Archive for August 28th, 2012

Central Bank Watch

First Hungarian Central Bank Rate Cut since April 2010

August 28, 2012

Hungary’s base rate was cut by officials at the Magyar Nemzeti Bank to 6.75% from 7.0%, breaking a string of 5 rate hikes in November and December 2010 and January, November and December 2011.  Officials had recently signaled a bias to ease contingent on a substantial and enduring reduction of Hungary’s risk premium and improved […] More

New Overnight Developments Abroad - Daily Update

A Mixed Bag of Overnight News

August 28, 2012

ECB President Draghi will not be attending the Jackson Hole Symposium.  He was previously scheduled to speak on Saturday.  The announcement creates more uncertainty about what the Governing Council will decide regarding support for Italian and Spanish bonds.  Investors will have to wait until the next meeting on September 6, still ten days away. Japan’s […] More