Central Bank Watch
Bank of Canada Quarterly Policy Report: Highlights and Inferences
July 22, 2010
After two 25-basis point hikes of the Bank of Canada overnight interest rate target, such stands currently at 0.75%, a level that still represents considerable stimulus. One infers from tables in the new Monetary Policy Report that all remaining stimulus will be removed no later than the end of next year at which the stance […] More
Central Bank Watch
South African Repurchase Rate Kept at 6.5%
July 22, 2010
The unchanged monetary policy setting announced by the South African Reserve Bank was the result expected by a majority of analysts and matched the outcome of the prior policy meeting in May. Inflation risks are considered balanced. Cost-push upward forces from high recent wage awards and elevated administered prices counter-balance downside demand-pull pressures associated with […] More
New Overnight Developments Abroad - Daily Update
Some Robust European Data Sends Stocks Up and Dollar Down
July 22, 2010
The dollar lost 1.3% against the Australian dollar, 1.2% versus the kiwi, 1.0% relative to the Swiss franc, 0.9% against the euro, 0.8% vis-a-vis the Canadian dollar and sterling and 0.3% against the yen. Following Fed Chairman Bernanke’s somber testimony yesterday, stocks were mixed in the Pacific Basin, with looses of 0.9% in Australia, 0.8% […] More
