Currency Markets in the News
Inflation and Monetary Policy
August 4, 2009
This coming Sunday will mark two years since the global financial crisis began. One educational benefit of this trauma has been to clarify what it means for central bankers to promote price stability. For certain central banks, such is the only macroeconomic objective of monetary policy, although even in those single-purpose frameworks, price stability can […] More
Central Bank Watch
National Bank of Romania Cuts Key Rate and Reserve Requirement
August 4, 2009
Romania’s central bank implemented its fourth monetary policy rate reduction, an as-expected 50-basis point cut to 8.5%. Prior reductions amounted to 25 bps on February 4, and 50 bps each on June 5 and June 30. A peak of 10.25% had been maintained since end-July of 2008 until early February. Consumer price inflation of 5.9% […] More
Central Bank Watch
Reserve Bank of Australia Drops Easing Bias
August 4, 2009
Australian monetary officials kept the cash rate at 3.0%, where such has been since April 7. The rate had been cut in six steps from a peak of 7.25% at the start of last September. A statement from policymakers dropped a prior reference to available scope for further easing if needed but at the same […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Stock Slip in Profit-Taking
August 4, 2009
Moderate counter-trend movements have been seen in several markets. Yen and dollar are up. Stocks fell. Gold down but oil up. While stocks were mixed in the Pacific Rim (up 1.1% in Australia and +1.8% in the Philippines but down 1.2% in Singapore and 1.4% in Taiwan), such have traded down by 0.7% in Britain […] More
