Archive for September 11th, 2013

Central Bank Watch

Reserve Bank of New Zealand: Different Messages for 2013 and 2014

September 11, 2013

After the latest monetary policy meeting, a statement was released that reiterated that the Official Cash Rate would stay at 2.5 for the remainder of this year; it has been at that level since late April 2009 except during a 9-month span between June 2010 and March 2011.  A 50-bp cut in March 2011 was […] More

Larry's Blog

Greed, Anger, and Unhappiness

September 11, 2013

In Oliver Stone’s 1987 movie Wall Street, Gordon Kekko famously proclaims that “Greed is good.”  Greed is the emotion behind the desire to maximize profit, income and wealth, and the maximization of such things lies at the core of a capitalist price system for allocating and distributing products, services, and returns to factors of production.  […] More

New Overnight Developments Abroad - Daily Update

Comparatively Quiet Markets

September 11, 2013

In the wake of President Obama’s address on Syria, the dollar is unchanged against the Swissie, kiwi and yuan, up 0.1% versus the euro and Australian dollar, and down 0.2% relative to sterling and the loonie and by 0.1% against the yen.  Sterling touched an intra-day high of $1.5827, a 7-month peak. The Nikkei did […] More