Central Bank Watch
People’s Bank of China Finally Cuts Interest Rates — Timing of First Cut Since December 2008 Is a Surprise
June 7, 2012
Monetary easing has intensified in China ahead of a 10-year shift of political leadership and amid mounting concern about the slowing economy. Forthcoming economic data are likely to showcase weakness. Beginning in November 2011 and most recently in April of this year, officials had three times reduced reserve requirement ratios by 50 basis points apiece, […] More
Central Bank Watch
Bank of England Still on Pause
June 7, 2012
The Monetary Policy Committee declined to change policy settings this month. The Bank Rate has been at 0.5% for the past 3 years and 3 months. The Asset Purchase Plan was last increased in February, a rise of GBP 50 billion to GBP 325 billion, and that limit was reached a month ago. Investors will […] More
New Overnight Developments Abroad - Daily Update
Hopeful Mood Persists
June 7, 2012
Share prices rose overnight in the Pacific Rim by 1.2% in Japan and India, 2.6% in South Korea, 1.3% in Australia, 0.9% in Hong Kong, 1.9% in Vietnam, and 1.1% in The Philippines. In European markets, equities have risen 1.0% in Spain, 0.7% in Britain, 0.6% in France and 0.5% in Germany. 10-year sovereign debt […] More
