Central Bank Watch
Bank of Thailand Eases Policy
January 14, 2009
On Friday, the Bank of Korea cut its key benchmark by 50 basis points to 2.5%. That rate is now down 275 basis points cumulatively from 5.25%. Today’s spotlight belonged to another Asian central bank, as the Bank of Thailand followed up on a 100-bp reduction in early December by reducing its rate by 75 [...] More
Currency Markets in the News
The Least The ECB Should Do
January 14, 2009
The ECB will announce a fourth consecutive monthly rate cut at 12:45 GMT tomorrow. Market participants expect a reduction of 50 basis points but not more. Officials have been coy in their rhetoric, pointing out that 175 basis points of reduction in the last three months are already in the pipeline. With the February meeting [...] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar Somewhat Lower
January 14, 2009
The dollar has dropped 1.4% against the volatile Australian dollar and has lost 0.4% against sterling and the Canadian dollar, 0.3% against the euro, and 0.2% relative to the Swiss franc. Dollar/yen edged 0.1% higher. European stocks tumbled further: Dax down 1.4%, Ftse off 1.7%, and Cac40 down 0.9%. In the Pacific Rim, the Nikkei and Hang [...] More
