Archive for November 5th, 2013

Central Bank Watch

Reserve Bank of Australia Expresses Greater Concern about the Aussie Dollar than Before

November 5, 2013

For some time, Australian monetary officials have asserted that the A-dollar is more elevated than economic fundamentals justify now that the terms of trade has peaked and the burst in investment-sector mining is winding down.  The central bank’s Board meets monthly (except in January) and just issued a more urgent call for depreciation.  The Board’s […] More

Central Bank Watch

National Bank of Romania Sanctions a Further Interest Rate Cut of 25 Basis Points

November 5, 2013

With today’s cut to 4.0%, Romania’s monetary policy interest rate has dropped in four steps by 125 basis points since midyear.  From a peak of 10.25%, previous reductions of 400 bps were implemented in 2009-10 and 100 bps between November 2011 and March 2012.  Analysts anticipated today’s development. In a statement released today, officials at […] More

New Overnight Developments Abroad - Daily Update

A Drop in Share Prices

November 5, 2013

Equities fell 1.3% in India, 0.7% in Hong Kong, 0.6% in South Korea, 0.4% in the Philippines, and 0.2% in Indonesia and Malaysia.  In Europe, Spain’s IBEX has slumped 1.3%, and stocks are 0.6-0.7% lower in Britain, Germany, France and Italy.  Not all markets dropped.  Japan’s Nikkei closed 0.2% firmer.  Stocks rose 0.8% in Australia, […] More

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