Archive for January 14th, 2009

Central Bank Watch

Bank of Thailand Eases Policy

January 14, 2009

On Friday, the Bank of Korea cut its key benchmark by 50 basis points to 2.5%. That rate is now down 275 basis points cumulatively from 5.25%.  Today’s spotlight belonged to another Asian central bank, as the Bank of Thailand followed up on a 100-bp reduction in early December by reducing its rate by 75 […] More

Currency Markets in the News

The Least The ECB Should Do

January 14, 2009

The ECB will announce a fourth consecutive monthly rate cut at 12:45 GMT tomorrow.  Market participants expect a reduction of 50 basis points but not more. Officials have been coy in their rhetoric, pointing out that 175 basis points of reduction in the last three months are already in the pipeline.  With the February meeting […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar Somewhat Lower

January 14, 2009

The dollar has dropped 1.4% against the volatile Australian dollar and has lost 0.4% against sterling and the Canadian dollar, 0.3% against the euro, and 0.2% relative to the Swiss franc. Dollar/yen edged 0.1% higher. European stocks tumbled further: Dax down 1.4%, Ftse off 1.7%, and Cac40 down 0.9%. In the Pacific Rim, the Nikkei […] More