Archive for April 26th, 2012

Central Bank Watch

Hong Kong Continues to Mime Fed Policy

April 26, 2012

The Hong Kong Monetary Authority retained a 0.5% base rate, one day after the FOMC kept a zero to 0.25% federal funds target.  The HKMA typically copies whatever the Fed does regarding the U.S. interest rate target with an announcement a day after the U.S. action.  The base rate enjoys a slight premium relative to […] More

New Overnight Developments Abroad - Daily Update

Evidence of Weakening Euro Area Sentiment and Disagreement on Means to Grow Europe

April 26, 2012

The boost to stocks from Fed Chairman Bernanke’s press conference didn’t last long. Investors have taken from Bernanke that further stimulus measures will only happen if U.S. growth or inflation falters anew. Euroland economic sentiment dropped 1.7 points to a reading of 92.8, matching last December’s score. ECB President Draghi and French presidential candidate front-runner […] More