Archive for January 7th, 2009

Bank of England to Cut By More Than Market Consensus

January 7, 2009

The Bank of England began a two-day interest rate policy meeting today.  The market consensus is looking for a cut of 50 basis points to 1.5%. I expect a bigger decline to be announced at 12:00 GMT tomorrow. Here’s why. The central bank got a late start. The central bank rate was 5.0% as recently […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Rate Cuts in Taiwan and Indonesia

January 7, 2009

Yesterday’s dollar gains against the euro and Swissy have been trimmed. The greenback lost 1.3% against the Swiss franc, 0.8% against the euro, 0.5% relative to the yen and 0.2% against the Canadian dollar. The buck is unchanged against sterling and up 0.4% and 0.3% against the Australian and New Zealand dollars. Asian stocks are […] More