Central Bank Watch
ECB Preview
January 13, 2010
The 22-person ECB Governing Council’s announcement at 12:45 GMT Thursday and subsequent press conference in Frankfurt will not reveal more information than provided at the more important December meeting, the final one of 2009. By consensus, not a unanimous vote, policymakers in December decided not to undertake a fourth 12-month refi operation and to index […] More
Central Bank Watch
No Change in Thailand’s 1.25% Central Bank Rate
January 13, 2010
The Bank of Thailand released a somewhat less dovish statement but retained a 1.25% cyclically low key interest rate as had been anticipated. The 1.25% level was reached after four cuts of descending magnitude and totaling 250 basis points: 100 bps in December 2008, 75 bps in January 2009, 50 bps in February and 25 […] More
New Overnight Developments Abroad - Daily Update
Risk Aversion Up as Chinese Central Bank Lifts Reserve Requirements
January 13, 2010
The People’s Bank of China raised reserve requirements by a half-percentage point to 16% for large banks and 14% for smaller ones. The backdrop for today’s sooner-than-anticipated onset of tightening was soaring bank lending, which increased 9.2 trillion yuan in January-November of 2009 ($1.35 trillion) and the fear of an asset bubble and higher general […] More
