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China's short-term rates finally fall, eases financial system strains SHANGHAI: The cost of short-term loans for Chinese banks has moved sharply down over the past week, as direct guidance from the central bank finally showed signs of gaining traction in money markets, although the cost of longer term debt has risen slightly since early March.Despite two interest rate cuts to the benchmark one-year loan rate since November 2014, short-term borrowing costs for financial institutions have been rising steadily since the fourth quarter, while the crackdown on shadow finance beginning last year has pushed up costs for firms without access to formal bank credit.Elevated interbank rates paired with falling central bank mandated commercial loan rates squeezes banks' margins and can make them more wary of lending.Analysts said resistance to lowering short term loan rates stemmed from a combination of rising demand for short-term credit from stock speculators, a drain on yuan liquidity caused by a strengthening U.S. dollar, and general ...


Fed's Bullard says zero US rates no longer appropriate LONDON: Federal Reserve policymaker James Bullard said on Tuesday that zero percent interest rates were no longing appropriate in the United States, and that a rate hike in the summer would still leave policy extremely accommodative."Zero is no longer the appropriate interest rate for the U.S. economy," Bullard said during a panel session at London City Week.Monetary policy would still be "extremely accommodative" even if the central bank began with a small increase in rates ...

Turkey's central bank says food prices, forex rates key inflation risks ISTANBUL: Turkish central bank said on Thursday the current course of food prices and exchange rate developments were the key risk factors regarding the inflation outlook.The bank also said it expected the current account balance to improve further throughout 2015 on the back of improving trade balance and the moderate course of consumer loans.Copyright Reuters, 2015

Singapore's key short-term interest rate hits 6-year high SINGAPORE: Singapore's benchmark three-month interest rate rose above 1 percent for the first time in more than six years on Tuesday, reflecting tighter conditions in the domestic money market and recent weakness in the Singapore dollar.The three-month Singapore interbank offered rate (Sibor), which is used to set floating-rate mortgages, rose to 1.00129 percent, its highest level since December 2008.A softer Singapore dollar can put upward pressure on local interest rates as investors seek higher yields ...

Philippine central bank seen keeping rates steady on Thursday MANILA: The Philippine central bank will likely keep its benchmark interest rate steady for a fourth straight meeting on Thursday, according to 11 economists polled by Reuters, with inflation expected to stay within its target this year.The Bangko Sentral ng Pilipinas has kept its overnight borrowing rate steady at 4.0 percent since last October as inflation cooled, helped by easing food and fuel prices.Seven of the 11 economists replied to a question about the timing ...

Philippine central bank says sees room for monetary, fiscal tweaks as needed MANILA: The Philippine central bank believes there is sufficient room for adjustments in both the country's monetary and fiscal policies if necessary, given low inflation, its governor said on Tuesday.Governor Amando Tetangco, speaking at a business forum ahead of a policy meeting on Thursday, also said the country's growth target this year of 7 to 8 percent was within reach.The Bangko Sentral ng Pilipinas kept the overnight borrowing rate at 4 percent for the third ...

Fed rate hike 'widely expected' this year, Fischer says NEW YORK: The Federal Reserve is "widely expected" to begin raising U.S. interest rates this year, with policymakers deciding on subsequent policy tightening or loosening on a meeting-to-meeting basis, the Fed's second-in-command said on Monday.Fed Vice Chair Stanley Fischer cited significant economic progress and a labor market that was nearing full employment. In an upbeat speech to the Economic Club of New York, he did however mention that the strong dollar may offset some benefits ...


 



 
Index Closing Chg%
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Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
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Arrow Sensex 27,457.58 2.33





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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln