DIRS.INFO The most relevant business & tech news

☆ Thai c.bank to raise rates 25 bps, tourism to bolster growth: Reuters poll
▼ + stars: | 2023-01-23 | by ( Devayani Sathyan | ) www.reuters.com time to read: +3 min

Unlike its neighbours in Malaysia and Indonesia, The Bank of Thailand (BOT) is expected to keep tightening policy for awhile longer. Twenty-one of 23 economists polled by Reuters expected the BOT to raise its benchmark one-day repurchase rate (THCBIR=ECI) by 25 basis points (bps) to 1.50% on Jan. 25. This gives the BOT room to continue hiking rates, to continue anchoring inflation expectations." The poll median showed the central bank would then raise borrowing costs by another 25 bps, taking it to 2.00% by end-September. "The combination of improving growth prospects and still-elevated inflation gives the central bank room to continue reducing policy accommodation."

☆ European Central Bank to raise deposit rate to 3.25% by mid-year - Reuters poll
▼ + stars: | 2023-01-23 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

ECB President Christine Lagarde and her Governing Council will take the deposit rate to 2.50% on Feb. 2, said 55 of 59 economists in the Jan. 13-20 poll. The central bank will then add 25 basis points next quarter before pausing, giving a terminal rate in the current cycle of 3.25%, its highest since late 2008. In December's poll, the rate was put at 2.50% at end-March and was seen topping out at 2.75%. Reuters Poll - ECB deposit rate outlookAsked how the risks were skewed to their terminal deposit rate forecasts, over two-thirds of respondents, 23 of 33, said it was more likely it ends higher rather than lower than they currently expect. The refinancing rate was expected to rise 50 basis points to 3.00% next week and reach a peak of 3.50% in March.

☆ BoC to raise rates by 25 bps to peak of 4.50% on Jan. 25
▼ + stars: | 2023-01-20 | by ( Swathi Nair | ) www.reuters.com time to read: +3 min

A strong majority of 90% of economists, 26 of 29, expected a quarter-point rise on Jan. 25 to 4.50%, according to a Jan. 17-20 Reuters poll, in line with interest rate futures. The BoC has hiked rates by a cumulative 400 basis points since March 2022. "Rather than raise interest rates much further, the bigger risk to our policy rate forecasts is that the Bank will probably keep rates high for longer than we currently assume." The BoC is then expected to keep its overnight rate on hold at 4.50% for the remainder of the year, poll medians showed. That is in line with a recent BoC survey which showed most firms now think a recession is likely.

☆ Fed to deliver two 25-basis-point hikes in Q1, followed by long pause
▼ + stars: | 2023-01-20 | by ( Prerana Bhat | ) www.reuters.com time to read: +4 min

Fed officials broadly agree the U.S. central bank should slow the pace of tightening to assess the impact of the rate hikes. The Fed raised its benchmark overnight interest rate by 425 basis points last year, with the bulk of the tightening coming in 75- and 50-basis-point moves. If realized, that would take the policy rate - the federal funds rate - to the 4.50%-4.75% range. The fed funds rate was expected to peak at 4.75%-5.00% in March, according to 61 of 90 economists. Reuters Poll- U.S. Federal Reserve outlookIn the meantime, the Fed is more likely to help push the economy into a recession than not.

☆ For this company, decorating Park Avenue for Christmas is a family tradition
▼ + stars: | 2022-12-18 | by ( Molly Kaiser | ) www.cnbc.com time to read: +4 min

The business has maintained the avenue's grassy medians – known as the Park Avenue Malls – for 50 years. Christmas tress installed by City-Scape Landscaping on Park Avenue in New York. "I don't think Park Avenue would have quite the same glamour if the median walls weren't in place," said Vincent Sofield's son, Dylan. "It's people's front yard, front gardens along Park Avenue," said the group's president, Barbara McLaughlin. Christmas tress installed by City-Scape Landscaping on Park Avenue in New York.

☆ Bank of England to add 50 bps to Bank Rate on Dec. 15; peak at 4.25% in Q2: Reuters poll
▼ + stars: | 2022-12-08 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

"We think it will be a 50 bp rise, taking Bank Rate to 3.50%, with risks weighted towards a larger 75 bp move, rather than a smaller 25 bp one." Only two economists expected a 75 bp increase next week compared to 13 of 56 in the Nov. 23 poll. The U.S. Federal Reserve is also expected to shift down to a 50 bp move this month after four consecutive 75 bp increases, a separate Reuters poll found. After next week's move, the BoE will add another 50 bps in the first quarter and 25 bps in the second, with medians showing Bank Rate peaking at 4.25% then. In last month's survey, Bank Rate was expected to peak at 4.25% next quarter and there was a big divide between economists in the latest survey as to when and where it would level out.

☆ Global economy approaching a recession, central banks unchained: Reuters poll
▼ + stars: | 2022-10-26 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

BENGALURU, Oct 26 (Reuters) - The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down persistently-high inflation. After being late to call the inflation problem, global central banks have spent most of this year frontloading rate hikes to catch up. Most economists and central banks are of the view there will be little work left to do next year. Michael Every, global strategist at Rabobank, said "risk of a global recession" is what everyone's talking about and has become mainstream in forecasts. Reuters Poll - Terminal rate outlookOf the 22 central banks polled this time, only six were expected to hit their inflation targets by the end of next year.

☆ Bank of England to hike by 75 bps on Nov. 3 but may go bigger
▼ + stars: | 2022-10-25 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

Annual price rises were expected to peak at 10.4% this quarter, the poll showed, before gradually declining, but won't fall to target until at least 2025. The median forecast in the Oct. 18-25 poll showed the BoE would take Bank Rate up by 75 bps to 3.00% next week. But while that was a view held by 18 of 30 respondents, 10 expected 100 bps, one said 125 bps and one said 150. It was then expected to add another 75 bps in December and 50 bps next quarter before pausing, meaning rates would peak at 4.25% in the current cycle. Both the European Central Bank and the U.S. Federal Reserve are expected to deliver 75-bps increases at their next meetings.

☆ India's economic growth outlook stagnates, stuck in lower gear
▼ + stars: | 2022-10-20 | by ( Vivek Mishra | ) www.reuters.com time to read: +4 min

It was expected to decelerate further to 4.4% in the fourth quarter, according to an Oct. 13-19 Reuters poll. Register now for FREE unlimited access to Reuters.com RegisterThe median expectation was for 6.9% growth in the 2022-23 fiscal year, slightly above International Monetary Fund (IMF) and World Bank projections of 6.8%. While those figures were only trimmed from the previous poll medians, a deteriorating global economic outlook suggests there may be further downgrades in coming months. "This, we believe, will result in the RBI having to shift its focus toward supporting growth and away from anchoring inflation expectations by engineering a growth slowdown." The poll showed the RBI taking a softer approach with rates.

☆ Citi exceeded its 2022 goals to make leadership more diverse. A top exec explains what the firm is focused on next.
▼ + stars: | 2022-09-20 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +4 min

In June 2021, Citi hired Erika Irish Brown to lead diversity and inclusion at the firm. Since then, Citi exceeded its goals to increase Black and female leadership. "As proud as we are of our representation goals, it's just one tool in the toolkit," Brown told Insider. "We have very specific development and retention programs for mid-level Black employees as well as women," Brown said. For Brown, diversity and inclusion isn't a one-department job; it's a company-wide priority.

Search resuls for: "medians"

10 mentions found