Larry's Blog
Fact Check: Has U.S. Employment and GDP Growth Been Abnormally Poor Under Obama?
October 23, 2012
The U.S. economy had experienced recession already for thirteen months when Barack Obama became the 44th U.S. president on January 20, 2009, and the rate of contraction was then in its most virulent stage at 8.9% in the final three months of 2008 and 5.2% in the first quarter of 2009. With such a self-feeding […] More
Central Bank Watch
Bank of Canada Policy Unchanged as Expected
October 23, 2012
Canada’s overnight money rate target has been at 1.0% since three 25-basis point increases were implemented in June, July, and September of 2010. A new statement released today Reaffirms that 25-month-long interest rate level. States that the slowdown of global activity has been roughly in line with what officials were expecting. Makes only marginal modifications […] More
Central Bank Watch
Sri Lankan Monetary Policy Not Changed
October 23, 2012
Officials at the Central Bank of Sri Lanka left their repo and reverse repo rates unchanged at 7.75% and 9.75%, respectively, after this month’s policy review. A new statement called the current stance tight, appropriate, and effective in slowing private credit expansion and containing inflation. On-year credit growth has slipped below 30% for the first […] More
New Overnight Developments Abroad - Daily Update
Stocks Falter in Europe
October 23, 2012
Share prices have dropped 0.9% in Germany, 0.8% in Britain, 0.6% in Italy and France and 0.5% in Spain. In the Pacific Rim earlier, equities declined by 1.3% in China, 0.8% in South Korea, 0.5% in Taiwan, 0.4% in India and 0.3% in Indonesia but rose 0.7% in Hong Kong, 0.4% in New Zealand and […] More
