Archive for June 20th, 2011

Larry's Blog

Where Did the Advanced Economies Go Wrong?

June 20, 2011

According to IMF data, real GDP in the advanced industrialized economies expanded only 1.6% per annum during the eight years to 2010.  That was less than 60% as quick as the pace of expansion during the prior ten year to and including 2002 when GDP increased 2.8% per annum. It’s much easier to identify this […] More

Central Bank Watch

Hungarian Central Bank Base Rate Held at 6.0%

June 20, 2011

For a fifth straight month, officials at the Magyar Nemzeti Bank left their Base Rate at 6.0%.  Three prior increases of 25 basis points were implemented last November, December and January.  The rate was reduced previous to that some fourteen times from a cyclical peak of 11.5% to a low of 5.25% between November 2008 […] More

New Overnight Developments Abroad - Daily Update

Aid Tranche to Greece Still Not Approved

June 20, 2011

The meeting in Luxembourg of EU finance ministers postponed paying Greece EUR 12 billion, the next part of the EUR 110 billion package.  They’ll try again in July but insist that Greek politicians must first legislate more austerity.  Prime Minister Papandreou faces a confidence vote this week. All things considered, the euro’s overnight losses were […] More