Central Bank Watch
Central Bank of Iceland Tightens
March 21, 2012
Monetary officials at Sedlabanki tightened the 7-day collateralized lending rate for a third time in seven months. The benchmark was also raised last August and November and now stands at 5.0%. From March 2009 through February 2011, fifteen easings occurred, totaling 1,375 basis points. The prior meeting in early February left policy unchanged but warned […] More
Central Bank Watch
Bank of Thailand: Declines to Cut Interest Rate a Third Time
March 21, 2012
Thailand GDP was hit by devastating floods late in 2011, which prompted the central bank policymakers to cut their benchmark interest rate by 25 basis points at the prior two meetings on November 20 and January 25. The rate stands at 3.0% after today’s decision not to enact a third cut. Previously, there were nine […] More
New Overnight Developments Abroad - Daily Update
Several Events to Watch Today
March 21, 2012
British Chancellor of the Exchequer George Osborne delivers a 2012-13 budget today that will press onward with substantial austerity yet manage to offer some tax reductions. At stake is whether the economy can retain its top AAA credit rating. Fed Chairman Bernanke testifies in Congress on Europe. The gist of his remarks surfaced earlier. He […] More
