Archive for June 15th, 2011

Central Bank Watch

Central Bank of Iceland

June 15, 2011

Iceland’s central bank, Sedlabanki, left its interest rates unchanged including a 4.25% seven-day lending charge.  The statement posted today on the central bank’s web site is more hawkish than the prior one of April 20.  Gone is a sense of agnosticism about the direction of the next policy change.  If indeed the next move is […] More

Central Bank Watch

Chilean Monetary Policy

June 15, 2011

The Central Bank of Chile late Tuesday implemented the twelfth rate hike of the current tightening cycle but, as expected, cut the size of the move to 25 basis points from increases of 50 bps undertaken in March, April, and May.  The 5.25% new overnight rate level lies 475 basis points above the 0.5% cyclical […] More

Deeper Analysis

Total and Core U.S. Inflation

June 15, 2011

U.S. core consumer price inflation, which excludes food and energy, was still fairly tame at 1.5% in the year to May.  Such was more than double the low of 0.6% in the year to October 2010 but below the 1.8% rate of increase in the year to May 2009, which encompassed the severest part of […] More

New Overnight Developments Abroad - Daily Update

Greek Woes Depress Euro Against Dollar and Crosses

June 15, 2011

European Finance Ministers did not make progress finding a way to share the cost of a restructured Greek debt. Moody’s is reviewing the rating of three French banks that are vulnerable to such a restructuring. The dollar climbed 1.0% against the euro, 0.6% versus sterling, the kiwi, and Swiss franc, and 0.3% relative to the […] More

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