Central Bank Watch
No Change Decreed in 4.75% Australian Cash Rate
December 7, 2010
The statement today from Glenn Stevens, Governor of the Reserve Bank of Australia, called the 4.75% benchmark interest rate “appropriate” and observed that the lending rates of financial institutions in Australia are now “a little above average.” The central bank has already engineered seven rate increases of 25 basis points each, the most recent being […] More
Central Bank Watch
Dovish Bank of Canada Statement
December 7, 2010
Policymakers at the Bank of Canada today as expected left their overnight money rate target at 1.0%, its level since September 8th. Today’s statement of explanation ends with the added sentence, “any further reduction in monetary policy stimulus would need to be carefully considered.” The note of enhanced caution comes after the following observations: GDP […] More
New Overnight Developments Abroad - Daily Update
Dollar Lower But Stocks and Bond Yields Higher after U.S. Tax Cut Extension Deal
December 7, 2010
President Obama announced a tentative deal with Republicans that would extend all Bush era tax cuts for two years and unemployment insurance benefits for 13 months. Congressional Democrats played little role in these negotiations. The dollar dropped 0.5% against the Aussie dollar, kiwi and sterling, 0.4% relative to the Canadian dollar, Swiss franc and euro […] More
