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BoE's Broadbent: market outlook for 'neutral' rates broadly right LONDON: Market expectations for the levels of interest rates needed to stabilise Britain's economy seem reasonable, Bank of England Deputy Governor Ben Broadbent said on Thursday. Broadbent said at an economics conference in London that the so-called 'neutral' interest rate - which affect investment returns and BoE policy decisions - were likely to stay low for some time but then eventually to rise. Asked if the neutral interest rate was currently positive, Broadbent said it was probably negative when adjusted for inflation, though he declined to put a figure on it. "Keeping (BoE) interest rates in nominal terms where they are is roughly right. Even with official interest rates priced to rise very gradually, it looks roughly where you'd want it to be," he said. Broadbent reiterated the BoE's existing position that it would not reduce its 375 billion pounds ($600.8 billion) of bond holdings until it had raised interest ...


Romania sells more Feb. 2025 debt than planned BUCHAREST: Romania sold a more than planned 593.8 million lei ($170.1 million) worth of Feb. 2025 treasury bonds on Thursday, with the average accepted yield at 3.93 percent, central bank data showed.Debt managers, who had planned to sell 500 million lei, last issued the paper last month at an average yield of 4.36 percent.Earlier this week, the European Union state raised 1.5 billion euros in a 10-year Eurobond issue, pre-financing some of its funding needs ...

Honda execs to take pay cut after fifth Fit hybrid recall TOKYO: Honda Motor Co said on Thursday its president and 12 other executives would take an unprecedented, quality-related pay cut after the Japanese automaker announced the fifth recall in a year of its new Fit hybrid model. The recall, which covers 425,825 Fit hybrid vehicles and other models in Japan, comes as Honda is facing lawsuits due to accidents involving airbags supplied by Takata Corp. The airbags have been linked to four deaths - all ...

UniCredit likely to pick Prelios-Fortress for exclusive UCCMB sale talks ROME: Unicredit is likely to pick the consortium comprising Fortress Investment Group and Italian property firm Prelios for exclusive talks on the sale of its UCCMB bad loan unit, the chief executive of the Italian bank said on Thursday. "That's the way we're leaning," CEO Federico Ghizzoni told reporters on the sideline of an event adding a decision would be taken on Thursday. Copyright Reuters, 2014

Fiat Chrysler CEO could raise voting stake to around 1.5pc MILAN: Fiat Chrysler Automobiles CEO Sergio Marchionne has a 0.4 percent voting stake in the carmaker, which could rise to around 1.5 percent if he exercises his stock options, a filing with US market regulator SEC showed on Thursday. Reuters made the calculations based on a total share capital of 1.6 million shares, which includes loyalty shares. Marchionne currently holds 6.8 million common shares in FCA and 16.9 million stock options exercisable within 60 days ...

Turkish central bank keeps rates unchanged on inflation outlook ISTANBUL: Turkey's central bank left its key interest rates unchanged on Thursday, saying monetary policy would remain tight until there is a significant improvement in the inflation outlook. The bank left its one-week repo rate at 8.25 percent, its overnight lending rate unchanged at 11.25 percent, its primary dealers' overnight borrowing rate at 10.75 percent and its overnight borrowing rate at 7.50 percent. All 15 economists polled by Reuters forecast the central bank would leave ...

China Construction Bank's Q3 net profit up 5pc SHANGHAI/HONG KONG: China Construction Bank Corp (CCB) , the country's second biggest lender, posted a 5 percent rise in third-quarter net profit on Thursday, in line with expectations. Net profit rose to 59.64 billion yuan ($9.75 billion) in the quarter, according to the bank's unaudited financial statement filed on Thursday. Analysts in a Reuters poll had on average predicted a result of 60.2 billion yuan. Its non-performing loan ratio increased to 1.13 percent by the ...


 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
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Arrow S&P 1,950.82 1.23
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln