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Sterling and gilt yields sag as BoE pushes back rate hike bets LONDON: Sterling skidded over 1 percent on Thursday and gilt yields fell, after the head of the Bank of England poured cold water on the view that it would raise interest rates shortly after the US Federal Reserve. Investors who had been betting that the first UK rate rise since the financial crisis would come in the third quarter of 2016 pushed back those expectations to the end of next year, with a rate hike now not fully priced in until well into 2017. The Bank of England gave no sign on Thursday it was in a hurry to raise interest rates, predicting that inflation, now near zero, would pick up only slowly even if rates stay on hold all next year, and highlighting the increase in external risks to the UK economy over the past three months. That was in striking contrast to the Fed, whose chair Janet Yellen ...

Sterling index hits 10-week high after robust services data LONDON: Sterling hit a ten-week high on a trade-weighted basis on Wednesday after data showed Britain's dominant services sector grew at a faster-than-expected pace in October, bolstering a view that growth is picking up in the final quarter.The purchasing managers' index (PMI) for the services industry rose to 54.9, up from September's 28-month low of 53.3 and above the 54.5 forecast in a Reuters poll of economists. That followed strong readings from parallel surveys of ...
Momentum builds behind dollar as eyes move to jobs data LONDON: The dollar inched towards 2-1/2 month highs against a basket of currencies on Wednesday, buoyed by returning expectations of a rise in U.S. rates and better growth globally, which has prodded yields on U.S. government bonds higher this week.The euro, a sufferer since the European Central Bank sent a strong message last month on the prospect of more cuts in interest rates and other monetary easing, slid another third of a percent after a ...
Turkish lira's real effective exchange rate at 94.33 in October ISTANBUL: The consumer price index-based real effective exchange rate of the Turkish lira rose to 94.33 in October from 91.16 in September, central bank data showed on Wednesday. The rate measures the weighted average of domestic prices relative to those of Turkey's trading partners. In September, the rate had hit the lowest level since January 2003. Copyright Reuters, 2015 ...
Turkish lira surges after Erdogan party returns to power ANKARA: The Turkish lira surged against the US dollar on Monday after President's Recep Tayyip Erdogan's Justice and Development Party (AKP) was returned to power in a stunning weekend election victory.The lira was quoted at 2.78 to the US dollar in early trade, up 4.4 percent, around its highest level in seven years.Sunday's election saw the AKP win back its overall majority in the Turkish parliament, paving the way for one-party rule once again after ...
A weaker dollar, what the world economy needs but may not get LONDON: The last thing the world needs right now is a stronger dollar but that's exactly what it looks like getting. A rise in the greenback of nearly 20 percent since summer last year is hurting US exports and slashing corporate earnings there, undermining the world's biggest economy and one of its twin engines of growth. In the other, emerging markets, it has contributed to a collapse in commodity prices that has caused economies to ...
Sterling dips as data shows UK economy slowing more than expected LONDON: Sterling slipped on Tuesday after data showed British economic growth slowed more than expected in the three months to September, fuelling concern that a period of rapid economic growth is coming to an end.Third-quarter gross domestic product growth slowed to 0.5 percent from 0.7 percent in the three months to June, a bigger slowdown than economists' forecasts of a drop to 0.6 percent.Sterling fell to $1.5309 after the data, before recovering to $1.5325, still ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln