Czechs to Cut Rates as Outlook Gets More Hawkish
The Czech Republic is poised to cut interest rates by another half of a percentage point, but a nascent economic recovery and sticky inflation may slow monetary easing in the following months.
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The Czech Republic is poised to cut interest rates by another half of a percentage point, but a nascent economic recovery and sticky inflation may slow monetary easing in the following months.
Hong Kong’s world-beating stock rally is showing no signs of letting up even with Chinese investors, a key buying force, out of action.
National Australia Bank Ltd. shares inched higher after plans to buy back A$1.5 billion ($1 billion) more of its own stock, as profit at the lender met expectations and Chief Executive Officer Andrew Irvine said the economic outlook remains resilient.
The resilience of corporate Australia to rising interest rates has taken traders and economists by surprise in recent months. Now, the boss of the country’s biggest lender to businesses says he’s been caught out too.
Lending to UK commercial real estate dropped by a third last year to the lowest in a decade as deal volumes tumbled and banks turned cautious.
Oct 22, 2021
Bloomberg News
,(Bloomberg) -- China Evergrande Group’s payment of interest on a dollar bond is positive news for debt holders, but uncertainties remain on whether the distressed developer can secure cash for looming repayments, according to analysts.
Shares of the firm advanced as much as 7.8% in Hong Kong after the developer wired $83.5 million in a bond coupon payment ahead of this weekend’s deadline. Still, Evergrande needs to pay interest on another four dollar notes this year and has a hefty wall of maturing debt next year.
“We have seen this before,” said Justin Tang, head of Asian research at United First Partners in Singapore, referring to Evergrande’s interest payment. This “does not solve the company’s problem, and does not change the fact that it is the living dead.”
READ: Evergrande Avoids Default With Last-Minute Bond Interest Payment
Here’s what other analysts are saying:
IG Asia Pte. (Jun Rong Yeap)
Ceb International Inv. Corp. (Banny Lam)
ANZ Banking Group Ltd. (Ting Meng)
Barings LLC (Omotunde Lawal)
DBS Bank Ltd. (Chang Wei Liang)
Kamet Capital Partners Pte. (Derek Tay):
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