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March 4, 2021

Interest Rates / Policy

China’s market rates unlikely to rise rapidly in short term: state media

Reuters
SHANGHAI (Reuters) – China’s market interest rates are unlikely to rise rapidly in the short term despite the recent sharp uptick in U.S. bond yields, the state-run China Securities Journal said on Thursday. Chinese bonds have been “desensitized” to their U.S. counterpart, as economic cycles in the world’s two largest......

Analysis: Global bond rout puts BOJ’s yield curve control in spotlight

Reuters
TOKYO (Reuters) – The Bank of Japan’s success in controlling the shape of the bond market’s yield curve could tempt other central banks to consider deploying similar tactics as they grapple with a rise in borrowing costs that could cripple their economies. FILE PHOTO: A man wearing a protective mask......

Australian economy storms ahead as COVID recovery turns ‘V-shaped’

Reuters
SYDNEY (Reuters) – Australia’s economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus. FILE PHOTO: Ships waiting to be loaded with iron ore are seen......

Fed’s Daly calls for ‘patience,’ says too-low inflation costly

Reuters
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday pushed back against the fear that easy Fed policy could bring on unwanted inflation,......

Cloud tech use in forex trading to soar by 2025: survey

Reuters
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – A bulk of the trading in the $6.6 trillion-a-day foreign exchange markets is expected to be on cloud technology over the......

Euro zone corporate lending growth slows as monthly flows dry up

Reuters
FILE PHOTO: A woman walks past the European Central Bank (ECB) headquarter as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown and a demand by the German government for more home office possibilities in Frankfurt, Germany, January 28, 2021. REUTERS/Kai Pfaffenbach FRANKFURT (Reuters) – Lending to......

Raising rates abruptly could jeopardise economic recovery: ECB’s Schnabel

Reuters
FILE PHOTO: Isabel Schnabel, member of the German advisory board of economic experts attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski/File Photo BERLIN (Reuters) – Raising interest rates too abruptly could jeopardise economic recovery, European Central Bank......

Global equities rise as U.S. bond yield fears ease

Reuters
NEW YORK (Reuters) – A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher. FILE PHOTO: The German share......

Column: U.S. spillover risks stifling Europe and spurring ECB into action

Reuters
LONDON (Reuters) – When U.S. interest rates sneeze, Europe catches a cold. Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration Market anxiety about the inflationary impact of the U.S. government’s massive planned spending boost is driving up U.S. Treasury yields......

FOREX-Dollar pummelled, Aussie soars as reflation trades grip FX markets

Reuters
* Graphic: World FX rates tmsnrt.rs/2RBWI5E LONDON, Feb 24 (Reuters) – The dollar remained at multi-year lows against the Antipodean currencies and held near a one-month low versus the euro as reflation trades gripped the currency markets on Wednesday. Federal Reserve Chair Jerome Powell reiterated on Tuesday that U.S. interest......

HSBC lowers ambitions on dividends, returns after pandemic-induced annual profit fall

Reuters
By Alun John, Lawrence White HONG KONG/LONDON (Reuters) – HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management in Asia after the COVID-19 shock saw its annual profits drop sharply. FILE PHOTO: HSBC logo is seen on a branch......

Ten-year Treasury yield catching up to S&P 500 dividend

Reuters
(Reuters) – A historically hefty advantage that the S&P 500 dividend yield has held over the benchmark U.S. Treasury note is on the verge of disappearing, a year after the collapse in interest rates set the stage for Wall Street’s recovery from the pandemic sell-off. FILE PHOTO: A statue of......

Canadian banks set for earnings decline but investors optimistic about recovery

Reuters
TORONTO (Reuters) – Canadian banks are set to post their fourth straight year-on-year quarterly profit drop when they report results next week, the longest decline streak since the financial crisis, on margin compression and declining commercial lending, but flattening loan loss provisions signal a turning point, investors said. Banks’ profit......

Sudan took steps to streamline commodities, imports during devaluation- minister

Reuters
Sudanese residents shop in a bazaar in Khartoum, Sudan, May 4, 2019. REUTERS/Umit Bektas/File Photo KHARTOUM (Reuters) – Sudan’s finance minister said steps had been taken to streamline strategic commodities and stop non-essential imports ahead of a sharp currency devaluation implemented on Sunday. The government expects the devaluation to stabilise......

Fed’s Rosengren says affordable child care pivotal to labor market recovery

Reuters
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque/File Photo (Reuters) – Women, minorities and low-wage workers have been disproportionately affected by pandemic related job losses and efforts to reopen the economy should include programs that improve job quality......

India’s inflation target band up for review – finance minister

Reuters
FILE PHOTO: Vendors wait for customers at their respective shops at a retail market in Kolkata, India, December 12, 2018. REUTERS/Rupak De Chowdhuri NEW DELHI (Reuters) – India’s inflation target band of 2%-6% is up for review as the current framework under which the country’s interest rate is set is......

Fed minutes highlight willingness to steer past coming inflation

Reuters
WASHINGTON (Reuters) – Facing a still-scarred economy that may need an extended time to recover fully, Federal Reserve officials last month debated how to lay the groundwork for the public to accept coming higher inflation, and also the need to “stay vigilant” for signs of stress in buoyant asset markets,......

Inflation not likely to hit Fed’s target through 2022, Rosengren says

Reuters
WASHINGTON (Reuters) – Inflation is unlikely to hit the Federal Reserve’s 2% target on a sustained basis at least through 2022, Boston Fed President Eric Rosengren said on Wednesday, adding that he was not concerned about an immediate jump in prices that is expected to occur as the coronavirus pandemic......

U.S. producer prices post biggest gain since 2009

Reuters
WASHINGTON (Reuters) – U.S. producer prices increased by the most since 2009 in January as the cost of goods and services surged, suggesting inflation at the factory gate was starting to creep up. FILE PHOTO: People shop at Macy’s Department store in New York City, U.S., March 11, 2019. REUTERS/Brendan......

Belarus central bank postpones decision on main interest rate

Reuters
MOSCOW, Feb 17 (Reuters) – The Belarusian central bank said on Wednesday it had postponed its decision on its main interest rate until March 12. It said the decision not to announce its main interest rate on Wednesday as initially planned was linked to a need to further analyse the......

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