Archive for October 2nd, 2012

Central Bank Watch

Bank of England Preview

October 2, 2012

The primary tool of British monetary policy since March 2009 has been the Asset Purchase Program, which has been expanded periodically as needed and most recently by GBP 50 billion in July to a limit of GBP 375 billion.  That higher ceiling will not be reached for another month, so announcement of a policy expansion […] More

Central Bank Watch

A Surprise Easing at the Reserve Bank of Australia

October 2, 2012

The RBA’s Official Cash Rate has been sliced by another 25 basis points to 3.25%, its lowest level since October 2009 and just 25 bps above the Great Recession low.  Today’s was the first reduction since a 25-bp move in June.  Before then, The OCR was also cut by 50 bps in May, and by […] More

New Overnight Developments Abroad - Daily Update

Equity Rally Extended

October 2, 2012

Monday’s better market tone extended into Tuesday, fed by a surprise Australian Official Cash Rate cut and hopes of a Spanish bailout. Stocks rose 1.1% in New Zealand, 1.0% in Australia, 0.8% in the Philippines, 0.7% in Singapore, 0.6% in Taiwan, 0.5% in Indonesia, and 0.3% in India.  China remains closed for the entire week, […] More

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