Central Bank Watch
Another Possible Future Australian Interest Rate Cut Still in Play
April 2, 2013
The Reserve Bank of Australia monthly Board meeting ended with the as-expected decision to stay in wait-and-see mode. Between November 2011 and December 2012, five 25-basis point cuts and one 50-bp reduction of the Official Cash Rate (OCR) were implemented, slashing such from 4.75% to 3.0%, which matches the 2009 low. In today’s new statement, […] More
Central Bank Watch
More Dovish Tone in Latest Statement from Central Bank of the Russian Federation
April 2, 2013
The Russian refinancing rate was left unchanged at 8.25%, its level since last September. In three ways, however, an increased possibility of a cut later in 2013 was conveyed. The central bank’s Board of Directors voted “to reduce effective from 3 April 2013 the interest rates on certain longer-term refinancing operations by 0.25 percentage points.” […] More
Deeper Analysis
Some Convergence Last Month in the U.S. and Ezone Manufacturing PMI Indices
April 2, 2013
The 2.9-point decline last month of the U.S. purchasing managers index (PMI) exceeded the 1.1-point slide in its Euroland counterpart. Both readings constituted three-month lows. The monthly average EUR/USD level in March of $1.2949 was a four-month low. Manufacturing in the United States had an above-50 reading, indicating an expansion of activity, albeit at a […] More
New Overnight Developments Abroad - Daily Update
European Stocks Up in First Post-Easter Trading
April 2, 2013
Equities have risen 1.2% in France and Germany, 1.0% in Britain, 0.7% in Spain and 0.4% in Italy. Most of Europe was shut for Easter Monday yesterday. The Cypriot exchange also finally reopened. Stocks in the Pacific Basin closed mixed with drops of 1.3% in The Philippines, 1.1% in Japan, 0.5% in South Korea and […] More
