Archive for November 24th, 2009

Larry's Blog

U.S. Healthcare Debate

November 24, 2009

New York Times columnist David Brooks has a piece today that casts healthcare legislation as a choice of two different sets of values, an America that offers more security and better decency or one that retains greater economic vitality, and that indeed is how opponents against changing the present system are generally casting this debate.  […] More

Central Bank Watch

Malaysian Central Bank Held Steady at 2.0%

November 24, 2009

Bank Negara’s key rate of 2.0% since last February 24th was declared to be still “appropriate” in a statement released after policymakers met.  From a peak of 3.5%, monetary officials only implemented three reductions in all, the aforementioned drop of 50 basis points last February and prior cuts of 75 bps in January 2009 and […] More

Currency Markets in the News

GDP Growth and Unemployment in the United States, Japan and Germany

November 24, 2009

The first, second, and fourth largest nation-state economies of the world have emerged from deep recession, and each recorded an expansion of real gross domestic product in the third quarter of 2009.  Previous cyclical higher in GDP were reached in the first quarter of 2008 in the German and Japanese cases and in the second […] More

Central Bank Watch

Rate Cut in Russia, Too

November 24, 2009

The Central Bank of the Federation of Russia reduced its refinancing rate by a further 50 basis points to 9.0%, the third reduction of that amount since September 30.  Previous cuts were made on September 15 and August 10 of 25 bps each and on July 13, June 5, May 14, and April 24 of […] More

Central Bank Watch

Colombian Benchmark Interest Rate Sliced 50 Basis Points to 3.5%

November 24, 2009

Banco de La Republica, Colombia’s central bank, implemented a ninth and unexpected rate cut of 50 basis points, citing reduced expected inflation, lower actual inflation at a sub-target 2.7%, and weak economic activity.  A drop in retail sales of 7.3% over the last 12 months was the worst outcome since at least 1998, and industrial […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Chinese Stocks Sharply Lower

November 24, 2009

Chinese and other equities fell on new worries that banks will have to raise capital following a report that China’s five largest banks had to submit plans to the authorities.  Stocks dropped 3.2% in China, 2.1% in Thailand, 1.9% in Vietnam, 1.5% in Hong Kong, 1.0% in Japan, and 0.7% in Australia.  In Europe, however, […] More

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