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New Zealand central bank to raise rates again, but likely signal a pause WELLINGTON: New Zealand's central bank is set to raise interest rates for a fourth consecutive meeting this week but is expected to signal it will pause its tightening as it balances sliding commodity prices, rising inflation and a high flying currency. The country has been growing at close to 4 percent a year on the back of earthquake reconstruction projects in the Canterbury region, a strong housing market, booming commodity prices, and increasing migration. That has sent annual inflation up to 1.6 percent in the second quarter, from around 0.7 percent in the year-ago quarter, prompting the Reserve Bank of New Zealand to start tightening policy. The RBNZ has made it abundantly clear it intends staying ahead of the curve to keep a lid on growing inflation pressures, having tucked 25-basis point rises in March, April, and June under its belt. Thirteen of 16 economists polled by Reuters expect a ...

South Korea fin min, central bank chief cite risks to growth SEOUL: South Korea's top two economic policy officials agreed on Monday that downside risks to growth were increasing but did not say whether they saw the economy as weak enough to warrant an interest rate cut. Finance Minister Choi Kyung-hwan and Bank of Korea Governor Lee Ju-yeol also agreed to pursue "harmony between economic and monetary policies", the two organisations said in a joint statement after their first meeting since Choi took office last week. ...
Stock funds worldwide attract $6.2bn inflows over week: BofA NEW YORK: Investors worldwide poured $6.2 billion into stock funds in the week ended July 16, encouraged by strong corporate earnings and big potential merger deals in the United States, data from a Bank of America Merrill Lynch Global Research report showed on Friday.The net inflows were the biggest in four weeks and the inflows into funds that specialize in US stocks were also the biggest in four weeks at $2.5 billion, according to the ...
ECB's Weidmann cites litany of long-term dangers from loose monetary policy MADRID: European Central Bank policymaker Jens Weidmann said on Friday that loose monetary policy had "done its bit" to maintain price stability in the euro zone, but cited a litany of long-term dangers from easy money. The ECB cut rates to record lows last month as part of a package of measures to breathe life into a sluggish euro zone economy, where inflation is running far below the central bank's target and there is a ...
FX probe could be bigger problem than Libor: RBS chief LONDON: An investigation into alleged manipulation of foreign exchange markets could pose a bigger problem for banks than the Libor interest rate rigging scandal, the boss of Royal Bank of Scotland said on Friday.RBS paid $612 million last year to settle allegations that it manipulated Libor rates, one of several banks hit with big fines for rigging financial benchmarks. Regulators are now investigating allegations that traders manipulated key reference rates in the $5 trillion-a-day foreign ...
Drop in euro forgeries in first half of 2014: ECB FRANKFURT: The number of counterfeit euro banknotes withdrawn from circulation dropped in the first six months of this year, the European Central Bank said on Friday, but warned the public to watch for fakes.A total of 331,000 fake banknotes were removed from circulation in the period from January to June, a decline of 6.2 percent from the second half of 2013, the Frankfurt-based institution said in its twice-yearly counterfeits survey."Overall, the number of counterfeits remained ...
Turkish central bank says opens 4 billion lira repo auction ISTANBUL: Turkey's central bank opened a one-week, fixed-rate repo auction on Thursday with a volume of 4 billion lira ($1.88 billion). Copyright Reuters, 2014 ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln