Central Bank Watch
Turkish Central Bank Rates Cut 50 Basis Points
October 15, 2009
The Central Bank of the Republic of Turkey cut its overnight borrowing rate and overnight lending rate by 50 basis points each to 6.75% and 9.75%, respectively, as analysts had anticipated. No central bank in the G-20 has reduced rates as much as Turkey’s. One year ago, the benchmark rates were 1000 basis points higher […] More
Larry's Blog
Inflation and Foreign Exchange Movements
October 15, 2009
The effects of the weaker dollar were apparent in yesterday’s release of U.S. import prices, showing the core non-fuel component jumping 0.6% in September — the most since July 2008 — on top of a 0.3% increase in August. Today’s CPI data produced marginally higher monthly increases than forecast for total consumer prices and the […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Sharp Upturn in Sterling
October 15, 2009
The pound leaped 1.8% against the dollar and euro as the FT reported a top Bank of England official, Fisher, claiming that the asset purchase program may be paused in November. Fisher reportedly cited better confidence and higher equity prices as evidence of coming recovery. 10-year gilts rose 4 bps to 3.54%. The dollar also […] More
