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Bank of Canada seen sticking to neutral pledge few see as credible OTTAWA: The Bank of Canada will likely repeat on Wednesday that it is just as likely to cut interest rates as raise them, but a growing number of market players see this so-called neutral stance as fiction designed to keep a lid on the currency.In its last rate statement in July (http://bit.ly/1n4tq9q), the central bank said in July it was "neutral with respect to the timing and direction of the next change to the policy rate" but virtually no one believes there is actually a 50 percent chance of an actual rate cut.A Reuters survey of 39 economists unanimously predicts the Bank of Canada will keep its overnight rate at 1 percent on Wednesday, and the median forecast is that it will bump it up in the third quarter of 2015. None foresees a cut.Governor Stephen Poloz last year dropped the language of his predecessor, Mark Carney, suggesting the central ...

Portugal bank got Goldman Sachs loan before collapse: WSJ WASHINGTON: Goldman Sachs stands to lose money on a multi-million euro loan it made to one of Portugal's largest banks a month before it collapsed, the Wall Street Journal reported on Tuesday.The US investment bank made the $835-million (635-million-euro) loan in July through a Luxembourg financing vehicle it created at a time when Banco Espirito Santo, on the verge of bankruptcy, found it nearly impossible to borrow money directly in capital markets, the newspaper said.The ...
China's Agbank may issue preference shares in Sept or Oct SHANGHAI: Agricultural Bank of China Ltd , China's third largest listed lender, is contemplating issuing preference shares in September or October this year, Xu Duo, a senior official at the bank, said on Tuesday. He made the comments at a press conference in Shanghai. Last month, the China Banking Regulatory Commission has given the green light for AgBank to issue preferred shares for up to 80 billion yuan ($13.01 billion). The issuance is now pending ...
Turkish central bank opens 14bn lira repo auction ISTANBUL: Turkey's central bank opened a one-week, fixed-rate repo auction on Tuesday with a volume of 14 billion lira ($6.47 billion) , bank data showed. The repo will mature on Sept. 9. Copyright Reuters, 2014 ...
One South Korean central bank board member voted against Aug rate cut SEOUL: One dissenter voted to hold interest rates steady when the Bank of Korea's monetary policy board chose to loosen policy for the first time in more than a year on Aug. 14, minutes from the central bank showed on Tuesday. The board cut the benchmark rate by a quarter of a point to 2.25 percent, a shift from its hawkish policy stance that many analysts saw as caving in to government pressure to shore ...
Former top US Republican Cantor to work on Wall Street NEW YORK: The former US House majority leader, Republican Representative Eric Cantor, is going to work on Wall Street, his new employer said Tuesday.Cantor, 51, will be vice chairman and managing director at Moelis & Company, a small investment bank. He will also be elected to its board of directors, the bank said in a statement.Cantor, an establishment heavyweight, shocked the US political world back in June when he lost to an even more conservative ...
Thai Siam Commercial Bank eyes 25pc stake sale in life insurance unit HONG KONG/BANGKOK: Siam Commercial Bank, Thailand's third-largest lender, is in talks to sell a 25 percent stake in its life insurance business SCB Life Assurance PCL, people familiar with the matter told Reuters. Siam Commercial Bank is mostly in discussions with Japanese insurers, though no deal is imminent, they added, declining to be identified as the plans were confidential. The stake sale could fetch about $600 million based on SCB Life's current market value of ...

 



 
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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