European Central Bank cuts key rate to new low Posted on April 2, 2009April 2, 2009 by Your Financial FactSheet Goldstein, MarketWatch: “European Central Bank cuts key rate to new low” The European Central Bank, confronting a recession and barely a flicker of inflation in the euro zone, reduced Thursday its key interest rate to 1.25% — a fresh record low but a smaller-than-expected cut that stunned markets.
Market soars on White House plan for banking crisis Posted on March 24, 2009 by Your Financial FactSheet Jamaica Gleaner: “Market soars on White House plan for banking crisis” The Obama administration yesterday launched its much-awaited assault on the worst United States banking crisis in 70 years, preparing an infusion of billions of federal dollars to thaw the nation’s frozen credit markets and ease the economy out of recession.
U.S. Leading Indicators Drop Less Than Expected in Feb. Posted on March 19, 2009March 19, 2009 by Your Financial FactSheet Arbel, New York (AP): Leading U.S. Economic Indicators Drop Less than Expected A private sector group’s index of leading economic indicators dropped less than expected in February, but its broad decline of the past 19 months persisted and is unlikely to end until next year. Jamaica Observer: The 3 M’s of Money …Being smart with money is not hard once you learn and start practising some basic financial principles. After many years of being financially clueless, I was able to completely turn around my money situation once I discovered the secrets of financially successful people.
NIR: Reality or mirage?; U.S. FED rate remains near zero Posted on March 18, 2009March 19, 2009 by Your Financial FactSheet Jamaica Gleaner: “NIR: Reality or mirage? – Economy bears heavy burden for BOJ’s reserve” In the previous instalment of this series of articles, we pointed to the seeming attempt, early in the decade by the central bank, at obfuscation over its use of CDs in the market and the impact of these instruments on the BOJ’s balance sheet. However, since 2004, the auditors have labelled the Bank’s CDs as open market liabilities. CNNMoney.com: “FED maintains near zero interest rate policy” Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Jamaica Observer: :”Statin reports 0.8% inflation for Feb despite major price hikes in Jan” The Statistical Institute of Jamaica (Statin) reported 0.8 per cent headline inflation for the month of February, reflecting only 0.1-1.1 per cent movement in food and other grocery items despite distributors increaseing prices by six to 20 per cent during the month of January.