Archive for May 11th, 2011

Central Bank Watch

Third Monetary Policy Tightening of 2011 in Poland

May 11, 2011

The reference rate of the Narodowy Bank is being raised to 4.25% from 4.0%.  The interval since the prior hike of 25 basis points on April 5 was smaller than that between the first move on January 19 and the second increase.  These are the only increases so far in this tightening cycle, and it […] More

Deeper Analysis

U.S. and Canadian March Trade Highlights

May 11, 2011

A USD 48.2 billion goods and services trade deficit in March was 6.0% wider than the February deficit, and the first-quarter U.S. shortfall was USD 26.7 trillion or 23.5% greater than the deficit in the first quarter of 2010.  In first quarter-over-first quarter comparisons, U.S. exports climbed 14.9%, while imports went up 16.7%.  Net exports […] More

New Overnight Developments Abroad - Daily Update

Sterling Lifted by Bank of England Inflation Report

May 11, 2011

The pound gained 0.7% against the dollar and 0.9% versus the euro.  The catalyst for the advance was a quarterly central bank report that sees a likelihood of on-year British inflation topping 5.0% later in 2011.  Inflation will probably stay above its 2.0% target until the first quarter of 2013, and the report implies a […] More