Central Bank Watch
Unchanged Central Bank Rate in The Philippines as Expected
December 1, 2011
The Filipino Monetary Board left its overnight policy rate unchanged at 4.5%, which was what analysts had anticipated. Two hikes of 25 basis points were implemented in March and May of this year, and reserve requirements were raised in June and July. Those were the last policy changes of any sort, and now officials are […] More
Deeper Analysis
U.S. Enjoyed Greatest Manufacturing Advantage over Euro Area in 22 Months
December 1, 2011
In November, America’s manufacturing purchasing managers index rose 1.9 points to 52,7, while the Euroland counterpart weakened 0.7 points to 46.4. Values above 50 signify expanding activity, and those below that level imply a contraction. The U.S. index hasn’t printed below 50 since July 2009, the first month of the present business cycle expansion. Euroland’s […] More
New Overnight Developments Abroad - Daily Update
Sobering Perceptions After Yesterday’s Euphoria
December 1, 2011
Investors now see yesterday’s concerted central bank actions as the non-panacea that it was. ECB President Draghi called the move a “limited action” to ensure that monetary policy gets transmitted. He also reiterated the view that the main responsibility lies with governments in Europe that must move to a more unified single fiscal policy. The […] More
