Archive for March 23rd, 2010

Deeper Analysis

British Budget Preview

March 23, 2010

Chancellor Alistair Darling will deliver a pre-election budget on Wednesday starting at 12:30 GMT.  This will be a pre-budget budget, as parliamentary elections are seen likely on May 6 and mandatory by June.  Britain seems poised for a change of power, but the margin of victory could be too narrow to secure a majority for […] More

Central Bank Watch

A Ninth and Unexpected Interest Rate Cut in Serbia

March 23, 2010

The National Bank of Serbia implemented its first policy interest rate reduction of 2010.  The two-week repo rate cut to 9.0% from 9.5% had not been anticipated.  The rate had crested at 17.75% in the final quarter of 2008 but was cut eight times in 2009.  The timing and amount of those cuts were 125 […] More

New Overnight Developments Abroad - Daily Update

Dollar Up Slightly

March 23, 2010

On the day after the House approved healthcare reform, the dollar has risen 0.6% against sterling, 0.3% relative to the euro, 0.2% against the yen and Australian dollar and 0.1% against the Canadian, Swiss and New Zealand currencies. Chicago Fed President Evans implied at least six more months before the fed funds target is raised. […] More