Central Bank Watch
But Bank of Canada Target Interest Rate Left Unchanged
December 6, 2011
Canada shares some similarities with Australia. Both are commodity-intensive advanced economies. The Canadian and Australian dollars are each historically high, points made in today’s respective statements from those country’s central banks. Headline inflation exceeds target in both nations but is projected to fall in the future. As noted, the Reserve Bank of Australia unwound the […] More
Central Bank Watch
Australian Official Cash Rate Sliced to 4.25%
December 6, 2011
The OCR was cut by 25 basis points for the second consecutive month. Fifty of a total 175 bps of tightening between October 2009 and November 2010 have now been reversed. A statement from Governor Glenn Stevens asserts that the “inflation outlook afforded scope for a modest reduction in the cash rate. The Board will […] More
New Overnight Developments Abroad - Daily Update
S&P Lobs Bombshell into European Debt Talks
December 6, 2011
Standard and Poor’s placed Germany, France, Italy, Luxembourg, Belgium, Ireland, Portugal, Spain, Slovakia, Slovenia, Malta, Finland, The Netherlands, Austria, and Estonia on negative watch for a possible credit rating downgrade within 90 days. Among participating EMU members, only Greece and Cyprus, the former already sitting at rock bottom and the other reviewed recently, were exempt […] More
