Archive for May 27th, 2009

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