Archive for October 15th, 2013

Larry's Blog

Policy Crime and Punishment

October 15, 2013

A frequent question today on business talk radio and television asked about the likely financial and economic consequences if a U.S. default, even one in only a technical and brief sense, is not averted after Thursday, and the answers varied but for the most past were kept vague with good reason.  This is uncharted territory […] More

Central Bank Watch

Central Bank Rate Cut in Sri Lanka

October 15, 2013

The third interest rate cut since December has been implemented by officials at the Central Bank of Sri Lanka.  The repo and reverse repo rates were each sliced by 50 basis points and now become 6.5% and 8.5%.  The reductions match ones made in May.  A set of 25-bp cuts were done in December 2012.  […] More

New Overnight Developments Abroad - Daily Update

Markets Not Expected U.S. to Default

October 15, 2013

Investors anticipate some kind of deal before Thursday’s deadline to create a temporarily higher U.S. debt ceiling. Share prices rallied 1.1% in Taiwan, 1.0% in South Korea and Australia, 0.7% in Indonesia, 0.5% in Hong Kong, and 0.3% in New Zealand and Japan.  Equities are up 0.9% in Britain, 0.7% in Germany, 0.6% in France, […] More