Monetary policy is working?
Near to Zero Interest Rate (since December 2008), Quantitative Easing, Purchasing of Long Term US Treasury Bonds, Mortgage-Backed Securities (MBS) (from 2008-2010), Operation Twist, Printing Money...
Read more from Wall Street Journal
2012 started with a boost!
For the first trading week in 2012, US major index:
Dow Jones risen 1.2%, Nasdaq Composite +2.7%, S&P 500 Index +1.6%.
Read more from Bloomberg
On the economic data front:
In the month of December 2011, US Created 200,000 Non-Farm Payroll, better than market forecast 152,000, a whopping increment from previous month (November 2011) 100,000 (revised from 120,000).
Jobless rate falls to 8.5%, better than market forecast 8.7%, compare to last month 8.7% (revised from 8.6%), lowest since March 2009 (check it out).
Showing posts with label Interest Rates. Show all posts
Showing posts with label Interest Rates. Show all posts
Sunday, January 8, 2012
Wednesday, January 26, 2011
Some China Banks Voluntarily Raise Interest Rates - Report
From Dow Jones Newswire
SHANGHAI (Dow Jones)--Some Chinese banks have voluntarily raised interest rates on their loans from 10% to 45%, the China Securities Journal reported Wednesday, citing unnamed industry sources.
The bank has reached its January loans target and have ordered its branches to raise interest rates so as not to exceed the bank''s quota, the paper said, citing a source.
Another unnamed joint-stock bank has also raised interest rates for loans extended to small and medium-sized enterprises by about 40% since the beginning of the year, the paper said, citing another source.
Meanwhile, the China Business News reported Wednesday that new yuan loans this year have reached CNY1.2 trillion as of Jan. 24, citing an unnamed authoritative source.
The robust amount of lending underscores the challenge faced by China as it seeks to combat inflation. In its latest move to tackle rising prices, the central bank raised banks'' reserve requirement ratio by half a percentage point Thursday, following six hikes last year.
Financial institutions in China extended CNY7.95 trillion of loans in 2010, above the official target of CNY7.5 trillion. In 2009, bank loans hit a record CNY9.6 trillion, as the government sought to boost the economy after the global financial crisis.
Link: Newspaper Website
SHANGHAI (Dow Jones)--Some Chinese banks have voluntarily raised interest rates on their loans from 10% to 45%, the China Securities Journal reported Wednesday, citing unnamed industry sources.
The bank has reached its January loans target and have ordered its branches to raise interest rates so as not to exceed the bank''s quota, the paper said, citing a source.
Another unnamed joint-stock bank has also raised interest rates for loans extended to small and medium-sized enterprises by about 40% since the beginning of the year, the paper said, citing another source.
Meanwhile, the China Business News reported Wednesday that new yuan loans this year have reached CNY1.2 trillion as of Jan. 24, citing an unnamed authoritative source.
The robust amount of lending underscores the challenge faced by China as it seeks to combat inflation. In its latest move to tackle rising prices, the central bank raised banks'' reserve requirement ratio by half a percentage point Thursday, following six hikes last year.
Financial institutions in China extended CNY7.95 trillion of loans in 2010, above the official target of CNY7.5 trillion. In 2009, bank loans hit a record CNY9.6 trillion, as the government sought to boost the economy after the global financial crisis.
Link: Newspaper Website
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