Currency Markets in the News
Recession: Is The End Really in Sight?
May 28, 2009
Given the failure of Japan, Canada, and Europe to decouple from the United States, the answer for most advanced economies rests with America. Emerging economies, on the other hand, are demonstrating greater independence from the U.S. business cycle. A view emerged this spring that a U.S. recovery will occur sooner than 2010 or even late […] More
Central Bank Watch
Philippine Central Bank Rates Cut 25 Basis Points As Expected
May 28, 2009
The key borrowing rate of Bangko Sentral ng Pilipinas was cut to 4.25% from 4.5% today. Such had earlier been reduced by 50 basis points each last December 18 and January 29 and by 25 bps on March 5 and April 16. The key lending rate also got reduced by 25 bps to 6.25%. Officials […] More
Central Bank Watch
Reserve Bank of South Africa Cuts Repo Rate to 7.5% from 8.5%
May 28, 2009
Analysts had been divided over whether South Africa’s central bank would ease by 50, 75, or 100 basis points. Officials chose the most aggressive action, cutting rates by a full percentage point for a fourth straight month. An initial cut of 50 basis points was implemented in December when CPI inflation exceeded 10% versus 8.5% […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Softer Yen
May 28, 2009
The dollar advanced 1.7% against the yen but weakened by 1.5% against the kiwi, 0.8% relative to the Australian dollar, 0.2% against the Canadian dollar, and 0.1% each against the euro and Swissy. The pound is 0.2% lower against the dollar. Markets were closed in China, Hong Kong and Taiwan. The Nikkei firmed 0.1% but […] More
