Archive for June 12th, 2013

Central Bank Watch

Central Bank of Iceland

June 12, 2013

Interest rate normalization is not finished but has been in pause mode since a 25-basis point hike of the seven-day collateralized lending rate last November.  That was the sixth increase since August 2011, a sequence totaling 175 basis points from 4.25% to 6.0%, the present level.  Just prior to March 2009, the rate was three […] More

New Overnight Developments Abroad - Daily Update

Partial Correction

June 12, 2013

Today saw a somewhat better market tone.  Japan’s Nikkei recovered most of its initial 2% drop to close down only 0.2%. Share prices have climbed 1.8% in Spain and gained 1.9% in Indonesia, but declines were posted in Australia of 0.7%, South Korea of 0.6%, and Taiwan and India of 0.5%. The Australian and New […] More