Archive for May 16th, 2011

Central Bank Watch

Hungarian Monetary Council Retains a 6.0% Base Rate

May 16, 2011

As they had done at prior meetings on February 21, March 28 and April 18, policymakers at the Nemzeti Magyar Bank left their benchmark interest rate at 6.0%.  The March and April decisions had been unanimous in spite of above-target inflation.  Following a 300-basis point rate hike in October 2008, the base rate was reduced […] More

New Overnight Developments Abroad - Daily Update

Equities Continued Their Retreat as New Week Begins

May 16, 2011

Stocks are down 1.4% in Germany and France and by 0.8% in Britain.  They fell 1.4% in Hong Kong, 1.3% in Australia, 1.1% in Taiwan, 1.0% in India, 0.9% in Japan, China and Indonesia, and 0.8% in South Korea. Oil prices dropped 1.8% to $97.88 per barrel, while gold is trading 0.2% softer and below […] More