Bank of England Minutes Suggest No Rate Change in September, Either
August 20, 2008
Faced with the twin shocks of higher energy prices and tightening credit conditions, the Bank Rate has remained at 5.0% since April, down from a peak of 5.75% before December. Both the July and August policy meetings ended with a 3-way split decision (seven voting for no rate change and one vote each for an […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Dollar Back in Forward Gear
August 20, 2008
After a brief correction Tuesday, the dollar has risen 0.7% against the Swiss franc, 0.6% versus sterling, 0.5% relative to the euro and 0.3% against the yen, Canadian dollar, Australian dollar and kiwi. One exception to this advance has been the yuan. China’s currency recorded its best gain in 3 weeks after U.S. Treasury Secretary […] More
