Archive for November 13th, 2012

Central Bank Watch

Central Bank of Chile

November 13, 2012

For a tenth monthly meeting in a row, monetary policymakers left Chile’s policy central bank rate at 5.0%.  Their latest statement speaks in cautious tones about trends in the world’s developed economies, noting some tightening of global financial conditions since the meeting in October.  The statement observes “more positive signals in some emerging economies” and […] More

Deeper Analysis

America’s Overstated Inflation Scare

November 13, 2012

Just about everyone knows that the Federal budget deficit soared in the Great Recession when revenues plunged.  Less widely understood is the fact that the gap has been subsequently grinding downward by about a percentage point per year and is now hovering around 7% of GDP.  Monetary policy has accommodated America’s weak economic environment.  Three […] More

New Overnight Developments Abroad - Daily Update

Fresh Concern over Greek Debt Talks

November 13, 2012

An Ecofin meeting failed delayed a decision on the next tranche of aid to Greece until November 20th.  Leaders of the European Union and IMF have disagreed over deadlines when Greece must meet debt reduction targets.  The euro hit a two-month low of $1.2661 overnight but is up 0.1% on balance at the moment.  The […] More