Can Brazil battle its economic headwinds?

“Should Brazil’s inflation, slowing economic growth and the political risk put investors off? Not necessarily, according to one Latin America analyst. “I think the long-term fundamentals in the country are still quite good, when you’re looking ahead five to 10 years. It’s not just about the growth rate, it’s about the markets and where the […]

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Sterling to go plastic, Bank of England decides

The Bank of England will announce plans on Wednesday to press ahead with switching to plastic banknotes, starting with the new Sir Winston Churchill £5 note in 2016. The decision on polymer notes will mark the beginning of the end for 320 years of paper notes from the Bank. The move by Threadneedle Street follows Bank governor Mark […]

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World Bank Sees Record Demand for Political Risk Insurance

Investors’ demand for insurance against political risk is on track to match last year’s record as instability persists in the Middle East and disputes in Latin America erode confidence, the World Bank said. Investment insurance for developing economies by a group of the main public, private and multilateral providers reached $45 billion by mid-2013, according to the bank’s Multilateral Investment Guarantee […]

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ECB Keeps Rate at Record Low as Officials Weigh Forecasts

he European Central Bank kept its benchmark rate unchanged at a record low after policy makers assessed new economic forecasts. The Governing Council meeting in Frankfurt today left the main refinancing rate at 0.25 percent after cutting it by a quarter point last month. The decision was predicted by all 60 economists in a Bloomberg survey. […]

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China Gold Imports From Hong Kong Rise on Stockpiling

Gold shipments to China from Hong Kong rose in October to the second-highest on record as jewelers and retailers bought the metal to build up inventories ahead of a peak-demand season at the end of the year. Net imports, after deducting flows from China into Hong Kong, were 129.9 metric tons in October, from 109.4 tons in […]

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China to Start Gold Swaps Trading to Further Liberalize Market

China, on track to overtake India as the world’s largest gold consumer this year, will start interbank swaps trading next week in a move to further open up the domestic precious metals market. Trading will start Nov. 25 on the Shanghai-based China Foreign Exchange Trade System, according to a statement by the National Interbank Funding Center today. The Shanghai […]

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BOE Sees Case for Keeping Record-Low Rate Beyond 7% Jobless

Bank of England officials voted unanimously to keep policy unchanged this month and said a record-low interest rate may be needed even after unemployment falls to the threshold set under forward guidance. “There were uncertainties over the durability of the recovery,” the Monetary Policy Committee said in the minutes of its Nov. 6-7 meeting, published in London today. “With the […]

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Gold Vault Opens in China as Bullion Goes From West to East

A gold vault that can store 2,000 metric tons, double China’s projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia’s largest economy. The facility is the biggest for the Hong Kong-based company, and it can also store diamonds, jewelry and art, Joshua Rotbart, […]

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BOJ Struggles to Convince on 2% as Abenomics Shine Fades

Half a year after Bank of Japan Governor Haruhiko Kuroda unleashed record monetary easing, economists see the bank failing to meet its inflation target, underscoring the case for stronger steps to revive the economy. While the median estimate of BOJ board members released last week showed the bank expects consumer prices to rise 1.9 percent in the 2015 fiscal […]

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Fed Seen Avoiding Historic Loss by Holding Mortgage Debt

“The Federal Reserve can avoid unprecedented losses by never selling mortgage-backed securities from its record $3.84 trillion balance sheet, according to updated estimates by Fed economists in Washington. The Fed every month is purchasing $85 billion in Treasuries and mortgage-backed securities in a program aimed at fueling economic growth and combating unemployment, which was 7.2 percent in September.”   […]

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