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☆ China reaffirms zero-COVID stance, city of Guangzhou on edge
▼ + stars: | 2022-11-10 | by ( Tony Munroe | ) www.reuters.com time to read: +5 min

[1/3] A boy gets tested for the coronavirus disease (COVID-19) at a nucleic acid testing site, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 9, 2022. "As things stand, it is hard to tell whether Guangzhou will repeat the experience of Shanghai in spring this year. If Guangzhou repeats what Shanghai did in spring, it will lead to a new round of pessimism on China," Nomura analysts wrote in a Thursday note. Mason Long, who works for a Guangzhou gaming company, said some residents were bracing for a lockdown, with many leaving the city or planning to. BE MORE TARGETEDIn Beijing, residents of some areas have been asked to get COVID tests every day this week.

☆ US consumers borrowed $25 billion more in September
▼ + stars: | 2022-11-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN Business —American consumers borrowed another $25 billion in September, according to newly released Federal Reserve data, as higher costs led to further dependence on credit cards and other loans. “Generally speaking with cards, it’s getting harder to get a credit card,” Schulz said in an interview with CNN Business. According to the October 2022 senior loan officer opinion survey, standards tightened for approval of credit card loans while demand increased. That’s likely showing up in this consumer credit data, he said. “Any time you have credit card debt growth, it can either be a sign of confidence or a sign of struggle — it’s usually both,” he said.

☆ Nepal’s Oli vows balanced ties with China, India if returned to power
▼ + stars: | 2022-11-04 | by ( Gopal Sharma | ) www.reuters.com time to read: +3 min

KATHMANDU, Nov 4 (Reuters) - Nepal's main communist opposition party will balance the Himalayan nation's ties with neighbours China and India for mutual benefit if it is returned to power in a general election this month, its leader said. India, Nepal’s biggest trade and economic partner, sees it as a natural ally and has invested billions of dollars in its infrastructure. Sharma Oli, a two-time former prime minister and president of opposition Communist Party of Nepal (Unified Marxist-Leninist), or UML, told Reuters in an interview on Wednesday. Our foreign policy will be based on mutual benefits and mutual respect,” Oli said as he sat in his office. "The high interest rates are not helpful to businesses and industries," Oli said, vowing to cut rates if returned to power.

☆ What rising interest rates mean for your credit, loans, savings and more
▼ + stars: | 2022-11-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

“Interest rates have increased at the fastest pace in 40 years,” said Greg McBride, chief financial analyst at Bankrate.com. They’re offering far higher rates – with some topping 3% currently – and have been increasing them as benchmark rates go higher. At the most recent auction in October, for instance, the 5-year TIPS had an interest rate of 1.625%. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year, jumping more than three percentage points. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up.

☆ Euro zone credit growth rises again, despite gloomy outlook
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang RattayFRANKFURT, Oct 26 (Reuters) - Bank lending to euro zone companies accelerated further in September, extending the sector's biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central Bank data showed on Wednesday. Household credit growth meanwhile slowed to 4.4% from 4.5%, fresh data showed. Credit growth has been robust this year even as banks tightened access to funds, partly reflecting firms’ increased need for liquidity to cover inflated energy costs. read moreGrowth in the M3 measure of money circulating in the euro zone, meanwhile, accelerated to 6.3% from 6.1%, outpacing expectations for 6.1% in a Reuters survey.

Workers work at a construction site, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, October 14, 2022. On a quarterly basis, GDP rose 3.9% in the third quarter, versus a revised drop of 2.7% in April-June and an expected 3.5% rise. The data was originally scheduled for release on Oct. 18 but was delayed amid the key Communist Party Congress last week. New bank lending in China nearly doubled in September from the previous month and far exceeded expectations, helped by central bank efforts to revive the economy. "On the policy front, the overall policy will remain supportive," said Hao Zhou, chief economist at Guotai Junan International.

☆ China Q3 GDP growth rebounds at faster pace but risks loom
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

People walk by office towers in the Lujiazui financial district of Shanghai, China October 17, 2022. Gross domestic product (GDP) in the world's second-biggest economy rose 3.9% in the July-September quarter year-on-year, official data showed on Monday, above the 3.4% pace forecast in a Reuters poll of analysts, and quickening from the 0.4% pace in the second quarter. A Reuters poll forecast China's growth to slow to 3.2% in 2022, far below the official target of around 5.5%, marking one of the worst performances in almost half a century. On a quarterly basis, GDP rose 3.9% in the third quarter, versus a forecast 3.5% gain and a 2.6% decline in the previous quarter. But retail sales remained weak, rising 2.5%, worse than expectations for 3.3% rise and 5.4% growth in August.

HONG KONG, Oct 18 (Reuters Breakingviews) - It’s mid-afternoon Monday in Beijing and a simple question is doing the rounds: will China’s latest GDP figures be published as scheduled the next day? A day later, there’s still no sign of when the data will land, nor any clear explanation. It invites speculation that the numbers show the economy is in bad shape and are being kept under wraps so they don’t steal the thunder of the ruling Communist Party’s twice-a-decade congress, which began on Sunday. The delay came amid the twice-a-decade congress of the ruling Communist Party which runs from Oct. 16 to 22. Register now for FREE unlimited access to Reuters.com RegisterEditing by Antony Currie and Thomas ShumOur Standards: The Thomson Reuters Trust Principles.

