Archive for June 28th, 2012

Deeper Analysis

Today’s North American Economic Data

June 28, 2012

The 1.9% annualized increased of U.S. real GDP in the first quarter was unrevised from the prior estimate.  Personal consumption growth of 2.5% accounted for 93% of GDP’s rise during the quarter.  Private investment, net foreign demand, and inventories supported growth modestly but were collectively neutralized by a 4.0% annualized drop in public-sector spending that […] More

Central Bank Watch

First Czech Rate Cut in 25 Months

June 28, 2012

By a narrow 4-3 split vote, the Policy Board of the Czech National Bank voted to cut the two-week repo rate to 0.50% from 0.75% and the Czech Lombard Rate to 1.50% from 1.75%.  The decision was expected.  A released statement expects consumer price inflation to remain above the 1-3% target range until next year […] More

New Overnight Developments Abroad - Daily Update

Summit Time and the Living Ain’t Easy

June 28, 2012

Another summit of EU leaders has begun in Brussels amid dampened market expectations that anything very constructive will emerge to end the debt and banking crisis.  German officials remain adamant in resisting new initiatives.  Speculation continues that the ECB will cut interest rates next week.  Just in is an announcement from the Czech monetary authorities […] More