Wednesday, December 19, 2012

DailyMarkets.com - Georgia Cuts Rate 25 Bps To 5.25%, Inflation Forecast Cut

DailyMarkets.com - Georgia Cuts Rate 25 Bps To 5.25%, Inflation Forecast Cut

Georgia Cuts Rate 25 Bps To 5.25%, Inflation Forecast Cut

Posted: 19 Dec 2012 09:13 AM PST

    Georgia’s central bank cut its benchmark refinancing rate by 25 basis points to 5.25 percent, continuing its policy of cutting rates as inflation remains below the bank’s target.
    The National Bank of Georgia, which has cut rates six times this year by a total of 150 basis points this year, said it was further reducing its forecasts for inflation over the next two years. It did not give specific figures, but the central bank targets inflation of 6 percent.
  … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

The Ghosts Of Fiat Currencies Past

Posted: 19 Dec 2012 09:00 AM PST

Nearly 600 paper forms of money created over the past several centuries are no longer in circulation, according to research summarized by Gold Silver Worlds recently. While the reasons vary from declarations of independence, monetary unions, war or hyperinflation, these ghosts of currencies past portray a haunting history for paper currencies backed only by the trust of a government.
David Morgan's research highlighted by Gold Silver Worlds finds that of 599 former paper currencies over the … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Oil Rises On German Data, Fiscal Cliff Hopes

Posted: 19 Dec 2012 08:18 AM PST

12/19/12 With investors believing that US fiscal cliff negotiations are continuing to inch closer to some sort of deal, oil prices have been in an uptick, especially following the release of better than expected German business confidence … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Euro Hits 17-month High Versus Yen

Posted: 19 Dec 2012 03:16 AM PST

12/19/12 The euro's surge continued Wednesday, hitting a 17-month high against the yen after German business confidence rose more than expected in … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Stocks Higher On German Data, Nikkei Breaches 10,000 Mark

Posted: 19 Dec 2012 03:16 AM PST

12/19/12 Global stocks were inching higher Wednesday morning following a rise in German business climate data. Also, Japan’s Nikkei surged 2.4% as it breached the 10,000 mark for the first time since … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Will Sugar’s Price Outlook Sweeten In 2013?

Posted: 19 Dec 2012 06:18 AM PST

Wednesday, December 19, 2012
Psychologically, Sugar prices have turned bullish for the near-term, as prices rallied off recent lows after a rather bearish surplus estimate failed to draw in short-sellers. Though current momentum is now favoring Sugar bulls, we may not see any major fresh buying by large speculators unless we can see a strong close through the 20-cent per pound level.
Fundamentals
After trading at 28-month lows, Sugar futures prices are beginning to rebound, as some traders … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Norway Holds Rate Steady, Sees Higher Rate “further Out”

Posted: 19 Dec 2012 05:23 AM PST

     Norway’s central bank kept its policy rate steady at 1.5 percent, as expected, saying that country’s inflation was low while economic growth among its trading partners was weak and their interest rates very low.
    But Norges Bank maintained an upward bias in its policy guidance, quoting Deputy Governor Jan Qvigstad as saying that “developments in the Norwegian economy give reason to believe that inflation will gradually pick up. This suggests that the key policy … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Taiwan Holds Rate Steady, Sees Improved 2013 Outlook

Posted: 19 Dec 2012 04:56 AM PST

    Taiwan’s central bank held its benchmark interest rates unchanged, as expected, saying the current policy rate was conducive to maintaining price stability and promoting economic growth in light of a modest economic recovery, subdued inflationary pressures and global economic uncertainties.
    But the Central Bank of the Republic of China, which has held its discount rate steady at 1.875 percent since June last year, struck an optimistic tone about next year, saying the … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Czech Central Bank Holds Rate Steady At 0.50%

Posted: 19 Dec 2012 04:09 AM PST

    The Czech central bank held interest rates unchanged, as expected, and the board will release details of its decision later today.
    Last month the Czech National Bank cut its benchmark two-week repo rate to a record low of 0.50 percent and said it would keep rates at this level “over a longer horizon until inflation pressures increase significantly.”
    The central bank also maintained its discount rate at 0.05 percent and the Lombard rate at 0.25 … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards

Libor Scandal Update: UBS GUILTY Of FRAUD!!!

Posted: 19 Dec 2012 03:54 AM PST

GUILTY!!
Why would anybody want to do business with an institution that systematically participated in a widespread fraud over a period of years? I guess that very statement could likely be said of many global banks in regard to the scandal encompassing the manipulation of Libor.
Today, though, the scarlet letter is applied to the Union Bank of Switzerland as it pleads guilty to fraud in the manipulation of Libor and other benchmark interest rates. This  bucket shop has agreed to pay a … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards
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