Archive for June 30th, 2009

British Growth

June 30, 2009

Guarded optimism has emerged that Britain may be one of the first economies to emerge from recession.  The operative word ought to be guarded, not optimism. First some facts.  Real GDP plunged 9.3% at a seasonally adjusted annual rate (saar) in the first quarter (most in almost 51 years), 4.9% in the year to 1Q09 […] More

Central Bank Watch

National Bank of Romania Cuts Policy Rate By 50 Basis Points

June 30, 2009

In an easing move anticipated by many analysts, Romania’s central bank policy rate was reduced to 9.0% from 9.50%.  Such was the second cut of 50 basis points this month but only the third drop of the cycle.  The earlier cut in June was announced on the 5th, and a reduction of 25 basis points […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Lots of Data on Final Day of the Quarter

June 30, 2009

The dollar shows overnight declines of 0.6% against the Aussie dollar, 0.4% versus the Swiss franc, 0.3% against the euro and Swissy, and 0.2% against sterling and the yen.  The buck has edged 0.1% lower against the kiwi. Asian stocks are mixed.  While the Nikkei climbed 1.8%, stocks are down 2.6% in Vietnam, 2.0% in […] More