Archive for November 29th, 2010

Central Bank Watch

Hungary Gets its First Rate Hike of the Cycle

November 29, 2010

The base rate of the Magyar Nemzeti Bank was raised to 5.5% from 5.25% in a move that caught most analysts by surprise.  Other East European central bank rates such as Poland’s 3.5%, Romania’s 6.25%, and the Czech Republic’s 0.75% remain at their cyclical lows.  From November 2008 through April 2010, the base rate in […] More

New Overnight Developments Abroad - Daily Update

Euro Weaker Despite Aid Agreement for Ireland

November 29, 2010

The euro is 0.5% weaker than Friday’s close at $1.3173, which is also marginally softer than last week’s low. An EUR 85 billion aid package was reached with Ireland.  The composition of the bailout is EUR 45 billion from EU governments, 22.5 billion from the IMF, and the rest (20.6% of the total) from Ireland […] More