Central Bank Watch
50 Basis Point Turkish Interest Rate Cut
June 16, 2009
The Central Bank of the Republic of Turkey sliced another 50 basis points off its borrowing and lending rates to 8.75% and 11.25%, respectively. There has been a reduction in every month since November, and the cumulative drop in central bank rates now stands at 800 basis points. Those in April and May had been […] More
Central Bank Watch
Bank of Japan Review
June 16, 2009
The June meeting of the BOJ Policy Board produced no remarkable results. The overnight target stays at 0.1% where such has been for the past six months, and programs to alleviate corporate financial strains and promote bank lending are to continue as they’ve been. The vote was 8-0. The next meetings are scheduled for July […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar and Asian Stocks Lower
June 16, 2009
Yesterday’s dollar upward spike proved short-lived. The dollar has dropped 1.1% against the yen, 0.8% versus sterling, 0.7% relative to the euro, 0.6% against the Swiss franc and Aussie dollar, and 0.5% against the Canadian and New Zealand dollars. The Nikkei (down 2.9%) suffered its biggest daily decline since late March. Stock markets elsewhere in […] More
