Archive for August 20th, 2008

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