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☆ Instant View: China's economy slows sharply in Q4, 2022 growth one of the worst on record
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +10 min

As a result, the Chinese economic growth rate will be below the Chinese government's target of 5% plus." This could weigh on their potential economic growth in the mid-and long-term, and we really need to be paying attention to that." MARCO SUN, CHIEF FINANCIAL MARKET ANALYST, MUFG BANK (CHINA), SHANGHAI"China's Q4 and full-year 2022 GDP growth rates came in higher than expected. Economic growth will have to depend more on productivity growth, which is driven by government policies." IRIS PANG, GREATER CHINA ECONOMIST, ING, HONG KONG"The biggest surprise is the retail sales number, which is really a big beat...

☆ Nissan gets $1.44 bln green loan for zero-emission mobility investments
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 30 (Reuters) - Japan's Nissan Motor Co (7201.T) has signed a 200-billion-yen ($1.44 billion) green loan agreement to fund zero-emission mobility investments, the automaker said on Wednesday. The syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract periods of five and seven years, it said in a statement. The funds will be used for research and development of zero-emission vehicles, components for electric vehicles, and other carbon-neutral initiatives, Nissan added. ($1=138.5700 yen)Reporting by Rocky Swift; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $620 mln
▼ + stars: | 2022-11-24 | by ( Makiko Yamazaki | Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit BV (HC) for about 596 million euros ($621 million). The acquisitions will be made through main Mitsubishi UFJ banking arm MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. PPF, which had been looking at selling or taking on partners in some markets for the HC business, said in a statement it was the right time to pass the baton. A Mitsubishi UFJ executive said in a briefing that the lender would explore further acquisition opportunities in Southeast Asia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.

☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $596 mln
▼ + stars: | 2022-11-24 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The acquisitions will be made through Japanese unit MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. Home Credit (HC) is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner. read moreAfter the completion of the deal, Bank of Ayudhya will hold 75% of the shares of HC Philippines and 75% of the shares of HC Indonesia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.

☆ Everyone from the vet to the barber is hiking prices. And there’s no relief in sight
▼ + stars: | 2022-11-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

And that’s exactly where inflation can get “sticky,” meaning once prices for services rise they tend to remain at those levels for some time. “When you have strong price pressures in the services sector, they’re likely to last longer,” Nicaj said. That’s the risk that you also take as a business raising prices, because you may lose clients.”To Ryczko, it’s a strategic balancing act. Courtesy Genora Boykins and Sharon Owens“I don’t know of any goods that we are utilizing that haven’t increased in cost,” Boykins said. “Even if it doesn’t necessarily turn around, at least you don’t want [prices] to continue to escalate month after month after month.”

☆ China leaves lending benchmarks unchanged for 3rd straight month in Nov
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 21 (Reuters) - China kept its benchmark lending rates unchanged for the third straight month on Monday, as a weaker yuan and persistent capital outflows continued to limit Beijing's ability to ease monetary conditions to support the economy. As expected, the one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. The latest official data showed that overseas investors had sold their holdings of China's onshore bonds for a ninth straight month in October, the longest streak of outflows on record. "We think there's probability to lower the 5-year LPR in December due to the downturn in the property market," said Xing Zhaopeng, senior China strategist at ANZ. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

☆ Debt rules in Europe are changing. And that could have big repercussions in the bond markets
▼ + stars: | 2022-11-04 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

The euro zone is to discuss changing its fiscal rules - a task that could have market repercussions. Bloomberg | Bloomberg | Getty ImagesThe euro zone will soon reveal changes to its fiscal rules — a move that could have significant repercussions for government borrowing costs and the region's bond markets. At the same time, Germany and the Netherlands would blame the European Commission for not enforcing the rules with fines. "Interest burden on large public debt to GDP ratios is set to increase significantly in the years ahead. This means that in a optimal scenario, the fiscal rules will be changed from 2024 onward.

