Archive for December 10th, 2009

Central Bank Watch

Peruvian Reference Rate Left at Low 1.25%

December 10, 2009

The Central Reserve Bank of Peru retained a 1.25% benchmark interest rate for a fourth consecutive meeting.  The rate had previously been cut in seven straight months by a total of 525 basis points from 6.5%.  A statement by monetary officials said that no change in that level is presently foreseen unless the good inflation […] More

Deeper Analysis

Better-Than-Forecast U.S. and Canadian Trade Figures in October

December 10, 2009

Canada and the United States do a huge amount a trade with one another, so their overall trade positions rarely improve together in the same month or, for that matter, worsen in tandem.  The United States is Canada’s largest export and import market.  Canada is the largest U.S. export market and the second largest origin […] More

Central Bank Watch

Swiss National Bank Turns Off Quantitative Measure

December 10, 2009

After releasing a similar assessment of the Swiss economy to it prior review in September, the Swiss National Bank left its target interest rate on three-month Libor unchanged but discontinued its purchases of Swiss franc-denominated bonds issued by private-sector borrowers, a measure that was introduced nine months ago. Monetary officials also reaffirmed their determination not […] More

Central Bank Watch

Brazilian Selic Rate Left at 8.75% As Expected

December 10, 2009

The Central Bank of Brazil left its benchmark Selic rate at 8.75% where such has been since a 50 basis point cut on July 22nd.  There were four prior cuts in the first half of 2009 of 100 bps in January, 150 bps in March, and 100 bps each in April and June.  Altogether, rates […] More

Central Bank Watch

Bank of England Made No New Policy Moves This Month

December 10, 2009

The Monetary Policy Committee issued a short statement that the Bank Rate is being held at 0.5%, the asset purchase plan total will remain at Gbp 200 billion, and that the total will have been bought within two more months.  The rate has been 0.5% since March, and Gbp 185 billion had been purchased as […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Rebound in Commodity-Sensitive Currencies

December 10, 2009

The U.S. dollar fell 1.3%, 0.9%, and 0.5% against the New Zealand, Australian and Canadian dollars.  The rand strengthened, too. The greenback also lost 0.2% against sterling and 0.1% to the euro and Swiss franc, but it’s 0.5% higher against the yen. Stocks fell 1.4% in Japan, 1.5% in Taiwan, 0.6% in Thailand and 0.7% […] More

Central Bank Watch

Bank of Korea Leaves Benchmark Rate at 2.0%

December 10, 2009

As expected, the 2.0% central bank rate was retained, and the accompanying statement reiterated that the “accommodative” policy stance would be continued “for the time being.”  The last cut was done ten months ago in February and culminated a decline of 325 basis points in just four months.  South Korean growth has been brisk, with […] More

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