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Search resuls for: "— Jihye Lee"


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Global central bank meetings will be under the spotlight this week, including the U.S. Federal Reserve, the Bank of Japan as well as the European Central Bank. Indonesia's consumer confidence, Malaysia's retail sales and India's industrial production and inflation rates will be published as well. Tuesday will be a market holiday in South Korea and Indonesia will publish its retail sales for the month of April. South Korea's import and export prices for May will be out on Wednesday alongside its unemployment rate. On Friday, Singapore's non-oil domestic exports for May will be published and the Bank of Japan will conclude its central bank meeting.
Persons: Singapore's, — Jihye Lee Organizations: U.S . Federal Reserve, Bank of Japan, European Central Bank, Federal, Market, Central Bank Locations: South Korea, Indonesia, U.S, China, New Zealand
"And then that credit crunch, just as you said, would then slow down the economy." "The U.S. banking system is resilient, and it's sound," he said when asked about the stability of the banking system and its ability to control further risks seen in California and New York. "The banking system has a strong capital position and a lot of liquidity and has the full support of the Federal Reserve and other regulators standing behind it," said Kashkari. "I'm not saying that all of the stresses are behind us, I expect this process will take some time. But fundamentally, the banking system is sound," he said.
The Reserve Bank of Australia is expected to hike its overnight cash rate by 25 basis points to 3.6%, according to economists surveyed by Reuters. That would mark the highest rate since June 2012, when Australia's cash rate stood at 3.75%. Matt Simpson, senior market analyst at City Index, noted the tone of the central bank's statement could determine how much further the RBA would hike rates to tame inflation. Pointing to the RBA's statement of needing further increases in rates "over the months ahead," Simpson said, "Any adjustments to the wording of this sentence could be the difference between one or two more hikes from here." "A further increase over the months ahead would suggests one more hike is to follow, with a terminal rate at 3.85%," he said.
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