Archive for November 9th, 2011

Central Bank Watch

Unchanged Polish Monetary Policy

November 9, 2011

Officials at the Narodowy Bank decided to leave their seven-day reference interest rate at 4.5% as they had decided at the previous three policy meetings and as analysts were anticipating.  Four increases of 25 basis points each were undertaken in the first half of 2011, snapping a 19-month pause at 3.5%.  In the Great Recession, […] More

New Overnight Developments Abroad - Daily Update

Another Ugly Day in the Marketplace Thanks to Europe

November 9, 2011

The embattled Italian Prime Minister Berlusconi agreed to resign once budget cuts and economic reforms are approved by parliament.  Nevertheless, Italian sovereign debt yields are sharply higher.  The five-year advanced to a crippling 7.14%, and the 10-year spread versus German bunds widened to as much as 536 basis points.  Italian elections are likely in February, […] More