Central Bank Watch
Peruvian Monetary Tightening Paused This Month at 4.25%
June 10, 2011
The Central Reserve Bank of Peru did not implement an eleventh rate hike since May 2010 today, fooling analysts. A statement today seized upon a drop of CPI inflation to 3.1% last month from 3.4% in April and 2.7% in March to justify the pause and also noted somewhat slower economic growth signaled by some […] More
Central Bank Watch
Bank of Korea Tightens Stance and Releases a Hawkish Statement
June 10, 2011
The Bank of Korea, whose Base Rate was slashed from 5.25% prior to August 2008 to 2.0% six months later, announced its fifth increase of 25 basis points today. The rate is now at 3.25%, representing a 38.5% reversal of the previous stimulus. Monetary officials had not raised rates at either of its prior two […] More
New Overnight Developments Abroad - Daily Update
More Weak Data
June 10, 2011
British industrial production plunged 1.7% on month in April and was 1.2% lower than a year earlier. Factory output dropped 1.5%. These monthly changes are much worse than anticipated. Industrial output in March had only risen 0.2%. British producer price inflation meanwhile slowed last month, further killing any chance of an early Bank of England […] More
