Deeper Analysis
January 14, 2000: A Date to Remember
August 23, 2011
January 14, 2000 is a well-suited statistical benchmark for assessing the U.S. economy. If February 3, 1959 was the day the music died as immortalized in Don McLean’s ballad American Pie, calling January 14, 2000 the day the American economy died is only a slight overstatement because the before-and-after performances around that milestone are so […] More
Central Bank Watch
No Further Turkish Monetary Policy Changes for Now
August 23, 2011
At an interim unscheduled meeting on August 4, policy makers at the Central Bank of the Republic of Turkey sliced their benchmark one-week repo rate by 50 basis points to 5.75% and narrowed the corridor between their overnight lending and borrowing rates by raising the latter 350 bps to 5.0% but not changing the former’s […] More
Central Bank Watch
Pause Continued in Hungarian Monetary Policy
August 23, 2011
Officials at the Magyar Nemzeti Bank left the two-week deposit rate at 6.0% for another month. This decision was widely expected. The interest rate benchmark has been held at that level for the past seven months after three consecutive tightenings of 25 basis points each administered in the final two months of 2010 and January […] More
New Overnight Developments Abroad - Daily Update
Dollar Eased as Overnight Data Came in Mixed
August 23, 2011
The dollar lost 0.8% against the yen, 0.4% relative to the New Zealand and Canadian dollars, 0.3% versus the euro, and 0.2% against the Swissie and Aussie dollar. The U.S. currency is unchanged against the yuan and sterling. Stocks are mostly higher with gains of 3.9% in South Korea, 3.3% in Taiwan, 2.2% in Australia, […] More
