Central Bank Watch
ECB Preview
July 5, 2011
Analysts are prepared for the ECB’s second interest rate hike of the cycle. It will be announced at 11:45 GMT on Thursday followed by a press conference to start at 12:30 GMT. Matters of most interest concern 1) the size of the increase, 2) the timing of the next increase that is implied in the […] More
Central Bank Watch
Sweden Gets a Seventh 25-Basis Point Central Bank Rate Hike
July 5, 2011
The Executive Board of the Swedish Riksbank, which meets six times annually, agreed on a seventh straight increase, and third so far in 2011, of its repo rate to 2.0%. The initial tightening was decided a year ago on June 30, 2010. The Board’s statement posted today on its web site asserts that Sweden’s economy […] More
Central Bank Watch
Australian Monetary Policy Still on Hold
July 5, 2011
The Monetary Policy Board at the Reserve Bank of Australia left the Official Cash Rate unchanged at 4.75%. There had been seven 25-basis point increases previously, the first six in October, November and December of 2009 and March, April and May of 2010 — but none since the seventh hike in November 2010. A new […] More
New Overnight Developments Abroad - Daily Update
Fresh Concerns Weaken Stocks and Lift Dollar Slightly
July 5, 2011
Moody’s is warning that Chinese banks may hold more problematic loans than generally realized. Service sector purchasing manager survey results show loss of momentum. Euroland suffers biggest month-to-month drop of index since February 2009. Euro are retail sales sank 1.1% in May, largest drop of 2011 so far. Reserve Bank of Australia keeps policy unchanged […] More
