Gold price still not profiting from Greek debt crisis
Jun 25, 2015 09:43 am UTC| Commentary
The gold price initially dipped below $1,170 per troy ounce to hit a three-week low yesterday despite hopes of an imminent agreement in the debt dispute with Greece being dampened. Gold only managed to recoup some of its...
Bangko Sentral ng Pilipinas remains comfortable with policy stance
Jun 25, 2015 09:36 am UTC| Commentary
BSP kept its policy rate unchanged at 4.00%, and also left SDA rates at 2.50%.The BSP did cut its inflation forecasts, with 2015 now expected at 2.1% (previously: 2.3%; Barclays: 2.0%), and 2016 inflation at 2.5%, but the...
Jun 25, 2015 08:58 am UTC| Commentary
In New Zealand, the RBNZ adopted an easing bias in April and acted on that bias in June, cutting the cash rate by 25bp, to 3.25%.Strong house prices is not regarded as obstacle to cutting rates, given the RBNZ has...
Long end: US-EUR divergence trades look attractive
Jun 25, 2015 08:02 am UTC| Commentary
The price action over the past few months in longer tenors globally has mainly been about rising term premia.At current yield levels, term premia is close to zero in longer tenors, both in the US and euro area, estimates...
Australia RBA on hold, growth likely to improve
Jun 25, 2015 07:47 am UTC| Commentary
In Australia, growth is expected to still improve over the next couple of years.Lower interest rates are boosting housing construction, where the biggest boom since the 1990s is under way, and consumer spending via the...
Jun 25, 2015 07:36 am UTC| Commentary
The meeting of the euro group, started late but only went on for an hour.The Greek government was still in the midst of negotiations with the institutions about a reform list.The euro group meeting was once again...
China to remove 75% LDR rule; interest rates lower on liquidity injection
Jun 25, 2015 07:20 am UTC| Commentary
The National Development and Reform Commission (NDRC) of China has allowed some local government financing vehicles (LGFV) to issue new bonds for the repayment of maturing debts yeasterday. Reports are that up to 40% of...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight