Archive for October 4th, 2011

Central Bank Watch

Bank of England Preview

October 4, 2011

The Bank of England’s Monetary Policy Committee will reveal this month’s policy settings at 11:00 GMT on Thursday.  In September, the vote to retain a 0.5% Bank Rate was unanimous (9-0) for the first time in a year, and Adam Posen continued to dissent unilaterally in favor of resuming quantitative easing.  Analysts have increasingly framed […] More

Central Bank Watch

Bernanke

October 4, 2011

In testifying today before the Joint Economic Committee, the Fed Chairman made predictable remarks, indicating that the central bank has not exhausted possible steps to support the U.S. economy but stressing that fiscal policy and other actions for which the Congress is responsible are more appropriate and effective avenues to be pursued.  Nor was the […] More

Central Bank Watch

Reserve Bank of Australia Flags New Risk of a Rate Reduction

October 4, 2011

The Reserve Bank of Australia’s Policy Board meets monthly except in January.  Policy had a tightening bias since the autumn of 2009.  After the September 6th meeting this year, officials had reaffirmed that “growth is still likely to be at trend or higher” and reminded investors that “the Board remains concerned about the medium-term outlook […] More

New Overnight Developments Abroad - Daily Update

Eurogroup Decision Delayed on Aid to Greece

October 4, 2011

A Eurogroup meeting scheduled for October 13 was postponed that would have approved the next EUR 8 billion loan tranche to Greece.  Reaction to Greek budget overrun revelations have been understandably poor.  More austerity from Athens is urged.  A decision on aid is not expected for about six weeks. After leaving the Official Cash Rate […] More

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