Central Bank Watch
Hungarian Monetary Policy Pause Extended for Another Month
June 26, 2012
The Magyar Nemzeti Bank Base Rate was last changed in December, when a fifth increase was implemented. The rate level is now 7.0% versus above-target on-year CPI inflation of 5.3%. Inflation has been lifted by tax hikes made to reduce the budget deficit. Hungary also happens to be in recession. Real GDP plunged 5.1% at […] More
New Overnight Developments Abroad - Daily Update
Spanish Glue
June 26, 2012
Spain’s problems look increasingly sticky. Moody’s downgraded the rating of 28 Spanish banks, and Spanish T-bill auction results produced worse results on dampened expectations of a productive EU summit at the end of this week. The 2.36% yield on the 3-month paper sold by the government was 1.5 percentage points higher than at the May […] More
