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

Read More
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…

Read More
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

Read More
Property 

US long-term mortgage rates rise but remain historically low, as global economic slowdown, trade war weigh on sentiment

Long-term United States mortgage rates rose this week, but remained at historically low levels.Mortgage buyer Freddie Mac said on Thursday the rate on the 30-year, fixed-rate mortgage increased to 3.56 per cent from 3.49 per cent last week. Average rates on the benchmark loan have remained below 3.6 per cent for four straight weeks – the first time that is happened since the fourth quarter of 2016. A year ago, the 30-year rate stood at 4.6 per cent.The average rate for 15-year, fixed-rate home… Source link

Read More
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

Read More
Home 

Sun Hung Kai Properties bows to slumping market, pricing flats near protest-hit Sham Shui Po at 2017 rates

Hong Kong’s biggest developer, Sun Hung Kai Properties, has bowed to the pressure of a slumping housing market, pricing a batch of flats near protest-hit Sham Shui Po about 25 per cent below the prevailing market rate.The builder priced the first 235 flats at its Cullinan West III project in Nam Cheong at an average of HK$21,722 (US$2,770) per square foot after discounts – a quarter less than units sold recently in nearby estates. The price is about the same as it was two years ago for units in… Source…

Read More
Home 

Citigroup says cuts in Fed rates, global recession risks could propel gold above US$2,000  

Gold prices may rally to a record above US$2,000 an ounce in the next two years, according to Citigroup, which gave a laundry list of positive drivers including rising risks of a global recession and the likelihood that the Federal Reserve will reduce interest rates to zero.“We expect spot gold prices to trade stronger for longer, possibly breaching US$2,000 an ounce and posting new cyclical highs at some point in the next year or two,” analysts including Aakash Doshi said in a note received on… Source link

Read More
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

Read More
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

Read More
Vietnam 

Banks raise certificates of deposit rates to more than 10% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Certificates of deposit are increasingly popular as interest rates are some 1-2 percentage points higher than normal deposits. — Photo cafef.vn HÀ NỘI — Banks have increased their interest rates on certificates of deposit (CDs), bringing them in excess of 10 per cent per year with the aim of mobilising long-term capital. Bản Việt Bank recently announced it was issuing long-term CDs with record high interest rates. Specifically, an interest rate of 10.2 per cent per year is applied for a 60-month CD valued at a minimum of VNĐ10 million…

Read More