Archive for September 26th, 2011

Central Bank Watch

Turning Point in Israeli Monetary Policy

September 26, 2011

The Bank of Israel surprised analysts with its first announced benchmark interest rate cut since March 2009.  In eight steps during the Great Recession, the key Israeli rate was slashed by 375 basis points from a prior cyclical high of 4.25%.  Israel was also aggressive in tightening subsequently.  A hike from 0.5% to 0.75% on […] More

New Overnight Developments Abroad - Daily Update

Greek Debt Crisis Drags on into a New Week

September 26, 2011

Weekend talks around the IMF/World Bank meetings in Washington failed to produce any dramatic action to stop Europe’s debt crisis.  German Chancellor Merkel said a Greek default is possible.  Investors speculating that such would cut that nation’s debt in half. Stocks slumped in the Pacific Rim but rose so far in Europe.  Share prices dropped […] More