Archive for March 24th, 2009

Central Bank Watch

Central Bank Rate of South Africa Cut By 100 Basis Points

March 24, 2009

The Reserve Bank of South Africa reduced its key interest rate to 9.5% from 10.5%, matching market expectations.  Along with two earlier reductions of 50 basis points announced December 11th and 100 bps on February 5th, rates have been cut by 250 basis points so far, and more relief will be forthcoming if economic growth […] More

Currency Markets in the News

Current Account Adjustments Well Under Way

March 24, 2009

The U.S. current account deficit narrowed to 3.7% of nominal GDP last calendar quarter from 5.0% of GDP in the first three quarters of 2008  and 5.3% of GDP in 2007.  Japan’s seasonally adjusted current account surplus amounted to 1.2% of GDP in the three months to January, down from 3.2% in 2008 and 4.8% […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar and Stocks Mixed

March 24, 2009

The dollar is down 1.5% against the Canadian dollar and 0.7% relative to sterling but shows strong gains of 1.3% against the yen, 1.1% versus the kiwi, 0.9% against the Australian dollar, and  0.8% against the euro.  The buck edged 0.2% higher against the Swissy. The yen hit lows 134.51 per euro and 98.56 per […] More