Central Bank Watch
Peru
September 13, 2011
On September 9, the Central Reserve Bank of Peru left its reference rate unchanged at 4.25% as had been done at previous meetings in June, July and August. However, a new statement on the Bank’s web site and prior remarks by the BCRP governor have prepared analysts to expect easing moves, a rate cut or […] More
Central Bank Watch
Brazil
September 13, 2011
On August 31, the Central Bank of Brazil become the first to cut its key rate after extensive post-recession tightening. COPOM, the bank’s policymaking authority, had slashed its key Selic Rate five times by a total of 500 basis points in the six months between January 2009 and July 2009. But in eight steps beginning […] More
New Overnight Developments Abroad - Daily Update
A Disappointing Italian Debt Auction
September 13, 2011
Worry about euro area sovereign debt got new impetus after Italy’s five-year auction fetched a yield of 5.6%, up from 4.93% in the prior tender and the highest since at least 1999. Italian and Chinese officials have reportedly been in talks about China maybe increasing its buying of Italian debt, but the auction did not […] More
