Central Bank Watch
Bank of Canada Preview
October 19, 2009
The Bank of Canada’s overnight rate target hit a rock-bottom level of 0.25% in April, and officials then announced a commitment to hold the policy rate at that level until at least mid-2010. Tomorrow’s statement will reiterate that pledge not to tighten before mid-2010 even though officials have said it has become apparent that Canadian […] More
Central Bank Watch
Another 50-Basis Point Rate Reduction in Hungary
October 19, 2009
The Magyar Nemzeti Bank reduced Hungary’s Base Rate by 50 basis points to 7.0%, matching analyst expectations. Four cuts since July 27 total 250 basis points. There was also a 50-bp reduction in January, two cuts of 50 bps each in December and one of 50 bps in November. What a difference a year makes! […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Commodities and Equities Higher, Bond Prices and Dollar Lower
October 19, 2009
The dollar has lost 0.9% against the kiwi, 0.7% relative to the Australian dollar, 0.4% against the Swiss franc, 0.3% versus the Canadian dollar and 0.2% against the yen and euro. The greenback is 0.3% stronger against sterling. Speculation persists that Beijing may soon let the yuan rise again. A story in Barrons urges the […] More
