The dollar is narrowly mixed, showing gains of 0.2% against sterling and 0.1% versus the euro, kiwi and Canadian dollar but losses of 0.3% against the Swiss franc, 0.2% relative to the yuan, Aussie dollar, and Japanese yen. Equities rose overnight by 0.7% in Japan, 0.4% in India and Indonesia, 0.3% in Australia, 0.2% in [...]

Unexpected developments frequently are disappointing.  Japan’s massive earthquake in March, which triggered a massive tsunami and serious nuclear facility accident, arguably top the lists of greatest disappointments and greatest surprises during the first half of 2011.  Although Japan lies in geologically active region, it was not possible to know precisely where and when earthquakes will [...]

In leaving monetary policy unchanged for the coming month, a statement from the Bank of Israel made the following points: The key rate was raised from 2.0% to 3.25% between late January and late May. Despite a continuing high 4.1% rate of CPI on-year inflation in May, expected inflation has declined, and the underlying pace [...]