Larry's Blog
The Fall And Stabilization of Exports: Fact or Fancy
May 27, 2009
At the height of the global recession, seasonally adjusted merchandise exports fell between October and January at annualized rates of 77.0% in Japan, 61.9% in the United States, and 60.4% in Germany. Over the prior three months to October 2008, exports had tumbled 43.4% annualized in United States and by 40.1% in Japan, but they […] More
Central Bank Watch
National Bank of Poland Cuts Reserve Requirements
May 27, 2009
Polish monetary officials left their key interest rate at 3.75% as was expected but took a different easing step of reducing reserve requirements from 3.5% to 3.0%. Interest rates also were left unchanged at April’s policy meeting. Earlier cuts of 25 basis points each were announced last November 26, February 25 and March 25 and […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Sterling Above $1.6000
May 27, 2009
The dollar fell 0.6% against the pound to $1.6029, the first time since November that sterling has traded above $1.60. The Chinese yuan softened to its weakest level since April 14 ahead of Geithner’s visit to China. The dollar also lost 0.5% to an 8-month low against the Canadian dollar, which has been buoyed by […] More
