Central Bank Watch
No Change in National Bank of Poland’s 4.75% Reference Interest Rate
September 5, 2012
Narodowy Bank once again left monetary policy unchanged. When the last of five 25-bp rate increases was administered in May of this year, officials warned that more restraint might become necessary in the absence of “signs of considerable economic weakening in Poland appear and the outlook for inflation returning to the target improves.” It so […] More
Larry's Blog
End-of-Summer Reflections
September 5, 2012
Who dealt this mess, anyway? Most industrialized economies are trapped in a seemingly endless stretch of deficient growth. The most acute downturn in decades ended three years ago. Europe is already back in recession, America has plunged from near best to near worst in G7 unemployment rankings, Japan still experiences deflation, and the expansion rates […] More
Central Bank Watch
Upbeat Policy Statement from Bank of Canada
September 5, 2012
For many central banks, the last interest rate change was a reduction, and even more monetary authorities have signaled a bias to ease in the future if global risks become a more immediate threat to domestic economic conditions. Not so Canada, where a statement released after this week’s sixth of eight scheduled policy meetings in […] More
Central Bank Watch
Bank of Thailand: Split Vote Favors Unchanged Interest Rate
September 5, 2012
A statement released after Thailand’s Monetary Policy Committee kept its policy rate at 3.0% found Thai domestic demand to be expanding well, observed that net exports were likely to be dampened even more by persistent global risks, and predicted in-target inflation over the policy-relevant time horizon. Similar to the prior meeting on July 25, two […] More
New Overnight Developments Abroad - Daily Update
Ezone Service PMI Scores Revised Lower as Investors Continue to Await ECB Meeting
September 5, 2012
The Australian dollar fell another 0.4% against the U.S. currency in reaction to 2Q Aussie GDP figures and touched a 6-week low of $1.0165.. The greenback also advanced 0.3% against the loonie and 0.2% relative to the euro and Swissie. The yen and yuan are steady, while the kiwi and sterling have each edged 0.1% […] More
