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C$ advances after Bank of Canada keeps rates steady TORONTO: The Canadian dollar strengthened against its US counterpart on Wednesday after the Bank of Canada kept interest rates steady and said it was satisfied with how the market and the economy reacted to its surprise rate cut in January.The bank kept its benchmark overnight interest rate at 0.75 percent and said that the risks around inflation were more balanced following its unexpected 25 basis point rate cut in January.The market had expected the central bank to keep rates steady for now and was looking for clues on whether a rate cut might be expected in the near future.Before the bank's announcement on Wednesday, the market had pricing in about a 60 percent chance of a rate cut in April. After the bank's the bank's comments about the economy, those expectations were scaled back to about 25 percent.The bank said in January it expects economic growth of 1.5 percent in ...

Dollar rallies to new high as euro sags below $1.11 NEW YORK: The dollar climbed to fresh highs on Wednesday, getting lift from solid US jobs and business data, as the euro sank below $1.11 to an 11-1/2 year low ahead of the launch of quantitative easing by the European Central Bank. The dollar, bolstered by recent rises in US government bond yields, hit its highest since September 2003 against a basket of currencies and was last up 0.60 percent at 95.957.Earlier it struck a ...

South Africa's rand recovers after weakening on Fitch downgrade alert JOHANNESBURG: The rand firmed late on Tuesday after tumbling to two-and-a-half week lows earlier when rating's agency Fitch warned that South Africa could be vulnerable to a credit downgrade. By 1414 GMT the rand had gained 0.08 percent against the greenback to 11.7600, recovering after falling close to one percent at 11.8175, its weakest level since February 12. Yields on government bonds rose at a government auction earlier, with the benchmark instrument due in 2026 ...

Ugandan shilling hits new all-time low, banks' demand weighs KAMPALA: The Ugandan shilling hit an all-time low on Wednesday due to dollar demand from commercial banks preparing to pay dividends abroad.At 1117 GMT commercial banks quoted the shilling at 2,930/2,940 weaker than Tuesday's closing of 2,900/2,910."What we have seen is that appetite from banks has been wildly huge and it's causing crazy losses for the shilling," said Ali Abbas, trader at Crane Bank.Traders say most foreign-owned commercial banks are taking positions as they prepare ...

Euro slides ahead of ECB; dollar at 11-year high LONDON: The euro crashed through support levels that had held for more than a month on Wednesday, hitting a six-week low under pressure from the imminent launch of outright quantitative easing by the European Central Bank. The dollar, bolstered by recent rises in US government bond yields, hit its highest since September 2003 against the basket of currencies used to measure its broader strength.There has been more momentum behind the greenback in the past week ...

Sri Lankan rupee ends steady, IMF says limit intervention in FX COLOMBO: The Sri Lankan rupee ended steady on Wednesday due to sustained moral suasion by the central bank, even as the International Monetary Fund asked the island nation to show more flexibility on exchange rates. "Intervention should be limited to dealing with excessive short-term volatility. The exchange rate does not appear out of line with fundamentals, particularly given the projected improvement in the balance of payment," said Todd Schneider, the mission head of the IMF's ...

Lower interest rates, cheap oil to drive Canada dollar lower OTTAWA: The beleaguered Canadian dollar will bear more pain in the coming months as diverging central bank policies between Canada and the United States will give investors few reasons to buy the loonie, according to a Reuters poll.The cheap price of oil - a major export for Canada - will also be a main catalyst as it becomes clearer what impact the drop in crude is having on the economy.An unexpected interest rate cut from ...


ArrowDJIA 18,203.37 0.47
ArrowNasdaq 4,979.90 0.56
ArrowS&P 2,107.78 0.45
ArrowFTSE 6,889.13 0.74
ArrowDAX 11,280.36 1.14
ArrowCAC-40 4,869.25 0.98
ArrowNikkei 18,815.16 0.06
ArrowH.Seng 24,702.78 0.74
ArrowSensex 29,593.73 0.46

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln