Deeper Analysis
British and German Growth
May 25, 2010
Global financial markets have been unnerved by concern about the impact of the sovereign debt problems of several countries in Europe. Governments failed to downsize their full-employment deficits when growth was expanding decently in the middle of the last decade, and fiscal deficits shot up as tax revenues plunged during the great recession. Premiums that […] More
Central Bank Watch
Polish Monetary Policy Still on Hold
May 25, 2010
As expected, the Narodowy Bank’s key reference interest rate was kept at 3.5%, its level June 2009. A 25-bp rate cut back then culminated a six-step easing from a prior cyclical high of 6.0%. The first reduction, also by 25 basis points had been made in November 2008. The Polish economy is projected to continue […] More
New Overnight Developments Abroad - Daily Update
Market Crisis Intensifies
May 25, 2010
Stocks plummeted overnight by 3.5% in Hong Kong, 3.7% in Indonesia, 3.1% in Japan and Thailand, 3.2% in Taiwan, 2.8% in South Korea, 2.7% in India, and 1.9% in New Zealand and Malaysia. In Europe, the Spanish IBEX, Paris Cac, German Dax, and British Ftse are down by 4.1%, 3.8%, 3.0%, and 2.9%. Futures point […] More
