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financial markets

Russia's Central Bank keeps key rate at 7.5%

Moscow - TASS

The board of directors of the Bank of Russia has decided to keep the key rate at 7.5% per annum, the regulator said in a press release following the board meeting on Friday. "The domestic financial market has stabilized in the time since the previous board meeting. However, pro-inflationary risks remain elevated, especially over a short-term horizon. The uncertainty overRead more

European equities mostly rise

New York - Arab Today

Investing.com - Here are the top five things you need to know in financial markets on Friday, December 8: 1. Dollar Rises With U.S. Employment Report on Tap The U.S. Labor Department will release its November nonfarm payrolls report at 8:30 a.m. ET (13:30 GMT) on Friday, and it will be watched more for what it says about wages thanRead more

ECB to play for time as pressure grows on easy money

Frankfurt - AFP

The European Central Bank will prefer to play for time and seek to calm financial markets than sketch out the exit from its easy-money policy at its Thursday meeting, analysts agree. Conflicting pressures are squeezing the ECB: a stronger euro and still-sluggish inflation could justify prolonging its "quantitative easing" bond-buying programme, but it is approaching the legal limits of theRead more

Senate Republicans balk at repeal vote

Washington - Arab Today

U.S. Senate Republican leader Mitch McConnell set a vote on a straight repeal of Obamacare after efforts to overhaul the healthcare law collapsed, but the new approach unraveled within hours on Tuesday in a sharp setback for President Donald Trump and his Republican Party. The disarray in the Republican-controlled Senate rattled financial markets and cast doubt on the chances forRead more

BoE’s ‘hawk shock’ highlights delicate sterling balancing act

London - Arab Today

The Bank of England (BoE) gave sterling an instant shot in the arm on Thursday, stunning financial markets by moving closer to raising interest rates than it has been at anytime in the last decade. With the rate of inflation at its highest in four years and showing no sign of reversing, the BoE’s eight-strong Monetary Policy Committee (MPC) votedRead more

ECB sees clouds over eurozone's financial stability

Frankfurt - AFP

The European Central Bank said Wednesday that stress in the eurozone financial system had remained low over the past six months, but it warned of "significant" risks to that stability. "Risks to financial stability stemming from financial markets remain significant, mainly owing to the possibility of a further rapid repricing," the Frankfurt-based institution wrote in its half-yearly Financial Stability Review.Read more

Major Brazilian hedge funds hit by market rout

Sao Paulo - Arab Today

Several Brazilian hedge funds suffered their worst one-day losses in at least a decade after Brazil’s financial markets were slammed by a corruption scandal threatening to topple President Michel Temer and his reform agenda. High-risk Alaska Black lost 28.02 percent on Thursday, after turning in the top performance among Brazilian hedge funds tracked by Reuters in 2016 with a 129Read more

IMF foresees global economy accelerating to 3.5% in 2017

Washington - Arab Today

A resilient China, rising commodity prices and sturdy financial markets are offering a sunnier outlook for the global economy and helping dispel the gloom that has lingered since the Great Recession ended. That is the picture sketched Tuesday by the International Monetary Fund (IMF), which predicts that the world economy will grow 3.5 percent this year, up from 3.1 percentRead more

Beijing urged to break ‘feedback loop’ behind yuan’s falls

Shanghai - Arab Today

Beijing needs to stem capital outflows and manage expectations when market jitters risk putting falls in China’s yuan into a potentially destructive feedback loop, a senior Chinese central bank researcher said. “At the moment, the fall in the yuan’s exchange rate is shaping market expectations. Depreciation triggers capital flight, and capital flight exerts even bigger pressure on the yuan,” saidRead more

Fed's Yellen signals that rate hike likely soon

Washington - Arab Today

Federal Reserve chief Janet Yellen on Thursday gave financial markets what they were looking for, and expecting -- a clear signal a US rate hike is likely coming in December to get ahead of inflation. Yellen pledged to serve out her four-year term, despite accusations from President-elect Donald Trump that she has kept interest rates low in order to helpRead more