Central Bank Watch
Colombian Benchmark Interest Rate Left at 4.0%
October 23, 2009
The Bank of the Republic of Colombia did not cut its key rate further. The decision matched consensus expectations. After two months of not reducing the rate in July and August, policymakers had surprised analysts with a 50-bp reduction in September. Cuts in all six months of 1H09 had cumulated to 500 basis points. Economic […] More
Foreign Exchange Insights and Next Week
Next Week
October 23, 2009
Investors may be treated to one or more central bank rate hikes next week. The Bank of Israel, which is one of two monetary authorities to start lifting rates, could implement a second 25-bp increase after pausing at its last meeting. The other chance for a rate hike is in Norway, where officials announced after […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: October 23rd
October 23, 2009
The dollar had a better week, gaining against the yen and Canadian dollar and closing with little change relative to sterling and a manageable loss against the euro. Wire services and the written press carried fewer dire warnings that the dollar may be heading for a rout, and foreign official complaints about the weak dollar […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Unexpected And Shocking British GDP Decline in 3Q
October 23, 2009
Sterling lost 1.2% (two cents) on news that real British GDP fell 0.4% (1.6% annualized) last quarter. Analysts had anticipated a 0.1% uptick. This was the sixth consecutive quarterly drop, and GDP was 5.2% lower than in 3Q08. Production fell 0.7% and 10.4% on year. Services dropped 0.2% and 3.8% on year. Construction tumbled 1.1% […] More
