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November 12, 2008
by Peter Charalambous
Bimal Jalan, the top official at the Reserve Bank of India from 1997 to 2003, said in an interview yesterday that India needs to cut interest rates further, as the two recent reductions have not made a tangible difference to the affordability or availability of credit to consumers or businesses.
He has called for policymakers to act as necessary so ...
November 11, 2008
by Peter Charalambous
Australia is on the brink of its first recession in over twenty years even though it managed to keep both the 1997 Asian financial crisis and the dot-com bust at bay.
Reacting to the speculation, the share market closed 3.5 percent lower fuelled by the domestic slowdown.
The global demand for commodities has meant that the 5 year growth on exports, which has ...
by Peter Charalambous
As Japan has similarly experienced, China’s export growth has also slowed falling by 19.2 percent in October compared to last year as exports totalled $128.3 billion.
The announcement of a reduction in exports will come as a blow to the Chinese cabinet who have just announced a 4 trillion yuan (£374 billion, $586 billion) investment programme in order to maintain the economy.
In contrast, imports grew ...
by Peter Charalambous
The decline in orders of Japanese machinery stands at 10.4 percent for the last three months, which has meant that manufacturers have had to react to the biggest drop on record by cutting back on investment plans.
The sudden and rapid fall in Japanese exporters has caused the Nikkei 225 Stock Average to fall 44 percent this year, as well as the country’s most ...
by Peter Charalambous
The world economy is heavily reliant upon China who contributes the most towards global economic growth, and so the relevance of China’s cabinet acting fast by introducing a 4 trillion yuan (£374 billion, $586 billion) deal in order to maintain the economy, is surely a good step.
This intervention has been described by the Chinese government as a fast and both heavy-handed investment ...
November 10, 2008
by Elaine Frei
Most European equities markets saw gains Monday after an announcement from the Chinese government that it will spend 4 trillion yuan ($586 billion) in the next two years in support of its economy.
In London, the FTSE 100 was up 0.89 percent to 4,403.92 and the FTSE 250 added 1.08 percent to 6,656.56 on gains in the mining sector after metals prices ...
November 7, 2008
by Elaine Frei
European equities markets were higher after the oil sector saw gains as oil prices rose and on the possibility that the US Federal Reserve might cut interest rates again before the end of the year.
Gains came despite the news that the US lost more jobs last month and that the unemployment rate grew to its highest level in 14 years in October.
In ...
November 6, 2008
by Elaine Frei
European equities markets saw substantial declines on disappointing earnings reports and after the Bank of England and the European Central Bank both cut interest rates during the day.
The ECB cut Eurozone interest rates by half a percentage point to 3.25 percent on a unanimous vote and could make another cut next month, while the Bank of England’s Monetary Policy Committee cut ...
by Peter Charalambous
Asian governments can be seen to be actively promoting and sustaining growth over reducing inflation.
Thus far South Korea, Thailand and Indonesia have released figures that reveal a slowdown in inflation and it is predicted that the Philippines and Taiwan will similarly report that they have kept on top of inflationary pressures.
Rate cuts have been introduced most notably in ...
November 5, 2008
by Elaine Frei
Most European equities markets were lower Wednesday on disappointing earnings reports and on declines in the oil sector after prices fell after reports from the US that gasoline inventories were up more than had been expected last week.
In London the FTSE 100 was down 2.34 percent to 4,530.73 and the FTSE 250 dropped 0.31 percent to 6,757.46.
BP (LSE: BP; NYSE: BP; TYO: 5051) was down 1.92 ...
November 4, 2008
by Peter Charalambous
Amid increased concern that domestic economic activity has fallen, the Reserve Bank of Australia (RBA) has unexpectedly announced a cut in interest rates by 0.75 percent to 5.25.
With the increasingly poor outlook of the economy, the central bank has announced that they will continue to monitor the situation and make any further adjustments as and when they are needed with the possibility ...
by Peter Charalambous
Policymakers in Asia have now finally been given scope to reduce interest rates as inflation is easing, in order to protect economic growth.
Inflation has actually slowed in Indonesia, Thailand and South Korea as a result of a combination of lower energy and fuel and consumer prices.
Central banks in the region has now averted their focus away from fighting inflation to the protection ...
November 3, 2008
by Peter Charalambous
Exports are integral to the South Korean economy as they make up more than half the gross domestic product, although there is now concern as they have only increased by 10 percent from last year.
Exports increased at their slowest pace for over a year, as shipments to China have fallen for the first time in 6 years as a fear of recession is ...
by Elaine Frei
European equities markets were higher Monday after the London Interbank Office Rate, or Libor, the rate banks charge each other for 3-month loans in US dollars, fell 17 basis points to 2.86 percent and as investors seemed to ignore reports out of the UK and US showing that manufacturing activity was down in both nations in October.
In the UK, an ...
by Peter Charalambous
Manufacturing in China has now succumbed to the global recession as weak demand has meant that China’s manufacturing is now in crisis.
In a bid to take action, the Chinese government has introduced cash into the manufacturing industry in a bid to boost infrastructure and stabilise the industry.
The government has already lowered interest rates three times in just two months, as well as ...
by Peter Charalambous
The Reserve bank of India has cut interest rates again, which is the second time in just two weeks as they aim to protect their economy from the global economic slowdown.
The central bank has cut rates from 8 percent to 7.5 as well as reducing the amount of money that lenders are required to set aside in their reserves from 6.5 percent ...
October 31, 2008
by Peter Charalambous
n a bid to fight off recession Japan has taken drastic action by cutting interest rates for the first time in over seven years.
The Bank of Japan (BOJ) cut its benchmark interest rate to 0.3 percent to help stave off a prolonged recession.
The Governor of the BOJ, Masaaki Shirakawa, was the deciding vote in cutting interest rates from 0.5 percent to 0.3 percent ...
October 30, 2008
by Elaine Frei
European equities markets were up Thursday after interest rate cuts in the US, China and Taiwan and on encouraging earnings reports in the region.
In London the FTSE 100 added 1.16 percent to 4,291.65 while the FTSE 250 gained 3.92 percent to 6,223.78 as banks and miners saw gains and insurer Old Mutual (LSE: OML; JSE: OLOML) led the 100 with a ...
October 29, 2008
by Elaine Frei
Most European equities markets were significantly higher Wednesday, with commodities-related shares, banks and insurers all higher.
The FTSE 100 added 7.14 percent to 4,343.54 in London while the FTSE 250 was up 5.09 percent to 5,989.11 on the session.
Among the biggest winners on the day in London were insurers, as Prudential (LSE: PRU; NYSE: PUK) added 18.93 percent, Aviva (LSE: AV) ...
by Peter Charalambous
The key interest rates in China have fallen to 6.66 percent from 6.93 percent as the People's Bank of China have decided to cut interest rates for the third time in two months in order to steer the country away from the deepening global financial crisis.
The deposit rate has also fallen to 3.60 percent from 3.87 percent, although interest on ...
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