Archive for February 7th, 2012

Central Bank Watch

Reserve Bank of Australia Didn’t Sanction a Third Interest Rate Cut

February 7, 2012

Most analysts had assumed a third Officials Cash Rate cut this month, and they were instead faked out.  In a statement from Governor Glenn Stevens, the present 4.25% official cash rate level (OCR) after back-to-back reductions in November and December was called "appropriate," but the door was left open to further easing down the road […] More

New Overnight Developments Abroad - Daily Update

Persistent Worry about Greece and Other Peripherals

February 7, 2012

Greek Prime Minister Papademos is to hold more meetings with the main political factions today, as a deal on austerity remains elusive.  Concern is also mounting that Portugal may default, too. Following massive yen sales on October 31 totaling JPY 8.072 trillion, Japan’s Ministry of Finance intervened covertly each of the first four days in […] More