Archive for December 1st, 2011

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