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Bond prices dip on higher Jan core CPI, weak 7-year auction NEW YORK: US Treasuries prices fell on Thursday after an increase in core U.S. consumer prices in January pointed to marginally less dovish Federal Reserve policy and as an auction of seven-year notes met with soft demand.Core CPI, which strips out food and energy costs, rose 0.2 percent in January after edging up 0.1 percent in December. Traders focused on the increase even as the headline figure showed U.S. consumer prices posted their biggest drop since 2008 in January, falling 0.7 percent.The 30-year Treasury yield posted its biggest one-day rise in over a week. Yields move inversely to prices.Traders said the core CPI reading slightly reduced expectations that the Fed would take a more dovish stance on monetary policy. The data came after two days of congressional testimony by Fed Chair Janet Yellen, when investors interpreted her remarks as indicating the U.S. central bank was giving itself more flexibility to ...

Fed's Williams sees first rate rise in summer or fall SAN FRANCISCO: The Federal Reserve will probably start raising rates "sometime this summer, or this fall" if the economic data come in as expected, a top Fed official said on Thursday.San Francisco Fed President John Williams, in an interview on Fox Business Network, said he expects the United States to reach full employment by the end of this year and inflation to reach 2 percent by the end of next year.The Fed will need to ...

Bond prices dip on stronger January core CPI, incoming supply NEW YORK: US Treasuries prices edged lower on Thursday after stronger aspects of U.S. consumer price data failed to bolster the case for dovish Federal Reserve policy and incoming supply weighed on prices.U.S. consumer prices posted their biggest drop since 2008 in January as gasoline prices continued to tumble, falling 0.7 percent. Core CPI, which strips out food and energy costs, rose 0.2 percent in January, however, after edging up 0.1 percent in December.Analysts said ...

RBS shrinks investment bank, posts $5.4bn loss LONDON: Royal Bank of Scotland (RBS) will shrink investment banking operations drastically, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on lending in Britain.RBS is seven years into an unprecedented corporate diet, shedding more than 1 trillion pounds ($1.54 trillion) in assets as it retreats from the acquisitions that once made it the largest bank in the world and an enormous financial burden for ...

Apple to hold event on March 9, as Watch launch nears SAN FRANCISCO: Apple Inc sent out invitations for a media event in San Francisco on March 9, about one month before the much-anticipated launch of the new Apple Watch.The world's largest technology company did not specify what the event will be about in the invitation which reads simply "Spring Forward," a word play on the resetting of watches for daylight saving time.Chief Executive Tim Cook said last month that the company plans to launch the ...

Bank of England tightens internal rules after FX investigation LONDON: The Bank of England announced tougher rules for its staff who speak regularly with bond and currency traders, after a review last year showed a senior member of staff had turned a blind eye to market malpractice.The BoE said on Thursday it would set out the terms of the Bank's engagement with market participants, provide better training for staff, improve note-taking and form a new committee to oversee the way it gathers intelligence from ...

US Fed awards $130.58bn reverse repos Thursday NEW YORK: The US Federal Reserve on Thursday awarded $130.58 billion of overnight fixed-rate reverse repurchase agreements to 54 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.On Wednesday, the U.S. central bank allotted $149.75 billion in overnight reverse repos to 58 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.Demand for the ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln