Archive for May 16th, 2012

Central Bank Watch

Iceland’s Interest Rate Hike

May 16, 2012

Many analysts were surprised by today’s announced increase of the Bank of Iceland’s 7-day collateralized rate to 5.5%.  The three prior increases on March 21, November 2, and August 17, 2011 were by 25 basis points, and the escalating euro debt crisis dissuaded some from expecting any Icelandic move now. A statement on the Sedlabanki […] More

New Overnight Developments Abroad - Daily Update

Pacific Rim Share Prices Clobbered on Escalating Greek Crisis

May 16, 2012

Equities fell 3.2% in Hong Kong, 3.1% in South Korea, 2.4% in Australia, 2.2% in Taiwan, 1.8% in India, 1.6% in Singapore, Indonesia and China, and 1.1% in Japan.   The British Ftse and German Dax have lost 0.7% and 0.6%, but the Paris Cac is 0.7% firmer. Sterling reacted poorly to the Bank of England […] More