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British pound rallies on Carney comments, Scotland poll NEW YORK: The British pound rallied against major currencies Wednesday as the Bank of England governor discussed raising interest rates within months and a poll showed lower support for Scottish independence.Mark Carney, addressing union leaders, said the central bank could raise its main interest rate from a record-low level in early 2015, citing the country's solid economic recovery."You can expect interest rates to begin to increase," Carney said, adding that the bank's forecasts show that hiking rates by the spring of 2015 would allow it to meet its jobs growth and inflation targets.Meanwhile, a new poll showed a slim majority of Scottish voters opposed to leaving the United Kingdom in next week's referendum.That was a reversal from a poll Sunday that showed majority support for independence, sending shockwaves through British political and business circles.A "yes" vote would open the door for long, complicated negotiations on how the closely linked economies ...

Dollar rallies on hawkish Fed expectations NEW YORK: The dollar rose to a six-year high against the yen on Wednesday as U.S. Treasury yields ground higher, while the Australian dollar sank to six-month lows as investors unwound carry trades that have benefited the currency.The greenback has gained on expectations that continuing improvement in the U.S. economy will lead the Federal Reserve to begin raising rates next year, while the euro and the yen are being weighed down by flagging economies and ...
C$ weaker as tries for C$1.10 for second day TORONTO: The Canadian dollar weakened against the greenback on Wednesday as it tried for a second day in a row to sustain a move past resistance at C$1.10 as markets were focused on just how soon the Federal Reserve might start to lift interest rates.The loonie saw little reaction to data that showed industrial capacity rose in the second quarter, though the mostly second tier domestic economic data on tap this week is not expected ...
C$ pulls back from 4-month low, fails to hold key level TORONTO: The Canadian dollar touched a more than four-month low against the greenback on Tuesday before recovering to end little changed as the currency pair failed to hold the closely watched C$1.10-level.A reassessment of the monetary policy outlook in the United States gave the greenback some strength to the detriment of the loonie the day after research released by the San Francisco Federal Reserve Bank showed investors expect the Federal Reserve to keep interest rates ...
Scotland worries keep pressure on pound NEW YORK: Increased worries that Scotland could break away from the United Kingdom kept pressure on the British pound on Tuesday.Ultimately the currency held steady for the day, but only after rocky trade pushed it to $1.6065, its lowest level against the greenback since November last year."The poor old pound is still under pressure as traders are not brave enough to go bargain-hunting just yet. The possibility of Great Britain breaking up has hit the ...
Dollar gains, euro weakens on diverging economic outlooks NEW YORK: The dollar hit a 14-month peak against the euro on Tuesday, on optimism the U.S. economy is growing in line with expectations that the Federal Reserve may begin raising interest rates next year.The U.S. currency consolidated broad gains made on Monday, when the greenback was boosted by research from economists at the San Francisco Fed indicating that investors may be underestimating when the Fed is likely to hike rates.The dollar also has benefited ...
C$ at more than 4-month low, breaks through C$1.10 TORONTO: The Canadian dollar weakened to a more than four-month low against the greenback on Tuesday, breaking through the psychologically key C$1.10 level as broad demand for the US dollar saw the loonie extend the previous session's selloff.A reassessment of the future path of monetary policy in the United States gave the greenback its strength the day after research released by the San Francisco Fed showed investors expect the Federal Reserve to keep interest rates ...


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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