Archive for October 26th, 2011

Central Bank Watch

2.5% New Zealand Official Cash Rate Held Steady for Fifth Time in a Row

October 26, 2011

As with decision-makers at other central banks, the uncertainty of the euro debt crisis remains the 500-pound gorilla in the room where New Zealand monetary authorities deliberate.  It has dampened world demand, lifted bank financing costs, and harmed business and consumer confidence.  Prudence at this juncture argued again for waiting and watching for better guidance. […] More

Deeper Analysis

Bank of Canada Quarterly Monetary Policy Report

October 26, 2011

The October Report contains more detailed information than was included in Tuesday’s statement following a decision to leave the Bank of Canada’s overnight target rate unchanged at 1.0%, its level since early September 2010.  Here are the most interesting revelations. Total and core CPI inflation, which in 3Q11 were 3.0% and 1.9% greater than a […] More

New Overnight Developments Abroad - Daily Update


October 26, 2011

Results from today’s summit in Brussels of Euroland leaders are not expected until very late.  The summit is seen as a do-or-die moment for the common currency.  Even if officials managed to agree to more than investors anticipate, cynicism remains high that things will still fall apart in the future. The dollar rose 1.1% against […] More