Saturday, 25 May 2013 04:37
Posted by Abdul Ahad
SANTIAGO: Chile's slower pace of economic growth and soft inflation are opening up more monetary policy possibilities, but other factors must be considered and the stance on interest rates is still neutral, the central bank's president said on Friday.Asked why medium-term market expectations had recently shifted from a rate hold to a cut, Central Bank President Rodrigo Vergara told the Reuters Latin America Investment Summit that "there are some factors that in some way open up the spectrum of possibilities towards some (options) that weren't present, in particular the option of a rate cut.""What's happened in terms of inflation and in terms of activity obviously opens up more possibilities, but there are a series of elements that we still need to evaluate," Vergara added.Traders see the central bank cutting its benchmark interest rate by a quarter-percentage point to 4.75 percent within 12 months, shifting from their view of no change ...
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SANTIAGO: Chile's slower pace of economic growth and soft inflation are opening up more monetary policy possibilities, but other factors must be considered and the stance on interest rates is still neutral, the central bank's president said on Friday.Asked why medium-term market expectations had recently shifted from a rate hold to a cut, Central Bank President Rodrigo Vergara told the Reuters Latin America Investment Summit that "there are some factors that in some way open up the spectrum of possibilities towards some (options) that weren't present, in particular the option of a rate cut.""What's happened in terms of inflation and in terms of activity obviously opens up more possibilities, but there are a series of elements that we still need to evaluate," Vergara added.Traders see the central bank cutting its benchmark interest rate by a quarter-percentage point to 4.75 percent within 12 months, shifting from their view of no change ...
PARIS: French manufacturers turned sharply brighter about their business prospects in May because activity was unexpectedly buoyant and orders were picking up, official survey data showed on Friday.The French business climate has been deeply gloomy in line with the overall performance of the economy.But the latest figures from the national statistics institute INSEE showed the index of manufacturing confidence rising by four points to 92.0 points in May from 88.0 points in April.This took the ...
FRANKFURT: German business confidence rose unexpectedly in May, data showed on Friday, as businesses in Europe's top economy express satisfaction with their situation and become more optimistic about the future. The Ifo economic institute's closely watched business climate index rose to 105.7 points in May from 104.4 points in April. Analysts had been expecting an unchanged reading this month. Copyright AFP (Agence France-Presse), 2013 ...
ZURICH: Chinese Premier Li Keqiang sees a looming free-trade deal with Switzerland as a touchstone for Beijing's growing ties with foreign nations, he told a Swiss newspaper on Thursday ahead of a landmark visit to Europe.Li was scheduled to arrive in Switzerland late on Thursday for trade-focused talks in what is the first stop on his debut visit to Europe since taking over in a once-in-a-decade power transfer in Beijing.In an opinion piece published in ...
TORONTO: The Bank of Canada's next interest rate hike won't come until the fourth quarter of 2014, according to a Reuters survey that saw economists push back forecasts for the next tightening due to the economy's tepid growth and low inflation.All 34 economists polled by Reuters expect the central bank to leave its benchmark rate unchanged at 1 percent on May 29, when it announces its next scheduled rate decision."The bank certainly has sent a ...
JOHANNESBURG: The South African Reserve Bank held interest rates unchanged Thursday in the face of high inflation, while warning of major risks to already mediocre growth.Reserve Bank governor Gill Marcus said the main interest rate would stay at five percent, despite the bank cutting its growth forecasts for the year."There are a number of critical domestic issues that are contributing the vulnerability of the economy that need to be urgently addressed," Marcus said.Africa's largest economy ...
MADRID: Borrowing costs for Spain crept higher Thursday as the recession-hit country made big inroads into financing state spending for 2013.The Spanish treasury raised 4.076 billion euros in a sale of bonds expiring in three, five and 13 years.But demand for the bonds eased off and the Treasury had to offer a slightly higher return to lure buyers when compared to the last similar auction on May 9.Spain, with the eurozone's fourth-largest economy, was forced ...
