Archive for May 24th, 2012

Deeper Analysis

Worrisome German GDP Growth

May 24, 2012

Germany has been the bright jewel in a dismally performing continent.  But after data released today, the rest of Europe seems to be infecting Germany rather than having the German economic success lift other members to better times. German first-quarter GDP grew by a decent 2.1% at an annualized rate between the final quarter of […] More

Central Bank Watch

South African Reserve Bank: No Rate Change as Expected

May 24, 2012

The 5.5% repurchase rate since November 18, 2010 was left unchanged.  The key central bank interest rate had been cut during the world recession from 12.0% prior to December 2008 to 7.0% by August 2009 and three more times by 50 bps each during 2010.  In leaving monetary policy unchanged again today, the monetary policy […] More

New Overnight Developments Abroad - Daily Update

No Breakthrough at EU Summit on Greece

May 24, 2012

EU leaders in Brussels produced no fresh ideas on Greece.  Germany still is resisting euro bonds, yet uncertainty over the status of Greece and the risk of contagion is hurting Germany’s economy more discernibly. Stocks are higher in Europe, nonetheless.  The British Ftse, Paris Cac, and German Dax have so far rebounded by 1.2%, 1.0% […] More