Archive for August 30th, 2012

Central Bank Watch

Brazilian Rate Cut Yesterday Perhaps the Last of Nine

August 30, 2012

A ninth Selic rate reduction of the cycle was implemented on Wednesday but accompanied with a statement that suggests it may be the final one.  The Selic rate drops to a record low of 7.5% versus 12.5% that prevailed in August 2011.  Seven of the cuts during the past year were by 50 basis points.  […] More

New Overnight Developments Abroad - Daily Update

Spanish Delay

August 30, 2012

Following talks in Madrid between the leaders of Spain and France, Spain’s Prime Minister announced another delay in whether it would seek a bailout.  This news added to some weak data to depress share prices and commodities, but currency movements have been limited. The dollar has risen 0.3% against the Aussie and Canadian dollars, 0.2% […] More