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Bank of England set to signal rates on hold until mid-2015 LONDON: Governor Mark Carney is likely to signal that British interest rates will stay at a record low until around the middle of next year when he sets out the Bank of England's latest economic outlook on Wednesday. Economists polled by Reuters expect the central bank to trim forecasts for growth and inflation it published three months ago because prospects elsewhere in Europe have dimmed and a four-year low in oil prices is pushing down inflation. Earlier this year, many in financial markets were predicting interest rates would have risen by now. But over the past couple of months expectations have been pushed back sharply, and now markets see rates on hold until at least August 2015. Some economists think this overstates the BoE's reluctance to start returning to something more like normal policy. "I think it will be a little more dovish than last time -- but what is ...

BoJ's Miyao: chance high that QE exit debate can begin in second half of FY 2015 TOKYO: Bank of Japan board member Ryuzo Miyao said on Wednesday there is a high chance that the central bank can begin debating an exit to its quantitative easing in the second half of fiscal 2015, the most specific comments to date about when that debate will start. Miyao did not elaborate on how or when he thought the central bank would actually start to wind down its purchases of government debt and risk assets, ...
Japan to meet 2015/16 fiscal target even if tax hike delayed TOKYO: The Japanese government can achieve its self-imposed target to halve its primary budget deficit by 2015/16 from 2010/11 levels even if it postpones a planned sales tax hike next year, government sources said. The government plans to raise the sales tax to help achieve its fiscal goal, but a recovery in corporate earnings is seen boosting corporate tax revenues, the sources told Reuters. Copyright Reuters, 2014 ...
Irish central bank fines Ulster Bank over IT fiasco LONDON: Ireland's central bank handed a record fine to Ulster Bank on Wednesday for an IT meltdown that left 600,000 customers unable to use their accounts for a month.The 3.5 million euro ($4.4 million) fine is the largest ever handed out by the central bank and was the maximum it could impose."The Firm failed to have robust governance arrangements in relation to its IT systems and controls and... as a result, a major and prolonged ...
South Korea central bank to keep rates on hold in Nov after Oct cut, eye Fed, BoJ SEOUL: South Korea's central bank is expected to keep interest rates steady at 2.0 percent at its monthly policy meeting on Thursday as it assesses the effects of its rate cut in October as well as policy decisions in the United States and Japan.All 33 analysts polled by Reuters forecast the central bank would keep the base rate on hold. It has never changed it in successive months except during times of crisis.When asked about ...
Indonesia's central bank seen keeping rates unchanged on Thursday JAKARTA: Indonesia's central bank is expected to keep interest rates unchanged at its monthly policy meeting on Thursday, a Reuters poll showed.All 15 analysts in the poll said the benchmark reference rate would be maintained at 7.50 percent, where it has been since 12 months ago.Analysts also expected no change for Bank Indonesia's overnight deposit facility rate, known as Fasbi, and lending facility rate, currently at 5.75 percent and 7.5 percent respectively.After Thursday, the final ...
PBOC to drain 20 bln yuan via 14-day repos SHANGHAI: China's central bank will drain 20 billion yuan ($3.27 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) neither drained nor injected funds in the banking system last week. Copyright Reuters, 2014 ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln