What we are reading today …
White House. Venezuela. Tariffs. “On or after April 2, 2025, a tariff of 25 percent may be imposed on all goods imported into the United States from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties. Duties imposed by this order will be supplemental to duties on imports already imposed pursuant to IEEPA, section 232 of the Trade Expansion of 1962, section 301 of the Trade Act of 1974, or any other authority.” — Executive Office of the President.
Economic/political research note: A cursory review of the CIA World Factbook identified no country in the Eastern Caribbean Currency Union as among Venezuela’s top trading partners. No member of the Eastern Caribbean Currency Union has Venezuela among its top five import partners.
European Central Bank. Money supply. “Annual growth rate of broad monetary aggregate M3 increased to 4.0% in February 2025 from 3.8% in January (revised from 3.6%). Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 3.5% in February from 2.7% in January.” — European Central Bank.
The data …
Foreign exchange per the Board of Governors of the Federal Reserve System.
EUR/USD=1.0806
GBP/USD=1.2896
USD/JPY=148.9800
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Administered rates per the Board of Governors of the Federal Reserve System.
Discount Window: 4.50%
Effective Federal Funds Rate: 4.33%
Interest on Reserve Balances: 4.40%
Overnight Reverse Repurchase Facility Rate:4.25%
Reference Rates per the Federal Reserve Bank of New York.
Effective Federal Funds Rate:4.33%
Overnight Bank Funding Rate: 4.33%
Secured Overnight Financing Rate:4.33%
Broad General Collateral Rate:4.31%
Tri-Party General Collateral Rate:4.31%
Foreign exchange per the Eastern Caribbean Central Bank.
USD/XCD=2.70
GBP/XCD=3.48854
EUR/XCD=2.90831
CAD/XCD=1.89003
JPY/XCD=0.01792
KWD/XCD=8.75458
AED/XCD=0.7351
CNH/XCD=0.37167
Administered rates per the Eastern Caribbean Central Bank.
ECCB Discount Rate: 3.0%
ECCB Call Rate: 2.4%
ECCB Fixed Deposit Rate (one month): 2.8%
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