Archive for May 19th, 2011

Central Bank Watch

Bank of Japan Preview

May 19, 2011

The Bank of Japan today and Tuesday held its fourth Policy Board meeting in the ten weeks since the devastating Sendai earthquake.  On March 14, officials raised their asset purchases by JPY 5 trillion (about $400 billion) to JPY 40 trillion.  On April 7, they broadened the range of eligible collateral for money market operations […] More

Deeper Analysis

Japanese, U.S. and Euro Area First-Quarter Growth

May 19, 2011

Japanese real GDP imploded 3.7% at an annualized rate last quarter, while U.S. real GDP advanced by 1.75%.  Real GDP in Japan was 1.0% lower than a year earlier and 5.6% below its pre-recession peak.  U.S. real GDP was 2.3% higher than in the first quarter of 2010 and 0.6% above the pre-recession level.  The […] More

New Overnight Developments Abroad - Daily Update

Now Official that Japan Relapsed into Recession

May 19, 2011

The dollar has risen 0.4% against the recession-laden yen but has otherwise lost 0.5% against the Canadian dollar, 0.4% relative to the euro, kiwi and Aussie dollar, and 0.2% against sterling.  The yuan is steady. Investors showed greater interest in reacquiring risk after Strauss-Kahn resigned as Managing Director of the IMF.  The dollar is up […] More