central Bank of Nigeria (CBN) is anticipated to mop-up the liquidity via OMO auction.
It is believed that the UAE central bank is planning to make changes to the way in which banks quote indicative money market rates.
We would like to influence money market rates to more closely follo the BSP rate which is the RRP (reverse repurchase) rate and we will be using single instrument for OMO and this is the TDF," said Tetangco.
Eurozone money market rates fell to new lows on Tuesday and German Bunds held near a record one per cent yield as the region's weak recovery and Russian sanctions reinforced expectations the European Central Bank would loosen monetary policy.
The stock brokerage said equities paused for a breather last week, triggered in part by China's move to raise its money market rates to avert inflationary pressure.
6 interval by employing a managed floating FX regime; the variation interval would have been 4-5 in case of free floating FX regime; the costs for a rather stable RON were quite large fluctuations of money market rates-The volatility of the RON could increase in the future -The governor is concerned about weak economic growth,but the NBR will continue to pursue the stability of pricesand is not ready to cut rates aggressively -A resumption of economic growth based solely onhousehold consumption should be avoided, because C/Adeficit is still high at around 4% of GDP -Heavy bond issuance of the MinFin in January put pressure on money market rates.
Money market rates for account balances of $100,000 or more earn an APY of 1.
Higher money market rates resulting from the credit crunch threatened to lift the monthly out-goings for many of these borrowers.
The policy was aimed at keeping the balance high with money market rates held down close to zero.
Yorkshire Building Society has responded to recent reductions in money market rates, the wholsesale cost of money, by cutting rates on its two-year fixed mortgages.
The Federal Reserve does this by collapsing money market rates and enticing investors back into riskier assets.