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Australia's central bank keeps rates at 2.5pc SYDNEY: Australia's central bank kept interest rates on hold at a record low 2.5 percent Tuesday as it flagged an accommodative monetary policy and stepped up its rhetoric against the local dollar.The Reserve Bank of Australia said it was prudent to maintain a "period of stability in interest rates" to support demand and growth in the economy as it shifts away from a dependence on mining."In the board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target," governor Glenn Stevens said in a statement."On present indications, the most prudent course is likely to be a period of stability in interest rates."The central bank's decision to leave the cash rate unchanged was widely expected by economists and financial markets.The Australian dollar was mostly steady following the decision, lifting slightly above 93 US cents. The RBA lifted its criticism of the dollar's ...


Australia central bank holds rates at record low 2.5pc SYDNEY: Australia's central bank kept its cash rate steady at a record low of 2.5 percent on Tuesday, a widely expected decision given it has repeatedly stated that policy would likely be on hold for some time to come. The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. All 23 analysts in a Reuters poll had felt the RBA would leave rates unchanged this week.Copyright Reuters, 2014

PBOC to drain 18bn yuan via repos SHANGHAI: China's central bank will drain 18 billion yuan ($2.93 billion) from the money markets through 14-day bond repurchase agreements on Tuesday, traders said. Maturing repos will inject a net 40 billion yuan into the banking system this week. The People's Bank of China (PBOC) conducted a net injection of 45 billion yuan into the banking system last week. Copyright Reuters, 2014

Six steps to Alibaba's twelve-figure valuation HONG KONG: How do you value a tech company What about a dominant, fast-growing, profitable tech company with no peers that operates in an opaque economy.Fund managers need to decide as Alibaba kicks off the roadshow for its long-awaited initial public offering. Breakingviews offers a six-step guide to sizing up China's biggest e-commerce group. How fast can Chinese e-commerce grow. Four in every five yuan spent on online shopping in the People's Republic last year ...

Apple's shadow looms large at Berlin electronics show BERLIN: Berlin's gigantic IFA consumer electronics fair opens this week, with the shadow of Apple looming large even if the iconic US brand traditionally snubs the event. IFA, one of Europe's biggest showcases of the latest electronic gadgets, is scheduled to open on September 5 and run until September 10.But news that Apple will stage a mystery unveiling of its own on September 9 is likely to upstage any of the announcements made by its ...

Philippines Aug inflation seen hitting top end of central bank target MANILA: Philippine annual inflation in August is expected to hit the upper limit of the central bank's target for the first time in nearly three years, a Reuters poll showed, driven by higher food and electricity prices.The median forecast in a Reuters poll of 11 analysts was for annual inflation to have accelerated to 5.0 percent, the fastest since October 2011.If the estimate is correct, it would be the first time in nearly three years ...

Thailand set to approve Volkswagen factory FAZ FRANKFURT: Thailand is set to approve the construction of a Volkswagen factory near the port of Bangkok, German daily Frankfurter Allgemeine Zeitung reported, citing the Thai investment authority BOI. A decision from the authority could come as early as next week, the paper said on Monday. The investment, under Thailand's "Eco2" programme, would secure tax and customs advantages for Volkswagen if it builds fuel efficient cars, provided the factory produces more than 100,000 vehicles ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln