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
