Deeper Analysis
New Labour’s Legacy
May 12, 2010
Over the thirteen years that the Labour Party governed Britain, real GDP rose some 2.0% per annum, but that pace improves to 2.9% per annum if one only counts the first 11 years and excludes last year’s decline of 4.9% and a rise of merely 0.5% in 2008. Consumer price inflation averaged roughly 1.75% per […] More
Deeper Analysis
Canadian and U.S. Trade Balances Weakened in March on Energy
May 12, 2010
Because the United States and Canada do so much trade with one another, their trade balances often move in opposite directions. That did not happen in March, however. The U.S. goods and services deficit widened 2.5% to $40.4 billion, and the merchandise trade shortfall climbed 3.5% to $52.9 billion. Canada’s trade surplus plunged 78.0% to […] More
Central Bank Watch
Bank of Korea Base Rate Kept at 2.0%
May 12, 2010
The Bank of Korea holds monthly interest rate policy meetings and made no change in the 2.0% base rate for a fifteenth straight time. Three successive cuts of 100 basis points, 175 bps and 50 bps were made earlier in August 2008, December 2008 and February 2009. South Korea is now experiencing a typically Asian […] More
New Overnight Developments Abroad - Daily Update
Gold in Demand
May 12, 2010
Most markets have settled down. The dollar rose 0.3% against sterling and the yen, shows no change relative to the euro and Aussie dollar, and has slid 0.5% against the Canadian dollar, 0.2% against the Swiss franc, and 0.1% relative to the kiwi. Equities recovered 1.2% in Indonesia, 0.8% in Singapore, 0.6% in China and […] More
