Archive for April 29th, 2010

Central Bank Watch

Hong Kong Monetary Authority Retains Base Rate Level of 0.5%

April 29, 2010

Monetary policy in Hong is subordinated to enforcing a fixed HKD/USD peg via a currency board system wherein Hong Kong’s monetary base is fully backed by U.S. dollars.  The Hong Kong Monetary Authority always takes its cue from actions of the FOMC regarding the federal funds target.  When the latter changes, the HKMA generally announces […] More

New Overnight Developments Abroad - Daily Update

Slightly Softer Dollar and Yen

April 29, 2010

The dollar and yen declined 0.4% against the Canadian dollar, 0.2% against the kiwi, Aussie dollar, euro and sterling and by 0.1% relative to the Swiss franc. Japanese markets were shut for the first holiday of “Golden Week,” Day of the Showa.  They will be open Friday but closed next Monday through Wednesday. Asian equities […] More