☆ China Q3 growth seen bouncing 3.4%, but 2022 set for worst performance in decades
▼ + stars: | 2022-10-14 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

Growth is expected to pick up to 3.8% in the fourth quarter, bringing the 2022 pace to 3.2%, far below the official target of around 5.5%. Investors will look for policy signals from a historic congress of the ruling Communist Party due to start on Sunday. The expected 2022 growth would be lower than 4.0% analysts had forecast in a Reuters poll in July and 5.0% in April's forecast. The government is due to release third-quarter GDP data, along with Sept. activity data, on October 18 at 0200 GMT. Economic growth is forecast to quicken to 5.0% in 2023.

☆ China seen partially rolling over policy loans at steady rate - Reuters poll
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

But some still expect the People's Bank of China (PBOC) to ease banks' reserve requirements next month, to aid an economy hit by the COVID-19 pandemic and property market woes. Most of the 27 participants in the poll conducted this week said they predicted the PBOC will partially renew 50 billion yuan ($6.98 billion) worth of policy loans that mature on Saturday. Traders point out that China's banking system is not short of cash - evidenced by the fact that market rates are lower than policy rates, curbing demand for central bank loans. "We don't expect policy rate cuts until pressure on the currency eases," wrote Zichun Huang, an economist at Capital Economics. Zhou Maohua, analyst at China Everbright Bank, said September's robust credit expansion also made monetary easing less urgent.

☆ South Korean household loans shrink sharply in Sept as rates rise
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

SEOUL, Oct 13 (Reuters) - South Korean households' loans from banks fell by the biggest amount in more than a year in September amid rising interest rates and an extended property market slowdown, further clouding the outlook for Asia's fourth-largest economy. Bank lending to households, including policy mortgage loans, shrank 1.2 trillion won ($840.96 million) in September, after a 0.3 trillion won gain in August, according to Bank of Korea data on Thursday. Growth in housing mortgage loans slowed to 0.9 trillion won, from 1.6 trillion won in the previous month, while other lending decreased by 2.1 trillion won, led by credit loans. South Korea's central bank has been aggressive in raising interest rates since August last year to tame the world's highest household debt and surging inflation. read moreThe country's property market has abruptly gone from sizzling hot to floundering.

☆ Morning Bid: The final countdown
▼ + stars: | 2022-10-12 | by ( Nidal Al-Mughrabi | Ahmed Mohamed Hassan | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterFor some, it will be new territory. For all of them, being forced to spend billions of dollars of FX reserves is uncomfortable territory. A strong U.S. inflation print will likely push it even higher, intensifying the battle-ready resolve of central banks around the world. Cross-currency basis swaps, essentially a measure of dollar shortage and overall stress in the market, are at alarming levels. U.S. Treasury Secretary Janet Yellen said on Tuesday she sees no signs of stress or undue volatility in financial markets.

☆ China new bank lending nearly doubles after central bank help
▼ + stars: | 2022-10-11 | by ( Judy Hua | Kevin Yao | ) www.reuters.com time to read: +4 min

FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Analysts polled by Reuters had predicted new yuan loans would rise to 1.80 trillion yuan in September. New yuan loans totalled 18.08 trillion yuan in the first nine months, rising 1.36 trillion yuan from a year earlier, central bank data showed. Broad M2 money supply in September grew 12.1% from a year earlier, central bank data showed, in line with analysts’ forecasts in a Reuters poll. In September, TSF rose to 3.53 trillion yuan from 2.43 trillion yuan in August.

☆ Here's why U.S. fiscal policy is undermining the Fed's aggressive efforts to fight inflation
▼ + stars: | 2022-09-23 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Central bank tightening — under the umbrella of monetary policy — is only one side of the equation when it comes to managing inflation. The other is fiscal policy, which is controlled by lawmakers in Congress. Coordinated fiscal- and monetary policy can have a compounding effect in stamping out inflation. But given that U.S. fiscal policy is not acting in concert with monetary policy, the Fed's efforts to bring down inflation have become all the more complicated. In the years since the 2007-2009 global financial crisis, expansionary fiscal policy — and monetary policy for that matter — has not posed much of a problem due to overall low inflation.

☆ What rising interest rates mean for you
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | Cnn Business | ) edition.cnn.com time to read: +11 min

"Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Here are a few ways to situate your money so that you can benefit from rising rates, and protect yourself from their downside. "Less debt and more savings will enable you to better weather rising interest rates, and is especially valuable if the economy sours." That said, "don't jump into a large purchase that isn't right for you just because interest rates might go up. "It's not just rising rates and inflation, there are geopolitical concerns going on... And we have a slowdown that may lead to a recession or maybe it won't...

☆ What rising interest rates mean for your credit, loans, saving and more
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

“Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year, jumping more than three percentage points. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up. For example, financial service companies can do well in a rising rate environment because, among other things, they can make more money on loans. Bonds: Go shortTo the extent you already own bonds, the prices on your bonds will fall in a rising rate environment.

☆ NY Attorney General files lawsuit against Donald Trump, the Trump Organization and his family
▼ + stars: | 2022-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNY Attorney General files lawsuit against Donald Trump, the Trump Organization and his familyNY Attorney General files a lawsuit against Donald Trump and family for violating state and federal law with a fraud scheme that falsely inflated Trump's net-worth to induce bank lending and lower taxation.

☆ How to take advantage of rising interest rates
▼ + stars: | 2022-07-27 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +10 min

Here are a few ways to situate your money so that you can benefit from rising rates, and protect yourself from their downside. Otherwise, any remaining balance will be subject to a new interest rate that could be higher than you had before if rates continue to rise. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up. Bonds: Go shortTo the extent you already own bonds, the prices on your bonds will fall in a rising rate environment.

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