New Zealand Cuts Interest Rates
The Reserve Bank of New Zealand has reduced its benchmark lending rate – known as the Official Cash Rate (OCR) from 5.0 percent to 3.5 percent. More
Federal Reserve Maintains Interest Rate
The U.S. Federal Reserve voted today to keep the Federal Funds rate between zero and 0.25 percent today with only one vote against. The Fed also acknowledged that the economy continues to shrink and that it is prepared to continue using any and all tools available at its disposal. More
Pound Sterling Rebounds
At least one influential analyst is no longer so bearish on the pound. George Soros – who famously shorted the pound to the tune of $10 billion on “Black Wednesday” in 1992 and profited over $1 billion – said today that he is no longer betting against the pound. More
Canadian Government to Survive Vote
It appears that Canada’s minority Conservative government will receive the conditional support of at least one of the opposition parties enabling it to survive a critical vote that should it lose, could see the government replaced with a coalition of three opposition parties. More
