Australia 3M Interbank in 2015
Australia 3M Interbank opened 2015 at 2.70% and closed at 2.34%, a -13.33% move for the year. The high of 2.70% was reached on January 1, and the low of 2.14% on July 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 2.70% | 2.70% | 2.70% | 2.70% | +0.00% |
| Feb | 2.36% | 2.36% | 2.36% | 2.36% | +0.00% |
| Mar | 2.30% | 2.30% | 2.30% | 2.30% | +0.00% |
| Apr | 2.25% | 2.25% | 2.25% | 2.25% | +0.00% |
| May | 2.15% | 2.15% | 2.15% | 2.15% | +0.00% |
| Jun | 2.15% | 2.15% | 2.15% | 2.15% | +0.00% |
| Jul | 2.14% | 2.14% | 2.14% | 2.14% | +0.00% |
| Aug | 2.14% | 2.14% | 2.14% | 2.14% | +0.00% |
| Sep | 2.17% | 2.17% | 2.17% | 2.17% | +0.00% |
| Oct | 2.15% | 2.15% | 2.15% | 2.15% | +0.00% |
| Nov | 2.22% | 2.22% | 2.22% | 2.22% | +0.00% |
| Dec | 2.34% | 2.34% | 2.34% | 2.34% | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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