Archive for March 25th, 2013

Central Bank Watch

Bank of Israel: No Rate Change

March 25, 2013

The Bank of Israel statement following the March interest rate meeting, which was tucked in just prior to the Pesach holiday, unvealed a third consecutive decision to leave the benchmark interest rate at 1.75%.  Six cuts of 25 basis points apiece were implemented between September 2011 and December 2012.  Israeli growth slowed in 2012 and […] More

New Overnight Developments Abroad - Daily Update

Deal Reached on Cyprus… Quiet Day from Data Standpoint

March 25, 2013

An agreement was forged between the creditor troika (ECB, EU, and IMF) and Cyprus that isolates Bank Laiku’s bad assets, permits bailout money to flow, and penalizes large shareholders and bondholders but not other depositors.  In the end, other EU governments flinched to avert a crisis. Stocks are up 1.8% in France, 1.5% in Germany, […] More