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China set to post slowest growth in 28 years

BEIJING: China is expected to report today that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising US tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown. Growing signs of weakness in China – which has generated nearly a third […]


Does the corporate debt mountain pose risk?

PARIS: During the years of ultra cheap money, companies loaded up on debt but now the concern is whether they will be able to handle the mountain of debt as interest rates rise. Until last year, companies basked in the sun of low interest rates while economies were expanding at a steady clip. They had […]


RM231.21 mln in foreign funds flow into equity market

KUALA LUMPUR: Foreign investors were generally net buyers in the Malaysian equity market, pumping in RM231.21 million between Monday and Thursday compared with only RM25.5 million during last week’s holiday-shortened trading days. Foreign fund outflow of RM12.33 million was only registered on Monday while the remaining days saw net inflow of foreign funds. M&A Securities […]


China set to post slowest growth in 28 years in 2018, more stimulus seen

BEIJING, Jan 20 — China is expected to report tomorrow that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising US tariffs, adding pressure on Beijing to roll out more support measures to avert a…


Does the corporate debt mountain pose an avalanche risk?

PARIS, Jan 20 — During the years of ultra cheap money, companies loaded up on debt but now the concern is whether they will be able to handle the mountain of debt as interest rates rise. Until last year, companies basked in the sun of low interest…


RM231.21m in foreign funds flow into equity market

KUALA LUMPUR, Jan 20 — Foreign investors were generally net buyers in the Malaysian equity market, pumping in RM231.21 million between Monday and Thursday compared with only RM25.5 million during last week’s holiday-shortened trading days….


Myanmar: Year in review 2018

Although Myanmar’s economy has grown above the regional average in 2018, a fall in overseas investment, crop losses and a weakening of the kyat have combined to slow the pace of that economic growth. However, moves to open up sectors of the economy to foreign ownership may boost inward investment in the coming year. According […]


Ringgit expected to trade higher next week

KUALA LUMPUR: The ringgit is expected to trade higher next week backed by strong domestic fundamentals and higher oil prices, but still exposed to external uncertainties.

FXTM Research Analyst Lukman Otunuga said downside risks could be offset by resilience in domestic demand, manageable inflation and steady economic growth.

“Several local key indicators will be announced next week, including the foreign reserves data, followed by December’s inflation data. The latest CPI reading comes ahead of Bank Negara Malaysia’s (BNM) first Overnight Policy Rate decision for 2019, slated for Jan 24,“ he told Bernama.

He also said the central bank is likely to stand pat on the benchmark interest rate at 3.25 per cent for 2019, in contrast to the tightening bias seen last year in neighbouring central banks.

“Global growth is expected to see downward pressure as the year progresses, which could feed into Malaysia’s economic outlook.

“Domestic inflation, meanwhile, is expected to remain manageable in 2019 and is one of the reasons why BNM feels no real pressure to change monetary policy in either direction,“ Lukman added.

However, he said, investors would still keep a close eye on external factors that have a greater influence over the ringgit, such as US monetary policy, US-China trade tensions, China’s economic slowdown and Brexit uncertainties.

“These future events may also weigh on global sentiment in the near-term, which may put further pressure on emerging market currencies, including the ringgit,“ he said.

The ringgit is expected to trade between 4.10 to 4.12 next week.

On a Friday-to-Friday basis, the local note eased to 4.1100/1150 from 4.0940/0980 against the greenback.

It slid against the Singapore dollar to 3.0301/0342 from 3.0297/0338 and declined against the British pound to 5.3179/3248 from 5.2203/2270.

Against the Japanese yen, the ringgit jumped to 3.7507/7559 from 3.7785/7832 and appreciated against the euro to 4.6842/6903 from 4.7155/7217.

The Malaysian market will be closed on Monday for Thaipusam. — Bernama


Trade talk hopes poise dollar for first positive week this year

NEW YORK, Jan 19 — The dollar held firm against its rivals yesterday and was poised for its first weekly gain in five weeks, boosted by optimism about trade talks between China and the United States. US Treasury Secretary Steven Mnuchin discussed…


Deutsche and Commerzbank: a marriage of (in)convenience?

FRANKFURT AM MAIN, Jan 18 — Will they or won’t they? If Germany is to become home to a global banking giant, as Berlin wants, then troubled Deutsche Bank and Commerzbank may be headed down the aisle — but observers say it is hardly a match…