Archive for August 24th, 2011

Central Bank Watch

Thailand Gets Ninth Central Bank Rate Hike

August 24, 2011

The Bank of Thailand raised the one-day bond repurchase rate to 3.5% from 3.25% as most analysts had predicted.  From a cyclical low of 1.2% prior to mid-2010, rate increases of the same magnitude were implemented in July, August, and December of 2010 and January, March, April, June, and July of this year. The written […] More

New Overnight Developments Abroad - Daily Update

German IFO and Moody’s Generate Troubling News

August 24, 2011

Moody’s downgraded Japan’s credit rating to Aa3 from Aa2, citing a big government deficit and rising debt/GDP ratio.  The news hurt Asian stocks. The IFO Institute reported a sharp drop and weaker-than-anticipated German business climate in August.  The overall index tumbled 4.2 points to 108.7, lowest since mid-2010.  The index had been at 114.4 just […] More