Archive for April 26th, 2010

Central Bank Watch

Bank of Israel: No Policy Change This Month

April 26, 2010

Contrary to the view of some analysts, the Bank of Israel’s short-term borrowing rate was not raised today by a further 25 basis points but rather left steady at 1.50%.  Only Australia’s five rate increases surpass Israel’s four.  Those increases, like Australia’s, were all by 25 basis points and were implemented last August, November, December […] More

Deeper Analysis

A Benign Market Environment for Economic Recovery

April 26, 2010

Yes, you read my headline correctly.  This certainly has not been true about Greece, and financial markets in other peripheral members of the common currency bloc are at risk.  But the statement does fit the situations pretty well for key advanced economies such as the United States, Germany, Britain, and Japan. At noontime in New […] More

Central Bank Watch

Another 25-Basis Point Hungarian Central Bank Rate Reduction

April 26, 2010

The Magyar Nemzeti Bank implemented the 14th cut of its base rate since November 2008 and tenth since July 2009.  The decrease of 25 basis points to 5.25%matched expectations and was the fifth consecutive monthly drop of that size.  Hungarian CPI inflation has been rising with an on-year increase in March of 5.9% after 5.7% […] More

New Overnight Developments Abroad - Daily Update

G-20 Statement a Dud… Greek Concerns Persisting

April 26, 2010

The dollar is mixed, with gains of 0.3% against the euro, Swissy, and yen but losses of 0.5% against the kiwi, 0.4% against sterling, 0.3% against the Australian dollar and 0.1% against the Canadian dollar.  Greek unions continue to protest reforms, and German rhetorical foot-dragging on aid to Greece also persists. Stocks jumped 2.3% in […] More

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