The Dutch Title Transfer Facility (TTF) is Europe's main benchmark for natural gas prices. In addition, intraday European gas prices even went negative at the start of the week — meaning that holders of natural gas paid buyers to take the cargo off their hands. Nikoline Bromander, analyst at consultancy Rystad Energy, said high output from wind power and political agreement within the EU on cooperative measures to reduce gas prices and consumption have contributed to lowering gas prices. Before Russia's invasion of Ukraine, the EU was obtaining about 40% of all its natural gas from Moscow. Several experts have warned that Europe's high storage levels were to a large extent achieved with Russian gas.

☆ China c.bank rolls over policy loans to maintain liquidity, keeps rate unchanged
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +3 min

The People's Bank of China (PBOC) kept the rate on 500 billion yuan ($69.6 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions at 2.75%, unchanged from the previous operation. Monday's liquidity injection was to "keep banking system liquidity reasonably ample" and to "fully meet financial institutional demand," the PBOC said in an online statement. In a poll of 27 market watchers conducted last week, all respondents forecast no change to the MLF rate, with the vast majority of them expecting a partial rollover. Widening policy divergence could risk yuan depreciation and capital outflows, despite inflationary pressure in China remaining largely benign by global standards. The MLF rate serves as a guide to the loan prime rate (LPR), which is scheduled for release on Thursday.

☆ Plunging pound pauses as investors await policy response
▼ + stars: | 2022-09-27 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

On Friday and again on Monday the pound plunged, finding a record low of $1.0327 as investors question Britain's economic gambit of unfunded tax cuts to spur growth. Sterling has dropped 5% since Thursday and 21% this year against a backdrop of an ever stronger dollar. As the pound fell on Monday, the dollar surged to new highs on the euro and many more. "Everyone's got this hope that the dollar is peaking and peaking and peaking, but it's just been far too premature," said Paul Mackel, global head of FX research at HSBC in Hong Kong. China's yuan also hit a 2-1/2 year low on Monday and was steady at 7.1639 on Tuesday.

☆ China's yuan ends at 28-month low despite fresh policy step, nears daily lower limit
▼ + stars: | 2022-09-26 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

SHANGHAI (Reuters) -China’s yuan finished domestic trading session at a new 28-month low against the dollar on Monday, near its downside trading limit, despite the central bank taking steps to rein in the currency’s weakness. FILE PHOTO: Chinese yuan banknotes are seen in this illustration picture taken April 25, 2022. However, the midpoint continued to come in much stronger than market projections for the 23rd straight trading session, traders and analysts said. The official daily midpoint fixing limits the onshore yuan to trade in a narrow range of 2% above or below, and Monday’s guidance kept the range to between 6.8892 and 7.1704. The onshore yuan hit an intraday low of 7.1690, 14 pips away from the lower end of the trading band.

☆ China's yuan hits 28-month low despite fresh policy step, nears daily down-limit
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

It was changing hands at 7.1662 at midday, 364 pips weaker than the previous late session close. read moreBy midday, the global dollar index hovered around its two-decade high of 113.996 at midday, while the offshore yuan was trading at 7.1704 per dollar. The yuan market at 0401 GMT:ONSHORE SPOT:Key indexes:*Divergence of the dollar/yuan exchange rate. Negative number indicates that spot yuan is trading stronger than the midpoint. The People's Bank of China (PBOC) allows the exchange rate to rise or fall 2 percent from official midpoint rate it sets each morning.

☆ China leaves lending benchmarks unchanged amid global rates squeeze
▼ + stars: | 2022-09-20 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

FILE PHOTO: People wearing face masks walk past the headquarters of Chinese central bank People's Bank of China (PBOC), April 4, 2020. The one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. The steady LPR fixings came after the People’s Bank of China (PBOC) last week left its medium-term policy rate unchanged, while draining some liquidity from the banking system. China lending ratesThe borrowing cost of the medium-term lending facility (MLF) serves as a guide to the LPR, and markets usually use the medium-term rate as a precursor to any changes to the lending benchmarks. Marco Sun, chief financial market analyst at MUFG Bank (China), said economic indicators surprised on the upside in August.

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