Central Bank Watch
Reserve Bank of Australia Expresses Greater Concern about the Aussie Dollar than Before
November 5, 2013
For some time, Australian monetary officials have asserted that the A-dollar is more elevated than economic fundamentals justify now that the terms of trade has peaked and the burst in investment-sector mining is winding down. The central bank’s Board meets monthly (except in January) and just issued a more urgent call for depreciation. The Board’s […] More
Central Bank Watch
National Bank of Romania Sanctions a Further Interest Rate Cut of 25 Basis Points
November 5, 2013
With today’s cut to 4.0%, Romania’s monetary policy interest rate has dropped in four steps by 125 basis points since midyear. From a peak of 10.25%, previous reductions of 400 bps were implemented in 2009-10 and 100 bps between November 2011 and March 2012. Analysts anticipated today’s development. In a statement released today, officials at […] More
New Overnight Developments Abroad - Daily Update
A Drop in Share Prices
November 5, 2013
Equities fell 1.3% in India, 0.7% in Hong Kong, 0.6% in South Korea, 0.4% in the Philippines, and 0.2% in Indonesia and Malaysia. In Europe, Spain’s IBEX has slumped 1.3%, and stocks are 0.6-0.7% lower in Britain, Germany, France and Italy. Not all markets dropped. Japan’s Nikkei closed 0.2% firmer. Stocks rose 0.8% in Australia, […] More
