Currency Markets in the News
Why Not Nationalize U.S. Banks?
February 12, 2009
This idea is gaining adherents. Today’s New York Times offers yet another editorial endorsing nationalisation, this time by column Nicholas Kristof. His perspective is based on his experience as Tokyo bureau chief for the Times during much of Japan’s lost decade. Japan’s precedent seems a good one for the United States, because its economy is […] More
Currency Markets in the News
Chronology of G-7 Meetings Since the 9-11 Attacks
February 12, 2009
G-7 finance ministers and central bankers fittingly meet in Rome for two days starting on Friday the 13th under the direst economic conditions since the mid-1980’s when the current arrangement of three annual meetings to coordinate policy and share information and thinking. This is the first meeting of 2009 and the first gathering to include […] More
Central Bank Watch
South Korean Base Rate Cut 50 Basis Points to Record Low
February 12, 2009
The Bank of Korea lowered its base rate for the sixth time since October 9th to 2.0%. There was a similar-sized cut on January 9th, reductions of 25 bps each on November 11th and October 9th, one of 75 bps on October 27th and another of 100 bps on December 11th. Altogether, rate cuts have […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Stocks Hit; Yen, Dollar and Bonds Higher
February 12, 2009
Another wave of risk aversion triggered by continuing doubts over the U.S. bank bailout sent stocks lower in Asia and Europe. The Nikkei fell 3.0%. Equities also lost 2.3% in Hong Kong, 2.2% in Singapore, 1.6% in India, and 1.2% in Australia. The Dax, Cac40, and Ftse are trading lower by 2.2%, 1.9% and 1.4%. […] More
