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Alex Iancu

India keeps interest rates on hold but rupee further sinks | Inquirer Business - 0 views

business.inquirer.net/...n-hold-but-rupee-further-sinks

india keeps interest rates hold sinks business

shared by Alex Iancu on 16 Apr 14 - No Cached
  • India keeps interest rates on hold but rupee further sinks
  • dia’s central bank kept benchmark interest rates unchanged Tuesday as part of its struggle to prop up the battered rupee but the currency weakened further to hover just above a lifetime low.
  • Reserve Bank of India (RBI) made it clear its key priority right now is to support the rupee at the expense of spurring an economy that has been expanding at its weakest level in a decade.
  • ...8 more annotations...
  • the currency slid to 60.40 rupees to the dollar, close to its record low of 61.21 rupees hit earlier this month.
  • “The RBI has done everything to defend the rupee—but it did not hike rates,”
  • Business leaders and Finance Minister P. Chidambaram have been pushing for cheaper borrowing rates to boost growth,
  • push up the cost of imports, drive up already stubbornly high consumer price inflation and risk a widening of the current account deficit, which hit a record 4.8 percent of gross domestic product last year.
  • Earlier th
  • is month, the central bank raised two short-term lending rates to support the rupee, which is the worst-performing currency among major Asian nations.
  • India’s economic woes have led to increased speculation that it could be headed for an economic crisis of the sort it suffered in 1991, which forced a bailout by the International Monetary Fund.
  • “I feel shaky. Now there is a 10-20 percent chance that we might see 1991 again
  • Alex Iancu on 16 Apr 14
     
    India Inflation rate is kept constant-Rupee continues to sink
azuccolo15

Japan's Central Bank Holds Off More Stimulus - NYTimes.com - 0 views

www.nytimes.com/...k-holds-off-more-stimulus.html

shared by azuccolo15 on 15 Apr 14 - No Cached
  • The Bank of Japan stuck to its existing monetary policy on Tuesday, confident that it did not need further stimulus to beat chronic deflation even as a sales tax increase clouds the outlook for Japan, the world’s third-largest economy.
  • the country is on track to meet its 2 percent inflation target by around April next year, signaling that no further easing would happen soon.
  • “Japan’s economy continues to recover moderately as a trend, albeit with some fluctuations caused by the tax hike,” the central bank said in a statement announcing the policy decision. “Business sentiment has continued to improve, although some cautiousness about the outlook has been observed.”
  • ...2 more annotations...
  • the central bank maintained its commitment to increasing base money, its key policy gauge, at an annual pace of 60 trillion to 70 trillion yen, or about $580 billion.
  • Bank of Japan officials have been largely unfazed, pointing to positive signs such as shrinking slack in the economy.
Martina Minkova

German inflation hits three-year low in March | Business News | DW.DE | 11.04.2014 - 0 views

www.dw.de/...a-17559975

shared by Martina Minkova on 15 Apr 14 - No Cached
  • German inflation hits three-year low in March
  • for the fourth consecutive month.
  • German inflation dropped
  • ...7 more annotations...
  • Prices for heating oil and car fuels, for example, had fallen 4.2 percent compared with March 2013, Destatis announced.
  • , the agency announced, caused by decreasing prices for oil-based products over the course of a mild winter.
  • This was the lowest inflation rate in Germany since August 2010
  • The rate contrasts sharply with the 2 percent inflation goal the ECB considers desirable with regard to price stability.
  • The phenomenon is called deflation and is bad for the economy as a whole as it stalls investment and job creation, leading to shrinking output.
  • Germany's
  • Institute for the Global Economy, however, have predicted a sharp rise in inflation for later this year.
Vicky Kalfayan

Saudi Arabia may close shops early to boost employment - paper | Reuters - 1 views

uk.reuters.com/...di-shops-idUKBREA3C05J20140413

shared by Vicky Kalfayan on 15 Apr 14 - No Cached
  • Saudi Arabia is expected to make shops close at 9 p.m
  • encouraging employment by making sales jobs more attractive.
  • push young Saudis to take jobs in the private sector by closing a gap in pay, benefits and working hours with government posts, which has been the main source of national employment for decades.
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  • government is trying to encourage young people to take such positions to address long-term unemployment.
  • The official unemployment rate for Saudis is around 12 per cent. However, economists estimate that only 30-40 percent of working age Saudis participate in the workforce, either by holding jobs or seeking employment.
  • years of successive fiscal surpluses and foreign currency reserves
  • economists often warn that high government spending, particularly on salaries, is unsustainable.
dgeorgiev15

BBC News - UK new car sales highest since 2007, SMMT says - 0 views

www.bbc.co.uk/...business-25632668

shared by dgeorgiev15 on 07 Jan 14 - No Cached
  • UK car sales in 2013 recorded their best year since 2007
  • attractive financing deals have tempted buyers
  • three-quarters of sales to private buyers now involving some kind of financing package.
  • ...3 more annotations...
  • Most cars built in the UK are exported.
  • Thousands of new jobs were created in the industry as both Jaguar Land Rover and Bentley expanded their operations in the UK.
  • UK economic activity holds up well through 2014 and beyond
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