Central Bank Watch
Taiwan’s Rate Hike
June 24, 2010
Taiwan became Asia’s sixth country to endure a rate increase. The 12.5 basis point increase in the discount rate to 1.375% reverses the final of seven reductions engineered between September 26, 2008 to February 18, 2009. Those easings had totaled 237.5 basis points and left the discount rate at a 55-year low. Quantitative easing had […] More
Central Bank Watch
Hong Kong Monetary Authority Again Mimes Fed
June 24, 2010
Hong Kong’s key interest rate has been left at 0.5%. Monetary authorities in the former British colony move in lock-step with what the FOMC does. For background on the policy of the HKMA, please read this April 29th article from Currency Thoughts. Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission. More
New Overnight Developments Abroad - Daily Update
Risk Aversion Reigns as Investors Stay on Edge
June 24, 2010
Australian Prime Minister Rudd resigned. His popularity had melted after proposing a draconian tax on mining activity. Australian markets celebrated only briefly because the government remains in the Labour Party’s hands. Former Deputy PM Gillard becomes Australia’s first woman prime minister. The Fed’s statement yesterday acknowledged heightened external uncertainties. News from Iran provided another source […] More
