Central Bank Watch
No Turkish Rate Cut This Month But No Sign Either When Tightening Will Start
December 17, 2009
The Central Bank of the Republic of Turkey failed to cut its key rates for the first month since October 2008 and removed the “easing bias.” However, a statement by officials emphasized that it would be necessary to keep policy rates low for a long period of time.” The key borrowing and lending rates are […] More
Central Bank Watch
Key Hong Kong Interest Rate Kept at 0.5%
December 17, 2009
The Hong Kong Monetary Authority does not have an independent domestic monetary policy, only a 26-year-old policy to peg its exchange rate around 7.75 per U.S. dollar. The HKMA takes its marching orders from the Fed and, accordingly, left its key interest rate at 0.5% following news from the FOMC that the Fed funds rate […] More
New Overnight Developments Abroad - Daily Update
Dollar and Yen Sharply Higher
December 17, 2009
The dollar shows similar advances of 1.3% against the Australian dollar, 1.2% against sterling, the kiwi, and euro, and 1.0% relative to the Swiss franc and Canadian dollar. The greenback is only 0.1% firmer against the yen, however. Lots of short dollar positions getting stopped out. FOMC statement seen as mostly dollar-supportive. Senate Banking Committee […] More
