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Sterling falls after UK services survey disappoints LONDON: Sterling sank against both the dollar and the euro on Monday after a monthly survey of the services sector crushed any remaining market expectations that the Bank of England is likely to raise interest rates any time soon. The 53.3 point reading on the index of purchasing managers in a sector that dominates British economic output was the lowest since May 2013, and sharply below analysts' forecasts and the previous month's figures. The pound dropped almost half a cent against the dollar in response before steadying at $1.5190, down from $1.5220 before the numbers were published. "This has taken the pound properly lower," said Tobias Davis, a currency hedging manager at Western Union in London. "It is further evidence that all the rate hike talk is still premature. Couple this morning's data with a deteriorating external environment, we're not going to see a sniff till next year." After US ...

Dollar weaker as rate increase expectations pushed back LONDON: The dollar nursed losses on Monday, falling around 0.5 percent against the euro and slipping against a basket of currencies, after a weak US jobs report drove traders to push back expectations of a Federal Reserve rate hike to early 2016. The euro's bounce, though, is likely to remain muted, with the European Central Bank likely to come under additional pressure to ease monetary policy in a bid to neutralize the impact on inflation ...
Sterling rate swaps push first BoE hike expectations to end-2016 LONDON: Sterling short-term interest rate swap markets pushed back chances of a first rate rise by the Bank of England to late 2016, after a weaker-than-expected US jobs report saw investors cut the odds of a Federal Reserve hike by the end of 2015. An improving British labour market has raised expectations the BoE will be among the first major central banks to raise interest rates, although it is seen unlikely to act before the ...
Sterling bolstered by narrowing UK current account deficit LONDON: Sterling rose on Wednesday after Britain's current account deficit narrowed sharply in the three months to June with expectations of inflows from the European Union towards farm subsidy payments to UK farmers also helping the currency. Numbers released on Wednesday showed the deficit fell to 16.8 billion pounds in the second quarter, far below economists' forecasts of 22.3 billion pounds, while living standards rose at their fastest rate in more than five years. The ...
Sterling dips on Dudley's comments, UK farm subsidies talk helps vs euro LONDON: Sterling eased towards a 4-1/2-month low against the dollar on Monday, with the greenback boosted by comments from Federal Reserve policymaker William Dudley who said a US rate hike this year was very much on the cards. Dudley, who heads the Federal Reserve of New York, said he was confident that weak global economic conditions and the strong US dollar would not permanently hold down inflation. And with inflation likely to rise and the ...
Expectations of 2015 Fed rate hike nudge dollar higher LONDON: The dollar edged back towards a five-week high against a basket of major currencies on Monday, as investors eyed U.S. payrolls numbers and Chinese data later in the week for confirmation of bets the Federal Reserve will hike interest rates this year.The dollar index hit its highest since late August on Friday after Fed Chair Janet Yellen said she expected to begin raising rates later in 2015, as long as inflation remained stable and ...
Sterling skids vs euro as Draghi says too early for more stimulus LONDON: Sterling skidded over 1 percent against the euro on Wednesday after the head of the European Central Bank said it was too early to decide on further stimulus in the euro zone. The euro had hit a one-month low versus the pound the previous day on talk the ECB would beef up its 1 trillion euro plus asset-buying programme. But it gained 1.2 percent on Monday, its biggest one-day rise since late August, to ...


Index Closing Chg%
Arrow DJIA 16,776.43 1.85
Arrow Nasdaq 4,781.27 1.56
Arrow S&P 1,987.05 1.83
Arrow FTSE 6,298.92 2.76
Arrow DAX 9,814.79 2.74
Arrow CAC-40 4,616.90 3.54
Arrow Nikkei 18,005.49 1.58
Arrow H.Seng 21,854.50 1.62
Arrow Sensex 26,785.55 2.15

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln