Archive for September 5th, 2011

Central Bank Watch

No Change Made This Month in Australian Official Cash Rate

September 5, 2011

Australian monetary policy was left unchanged as expected, and a more dovish statement was released than after the August Policy Board meeting.  The statement leads off with a discussion of “very unsettled” global financial conditions and reduced growth expectations in the advanced economies.  For Australia, too, “the near-term growth outlook continues to look somewhat weaker […] More

New Overnight Developments Abroad - Daily Update

Panic-Stricken Markets Greet Labor Day 2011

September 5, 2011

U.S. markets are closed for Labor Day, but elsewhere the mood is grim. Ten-year sovereign debt yields tumbled 15 basis points in Britain, 14 bps in Germany and five bps in Japan. Gold catapulted above $1900, gaining 1.3% to $1902.10 per ounce.  Oil slumped 2.7% to $84.08 per ounce. Share prices have plunged 5.6% in […] More