Archive for July 28th, 2011

Central Bank Watch

Philippines’ Reserve Ratios Tightened

July 28, 2011

Bankgo Sentral Ng Pilipinas will raise reserve requirements by a whole percentage point effective August 5.  This decision was not expected and matches one at the June 16 policy meeting and implemented on June 24.  Interest rates were not changed at this time.  Previously, the Filipino official borrowing and lending rates, that is the reverse […] More

New Overnight Developments Abroad - Daily Update

Stocks Down Sharply in Asia and Europe

July 28, 2011

Persistent debt concerns in the U.S. and Europe continue to depress the euro and share prices.  Peripheral bond yield spread widened. Equities fell by 1.5% in Japan and Pakistan, 1.6% in Australia, 1.2% in India, 0.9% in South Korea, 0.7% in Indonesia and 0.6% in Taiwan and China. The German Dax and Paris Cac are […] More