Central Bank Watch
Bank of England Preview
October 2, 2012
The primary tool of British monetary policy since March 2009 has been the Asset Purchase Program, which has been expanded periodically as needed and most recently by GBP 50 billion in July to a limit of GBP 375 billion. That higher ceiling will not be reached for another month, so announcement of a policy expansion […] More
Central Bank Watch
A Surprise Easing at the Reserve Bank of Australia
October 2, 2012
The RBA’s Official Cash Rate has been sliced by another 25 basis points to 3.25%, its lowest level since October 2009 and just 25 bps above the Great Recession low. Today’s was the first reduction since a 25-bp move in June. Before then, The OCR was also cut by 50 bps in May, and by […] More
New Overnight Developments Abroad - Daily Update
Equity Rally Extended
October 2, 2012
Monday’s better market tone extended into Tuesday, fed by a surprise Australian Official Cash Rate cut and hopes of a Spanish bailout. Stocks rose 1.1% in New Zealand, 1.0% in Australia, 0.8% in the Philippines, 0.7% in Singapore, 0.6% in Taiwan, 0.5% in Indonesia, and 0.3% in India. China remains closed for the entire week, […] More
