Archive for October 18th, 2012

Deeper Analysis

Romney’s Threat to Declare China a "Currency Manipulator"

October 18, 2012

If elected president, Mitt Romney has promised to reclassify The People’s Republic of China as a currency manipulator immediately after taking office.  It’s unlikely that he could do this before May.  The Treasury Department, a branch the executive department, examines currencies semi-annually in May and November, and those reports provide the venue for deciding if […] More

Central Bank Watch

Another Cut in Turkey’s Overnight Central Bank Lending Rate

October 18, 2012

The Central Bank of the Republic of Turkey administers monetary policy with two interest rate levers.  The main operative tool, the one-week repo rate was left unchanged at 5.75%, its level since a 50-basis point reduction in August 2011.  The other lever is the differential between the overnight lending and overnight borrowing rate.  The former […] More

New Overnight Developments Abroad - Daily Update

Anxiety Surrounding Summit of EU Leaders in Brussels

October 18, 2012

The dollar strengthened 0.4% against the yen but weakened 0.2% relative to the yuan.  Otherwise, the greenback is unchanged from the close on Wednesday against the Swiss franc, kiwi, sterling and loonie.  It is up 0.1% against the euro but down 0.1% versus the Australian dollar. As EU leaders gather for a two-day summit in […] More