Archive for July 24th, 2012

Central Bank Watch

Latest Hungarian Monetary Policy Statement

July 24, 2012

By split decision, policymakers at Magyar Nemzeti Bank agreed to an unchanged Base Rate of 7.0% today.  A released statement projected negative GDP growth this year but also noted that CPI inflation of 5.6% in the twelve months to June exceeded their expectation.  Financial markets remain fragile, and Hungary is vulnerable to fallout from the […] More

New Overnight Developments Abroad - Daily Update

Europe Gets More Bad News

July 24, 2012

Flash purchasing manager estimates for Euroland in July were released, showing an unchanged composite score of 46.4, suggesting that GDP may contract by 0.6% in the third as well as second quarters of 2012. The Moody’s rating agency lowered rating outlooks on Germany, the Netherlands, and Luxembourg to negative, citing a greater risk that Greece […] More