Archive for June 24th, 2013

Central Bank Watch

Bank of Israel Holds Policy Rate Steady after Making Two Cuts in May

June 24, 2013

A decision to not cut Israel’s central bank interest rate more further was anticipated by a majority but not all analysts.  The Bank of Israel had implemented two 25-basis point cuts in May and eight cuts since September 2011.  At 1.25%, the key rate is back to its end-2009 level. Rising U.S. bond yields may […] More

New Overnight Developments Abroad - Daily Update

Festering Concerns about a Chinese Credit Crunch, European Banks, and Fed Tapering

June 24, 2013

Another steep drop in Asian and European share prices opened the final week before mid-2013. Equities plunged 6.1% in China, 3.4% in the Philippines, 2.2% in Hong Kong, 1.9% in Indonesia, 1.6% in Singapore, 1.5% in Australia, 1.3% in Japan, South Korea and India, and 1.0% in Malaysia. Stocks are down so far by 1.1% […] More