China 

China cuts short-term interest rates slightly in latest bid to help companies hit by US trade war

China trimmed its market reference rate for new short-term bank loans on Friday, taking another step towards helping companies hit hardest by the trade war with the United States and the overall domestic economic slowdown.The September loan prime rate, the average taken from 18 selected commercial banks, was set at 4.20 per cent for one-year maturities, down from the 4.25 per cent set in August, according to the National Interbank Funding Centre, a unit of the People’s Bank of China (PBOC).The… Source link

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Vietnam 

Interest rates to be stable till year end – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The central bank is expected to remain on hold over the coming months to observe the impact of its rate cut on the economy before making further adjustments to its monetary policy. — VNA/VNS Photo HÀ NỘI — Interest rates in the domestic market are expected to remain stable until the end of the year, buoyed by good liquidity and proper credit growth, said Phạm Thanh Hà, director of the State Bank of Việt Nam (SBV)’s Monetary Policy Department. According to Hà, the pressure on domestic interest rates has eased…

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Global 

Divided Federal Reserve cuts interest rates

This story is published in a content partnership with POLITICO. It was originally reported by Victoria Guida on politico.com on September 18, 2019.A divided Federal Reserve lowered interest rates a notch on Wednesday but did not clearly signal that another cut was in store, a move that is bound to frustrate US President Donald Trump, who has called on the central bank to slash rates to zero or below.But while Fed officials did not forecast another rate reduction, they did not rule out the… Source link

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China 

China’s central bank to stick to its guns by lowering interest rates despite soaring pork price, analysts say

China’s central bank will stick to its guns to lower interest rates and boost bank liquidity to encourage more lending and support the economy despite skyrocketing pork prices across the country, analysts said.While the surge in pork prices – up 46.7 per cent in August compared to a year earlier – has fanned public discontent and jumped to the top of Beijing’s policy agenda, overall Chinese inflation remains under control, with the August headline consumer price index remaining stable at 2.8… Source link

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Home 

JPMorgan creates ‘Volfefe Index’ to gauge impact of Trump’s tweets on US interest rates

Make market volatility great again? Analysts at JPMorgan Chase have created an index to gauge the impact of Donald Trump’s tweets on US interest rates, which they say is on the rise.The ‘Volfefe Index’, named after Trump’s mysterious ‘covfefe’ tweet, suggests that the president’s tweets are having a statistically significant impact on Treasury yields. The number of market-moving Trump tweets has ballooned in the past month, with those including words such as ‘China’, ‘billion’, ‘products’, … Source link

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Home 

HSBC refunds up to HK$20,000 in interest payments to small Hong Kong businesses to help them cope with trade war, protests

HSBC will refund up to HK$20,000 (US$2,548.96) in interest payments to its small-and-medium enterprise customers to help them cope with the challenges arising from the China-US trade war and the increasingly violent protests that have rocked Hong Kong.HSBC, the biggest of three note-issuing banks in the city, is the first lender to take action to help the SMEs, which are facing the worst economic crisis in a decade. Financial Secretary Paul Chan Mo-po has warned the city might go into recession… Source link

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Home 

China has taken a key step towards interest rate and monetary system reform, but caution will rule

The People’s Bank of China (PBOC) is pushing banks to link lending rates to its loan prime rate, an important move towards refining the country’s monetary system and unifying the dual-track interest rate regime.China has long had two tracks of interest rates. One track, consisting of money market rates and long-term bond yields, generally moves in line with market forces but could be influenced by the central bank’s open-market operations and monetary policy communication. The other track… Source link

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Home 

Investors are hoping that Powell’s speech at this weekend’s Jackson Hole retreat can clarify where interest rates are headed. Will it?

Against the backdrop of a vulnerable economy, Federal Reserve Chairman Jerome Powell takes centre stage Friday with the financial world seeking clarity on whether last month’s first Fed rate cut in a decade likely marked the start of a period of easier credit.The confusion has only heightened in the days leading to the annual gathering of global central bankers in Jackson Hole, Wyoming, at which Powell will give the keynote address.Investors are looking for a clearer signal from Powell that he… Source link

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Singapore 

Kukubird, the fashion brand, rides on Singapore interest by offering ‘special’, Singapore News

We wish we could spare you the slang generally considered crude in Singapore, but the saga seems to have wings. Kukubird, the fashion brand from the UK that shares an unfortunate name with our local slang for penis, is now penetrating the Singapore market by offering a “special rate” to customers here. This comes after the internet spotted Kukubird’s existence half the world away recently. We are guessing the inspiration behind the Manchester-based studio’s name has nothing to do with the male reproductive organ. Kukubird told AsiaOne the promotion is delivery rates “as low…

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Home 

China lowers interest rate as part of market-oriented reform amid slowing economy

China lowered its lending reference rate through a new market-oriented pricing mechanism on Tuesday, providing a modest easing of monetary conditions to help support the world’s second largest economy.The new one-year loan prime rate (LPR), which is the average of the rates that 18 designated banks charge their biggest clients, was set at 4.25 per cent, according to the National Interbank Funding Centre, a unit of the People’s Bank of China.The new rate was lower than the previous LPR of 4.31… Source link

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