Archive for April, 2006
China raises loans rates 0.27 to 5.85 per cent
China moved to tackle a surge in new bank loans and investment by lifting its benchmark one year lending rate by 0.27 of a percentage point to 5.85 per cent, sparking a brief sell off in commodities and shares tied to the booming Chinese economy. China’s rate rise was its first since October 2004 and [...]
April 28, 2006
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Bank of New Zealand keeps loans rates at 7.25%
The most important data of the day, released whilst we all slept blissfully, the Reserve Bank of New Zealand held interest rates steady as expected at 7.25 percent; the highest level in the industrialised world, and reiterated they would stay on hold for the rest of the year. An upbeat batch of US economic reports [...]
April 27, 2006
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UK loans rates strengthen on Bank of England views
The U.K. economy, Europe’s second largest, is expected to have expanded 0.6 percent, when then UK GDP (1st estimate for Q1) is released this morning, the same pace as in the three months through December. An accelerating economic expansion around the world is helping British exports. The Bank of England says overseas sales, investment by [...]
April 26, 2006
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Bank of England votes 7-1 to keep rates on hold
The Bank of England’s concerns about the effects of high energy prices and the public’s inflation expectations put paid to any chance that the Bank of England might have considered trimming the cost of borrowing at its rate-setting meeting earlier this month. Minutes released on Wednesday showed that the Bank’s monetary policy committee voted 7 [...]
April 19, 2006
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Bernanke must learn to walk the lineon loans rate rises
With bond yields touching new highs lately, the Federal Reserve faces a new dilemma: Raise rates too much and housing takes a dive. Stop too soon and inflation flares up. To avoid either outcome, Ben Bernanke, the new Fed chief, will have to walk the line between too much tightness and not enough. Right now, [...]
April 18, 2006
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FED reviews it’s rates stance
The Federal Reserve is determined to maintain and enhance its reputation as a fierce opponent of inflation, two top Fed officials said on Tuesday, while offering few clues about the immediate policy path. “The most important contribution monetary policy can make to growth and rising standards of living is to achieve and maintain price stability,” [...]
April 11, 2006
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Euro suffers as ECB dampens May rate hike bets
The euro edged further away from seven-month highs versus the dollar and record levels against the yen on Friday, after the head of the European Central Bank poured cold water on market expectations of a May rate hike. ECB President Jean-Claude Trichet surprised investors on Thursday, following the bank’s decision to hold interest rates at [...]
April 7, 2006
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All quiet on the Central Bank front?
The roller coaster behaviour of the US Dollar eased a little yesterday and instead it was the recently stagnant euro which caught the markets attention as it finally broke out of a 15 month range. With both the MPC and the ECB both announcing their rate decisions today, we await to see how much longevity, [...]
April 6, 2006
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Loans rates drift higher in slow market
On Monday, 10 year yields hit a near four year high of 4.909 per cent but by late morning on Tuesday T Bonds had eased to 4.858 per cent, down 0.8 basis points on the day. Shorter-dated Treasuries were stronger ahead of speeches by Federal Reserve officials amid speculation that the overall tone could be [...]
April 4, 2006
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Loans interest rate outlook sustains bond sell-off
Strengthening expectations that global interest rates will rise further threaten to prolong a sharp sell-off in the major government bond markets. Forecasts that rates will rise faster and further than expected sent bonds sharply lower last week and yields surging. The 10-year US Treasury saw the worst weekly loss in five months and is now [...]
April 3, 2006
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