Central Bank Watch
Norges Bank Rate Cut to 2.0% from 2.5%
March 25, 2009
Norway’s central bank as expected reduced its benchmark policy rate by 50 basis points and signaled the likelihood of more cuts in the second quarter, when the rate is expected to range between 1% and 2%. This was the fifth reduction of the easing cycle following drops of 50 basis points on February 4, 175 […] More
Central Bank Watch
National Bank of Poland Eases 25 Basis Points
March 25, 2009
Poland’s central bank cut rates for a fifth consecutive month, but the reference rate was reduced by only 25 basis points in light of zlotty weakness raising inflation. The reference rate now becomes 3.75%, 225 basis points less than peak. February’s cut was also by 25 bps following back-to-back reductions of 75 bps in December […] More
Larry's Blog
U.S. Dollar Policy
March 25, 2009
The Obama Administration’s policy on the dollar is getting curiouser and curiouser. At last night’s press conference, the president said, “I would just point out out that the dollar is extraordinarily strong right now. And the reason the dollar is strong right now is because investors consider the United States the strongest economy in the […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Obama Comments on Dollar
March 25, 2009
In response to a question about China’s call for a global currency at last night’s press conference, President Obama asserted, “I would just point out the dollar is extraordinarily strong right now” and said he saw no need for a global currency. The dollar lost 0.4% overnight against the yen and Swiss franc and 0.3% […] More
