Canadian Economic Update
June 18, 2009
Growth: Canada was hit by falling commodity prices, the U.S. recession, C-dollar appreciation earlier this decade, and global financial difficulties. Real GDP contracted at an annualized pace (saar) of 3.7% in the fourth quarter of 2008 followed by 5.4% saar in 1Q09. Inventories accounted for 3.6 percentage points (ppts) of the 5.4% negative growth pace […] More
Central Bank Watch
Swiss National Bank Retains Aggressively Loose Monetary Stance
June 18, 2009
Following a quarterly policy review, SNB officials agreed to continue the easing steps announced in March. The 3-month Libor target range stays at 0-0.75% with a point guideline of 0.25%. Intervention will be continued to prevent further appreciation of the Swiss franc against the euro. Quantitative policy measures are being done to limit capital market […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Weaker Pound
June 18, 2009
The pound lost 0.9% in response to poor British data. The dollar is steady otherwise, with no net change against the euro, Aussie dollar and kiwi, a dip of 0.1% against the Swiss franc, and a 0.2% gain relative to the yen and Canadian dollar. Equity markets continue to slide. In the Pacific Rim, stocks […] More
