Trading Floors Buzz With Excitement as BOJ Axes Negative Rates
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
Latest Videos
The information you requested is not available at this time, please check back again soon.
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
China Evergrande Group’s alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.
Vietnamese prosecutors sought the death penalty for real estate tycoon Truong My Lan, indicted in a $12 billion fraud case for her role in bribing government officials, violating bank lending rules and embezzling funds, VnExpress news website reported.
Japan’s real estate shares were the biggest winners on Tuesday after a widely expected move by the Bank of Japan to end its negative rates regime, with investors focusing on the dovish tone by the central bank and the inflation outlook.
The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
Feb 19, 2021
Bloomberg News
,Canadians binged on mortgage debt last year, increasing borrowing at the fastest pace in a decade to buy homes.
Residential mortgage credit rose 7.7 per cent in 2020 to $1.7 trillion representing an annual increase of $118 billion, according to data released Friday by Statistics Canada. That’s the fastest yearly growth of such loans since 2010, far above the 5.4 per cent yearly growth average over the past decade. It also represents the first time ever that outstanding mortgage debt has increased by more than $100 billion in one year.
The acceleration in borrowing has been driven by historically low interest rates, adding pressure to Canada’s red-hot real estate market that has fueled sharp price gains across the country.
Excluding mortgages, however, credit actually fell in 2020 for the first time on record dating back to the early 1990s, declining by 1.5 per cent. That was due in part to generous government support programs rolled out during the pandemic, as well as restrictions that limited shopping and travel.
Overall credit to households -- mortgage and non-mortgage -- rose at a 4.5 per cent pace, about average over the past decade.