Archive for May 25th, 2010

Deeper Analysis

British and German Growth

May 25, 2010

Global financial markets have been unnerved by concern about the impact of the sovereign debt problems of several countries in Europe.  Governments failed to downsize their full-employment deficits when growth was expanding decently in the middle of the last decade, and fiscal deficits shot up as tax revenues plunged during the great recession.  Premiums that […] More

Central Bank Watch

Polish Monetary Policy Still on Hold

May 25, 2010

As expected, the Narodowy Bank’s key reference interest rate was kept at 3.5%, its level June 2009.  A 25-bp rate cut back then culminated a six-step easing from a prior cyclical high of 6.0%.  The first reduction, also by 25 basis points had been made in November 2008.  The Polish economy is projected to continue […] More

New Overnight Developments Abroad - Daily Update

Market Crisis Intensifies

May 25, 2010

Stocks plummeted overnight by 3.5% in Hong Kong, 3.7% in Indonesia, 3.1% in Japan and Thailand, 3.2% in Taiwan, 2.8% in South Korea, 2.7% in India, and 1.9% in New Zealand and Malaysia.  In Europe, the Spanish IBEX, Paris Cac, German Dax, and British Ftse are down by 4.1%, 3.8%, 3.0%, and 2.9%.  Futures point […] More