Archive for June 10th, 2011

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

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