Central Bank Watch
Malaysian Monetary Policy Remains on Hold and Appropriately Accommodative
August 25, 2009
Bank Negara’s Overnight Policy Rate was left at 2.0% as expected. This was the fourth consecutive policy meeting to leave policy unchanged. Previously, the rate was cut three times: November 24th by 25 basis points, January 21st by 75 basis points and February 24th by 50 basis points. Malaysia has been in recession with GDP […] More
Central Bank Watch
Bernanke's Reappointment
August 25, 2009
For a variety of reasons, President Obama’s announced decision to reappoint Fed Chairman Bernanke to a second four-year term beginning February 1st has been received well. Major business newspapers have not yet run editorials on the action. However, the FT editorial page recommended this move a few weeks ago. While the WSJ editors have been […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Obama To Reappoint Fed Chairman Bernanke Today
August 25, 2009
Overnight movements of the dollar have been narrowly mixed, with gains of 0.2% against the loonie and 0.1% versus sterling, no change against the euro and Australian dollar, and declines of 0.3% relative to the yen and 0.1% against the kiwi and Swiss franc. Chinese stocks suffered another big decline, falling 3.7%. Most other Pacific […] More
Larry's Blog
NBC and Reuters Reporting Bernanke Reappointment to be Made Tuesday
August 25, 2009
This evening around 21:30 EDT (01:30 GMT), U.S. press sources leaked news that President Obama will announce the reappointment of Fed Chairman Bernanke to a second four-year term on Tuesday from his vacation on Martha’s Vineyard. The leaked nature of the story is unusual in itself, and the timing contrasts with the initial appointment of […] More
Central Bank Watch
Bank of Israel Raised Key Policy Rate To 0.75% from 0.50%
August 25, 2009
The Bank of Israel unexpectedly raised its key rate nineteen days after ending its program of bond buying. A statement from monetary officials notes that policy remains expansive and speaks about a desire to balance the need to contain inflation, which is expected to hover around the target ceiling, against a mandate to promote growth […] More
