Larry's Blog
Surprises and Disappointments
June 27, 2011
Unexpected developments frequently are disappointing. Japan’s massive earthquake in March, which triggered a massive tsunami and serious nuclear facility accident, arguably top the lists of greatest disappointments and greatest surprises during the first half of 2011. Although Japan lies in geologically active region, it was not possible to know precisely where and when earthquakes will […] More
Central Bank Watch
Key Bank of Israel Interest Rate Not Changed
June 27, 2011
In leaving monetary policy unchanged for the coming month, a statement from the Bank of Israel made the following points: The key rate was raised from 2.0% to 3.25% between late January and late May. Despite a continuing high 4.1% rate of CPI on-year inflation in May, expected inflation has declined, and the underlying pace […] More
New Overnight Developments Abroad - Daily Update
New Concerns that Greek Lawmakers Might Not Approve New Austerity
June 27, 2011
Press reports in Greece that as many as four members of the ruling Socialist Party are have second thoughts about voting this week for the austerity plan sent the euro down as low as $1.4102, but such has recovered to 1.4213, up 0.2% on balance in nervous trading. Monday has a light slate of scheduled […] More
