Archive for June 2nd, 2009

Currency Markets in the News

Thursday's Triple Central Banking Feature

June 2, 2009

The Bank of England (11:00 GMT), ECB (11:45 GMT) and Bank of Canada (13:00 GMT) unveil credit policy decisions on Thursday.  Policymakers at these central banks have much in common: low policy rates already, deep recessions, and falling inflation.  The Bank of England rate is at 0.5%. Officials have signaled such will not be reduced […] More

Currency Markets in the News

Comparative First-Quarter Growth

June 2, 2009

Advanced economies contracted sharply but not uniformly so last quarter.  In a comparison of the United States, Japan, Euroland, Britain and Canada — which comprise the Group of Seven — Japan suffered the largest drop in real GDP (15.2% seasonally adjusted annual rate), followed by Euroland (9.8% saar), Britain (7.3% saar), the U.S. (5.7% saar) […] More

Central Bank Watch

A Message From the Reserve Bank of Australia

June 2, 2009

Coming into this month’s RBA policy meeting, more and more analysts were predicting no more Australian interest rate changes before 2011.  A chief role of transparent monetary policymaking is to correct investors misconceptions early lest big surprises result.  Data released prior to today’s central bank announcement would have fanned the view that the 3.0% cash […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Consolidation

June 2, 2009

The dollar and sterling are somewhat lower.  The greenback lost 0.8% against the yen, 0.5% versus the Canadian dollar and Swiss franc, 0.3% relative to the euro and Australian dollar and 0.1% against the kiwi.  The dollar rose 0.3% against sterling.  UBS reportedly projects a drop of some 8% in EUR/USD over the coming 3 […] More

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