Financials shine brightest in growing Europe
Aug 13, 2015 12:56 pm UTC| Insights & Views Central Banks Economy
European Central Banks (ECB) unprecedented easing, which has unleashed more than 250 billion of liquidity in Euro zone seems to be working its magic for the economy as well as almost all subsectors, as per latest data from...
PBoC commits to narrow CNY-CNH spread
Aug 13, 2015 07:22 am UTC| Commentary Central Banks
PBoC raised todays USD-CNY fixing rate to 6.4010 this morning, 704pips or 1.1% higher than yesterdays fixing, and also higher than yesterdays closing at 6.3858. As Chi-nas central bank devalued the CNY fixing rates sharply...
Banxico unlikely to hike bank rates amid softer growth
Aug 13, 2015 06:28 am UTC| Commentary Central Banks
Banxico published its Quarterly Inflation Report for the second quarter yesterday. Due to fall in oil production and manufacturing exports, the bank revised its annual growth forecasts for 2015 to a range of 1.7-2.5% from...
Bank of Korea easing risks fade little as vital signs improve
Aug 13, 2015 05:46 am UTC| Commentary Central Banks
The Bank of Korea held the policy rate at 1.5% in August as expected, after cutting rates in June. Todays decision was unanimous, helped by the firming of activity in the services economy after the MERS outbreak. The...
PBoC set CNY fixing rates lower again
Aug 12, 2015 07:39 am UTC| Commentary Central Banks
PBoC spiked the USD-CNY fixing rate by another 1008pips, or 1.62% this morning to 6.3306. The fixing rate is 0.09% weaker than yesterdays closing. The offshore CNH breached above 6.50 this morning after the CNY fixing,...
PBOC enters a new currency regime
Aug 11, 2015 22:44 pm UTC| Commentary Central Banks
The PBOC entered a new currency regime last night, effectively switching from a currency peg to a managed float. The move was probably motivated by two factors: (1) the delay of the SDR decision by nine months served as an...
PBoC stuns with Yuan devaluation - hedging activity to intensify
Aug 11, 2015 06:41 am UTC| Insights & Views Central Banks
In an announcement, the Chinese central bank has mentioned that it had tainted the way it computed the currencys daily midpoint against the greenback, now taking the midpoint from market-makers quotes and the previous days...
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Sudan: civil war stretches into a second year with no end in sight