March, 2021

• 28 March

  China’s central bank estimates potential growth of under 6%

  

  Bloomberg China’s central bank estimated the maximum the economy can expand without fueling inflation, known as the potential growth rate, is under 6% in the next five years. In a working paper, the statistics department of the People’s Bank of China (PBOC) said potential growth was projected at 5%-5.7% in the period covering the government’s latest five-year plan through 2025. …

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• 28 March

  Colombia central bank holds key rate at 1.75%

  Bloomberg Colombia’s central bank voted unanimously to reject arguments for more stimulus, ending the split between board members seen at the previous two monetary policy meetings. The bank held its key interest rate at a record low of 1.75% for a sixth straight month, in line with expectations. At the December and January meetings, a minority of two policy makers …

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• 28 March

  Bank of Korea governor sees no rate hike rush

  

  Bloomberg Bank of Korea (BOK) governor Lee Ju-yeol said he expects faster inflation and economic growth this year, but dismissed the view that the central bank needs to tighten policy early to tackle rising financial risks. In comments, Lee pointed to improving exports and investment, along with an extra budget pending parliamentary approval, as factors likely to drive economic growth …

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• 28 March

  BOE’s divisions resurface on UK economic outlook

  

  Bloomberg With confidence growing that a recovery is just around the corner in the UK, divisions are hardening at the Bank of England (BOE) over how the economy will unfold. Those splits were on display in a series of appearances by members of the Monetary Policy Committee. They pit BOE Chief Economist Andy Haldane, who believes Britain is set for …

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• 28 March

  DBS to give up Hong Kong office space

  Bloomberg DBS Group Holdings Ltd is set to join UBS Group AG and other global banks giving up office space in pricey Hong Kong with so many staff still working from home. DBS is surrendering some floors in Swire Properties Ltd.’s One Island East tower in Quarry Bay. The lender will release two of the eight floors it currently occupies. …

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• 28 March

  Goldman sold $10.5 billion of stocks in block-trade spree

  

  Bloomberg Goldman Sachs Group Inc. liquidated $10.5 billion worth of stocks in block trades, part of an extraordinary spree of selling that erased $35 billion from the values of bellwether stocks ranging from Chinese technology giants to US media conglomerates. The Wall Street bank sold $6.6 billion worth of shares of Baidu Inc., Tencent Music Entertainment Group and Vipshop Holdings …

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• 28 March

  Sizzling Asia value rally has fund managers hunting for gems

  

  Bloomberg There are superlatives aplenty for the fierce comeback of Asia’s value stocks this quarter: They’re set to trounce growth peers by the most in two decades. Finance shares bested all other sectors. Last year’s abandoned market, Singapore, is now an investor darling. Even as some pockets no longer look cheap, value-focused investors say money can still be made from …

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• 28 March

  Oil’s most volatile week in months ends with a whimper

  

  Bloomberg Oil in New York barely nudged this week despite whipsawing over several days, as renewed lockdowns in some regions blunted near-term demand outlooks and muted the impact of a standstill at the Suez. West Texas Intermediate futures fall less than 1% to close the week at $60.97, while Brent crude just barely eked out a gain, snapping a streak …

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• 28 March

  China hits back at US, Canada with sanctions

  

  Bloomberg A quarrel over allegations of human-rights abuses in China worsened as Beijing announced retaliatory sanctions on individuals in US and Canada and corporate fallout spread. Tensions have flared over reports of forced labour being used to harvest cotton in China’s western province of Xinjiang, accusations that Beijing routinely dismisses as politically motivated lies. On Saturday, China’s Foreign Ministry announced …

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• 28 March

  US condemns attacks against Saudi Arabia

  WASHINGTON / WAM The United States strongly condemned the attacks against Saudi Arabia that struck an oil facility in Jazan. The actions by the Houthis are a clear provocation meant to perpetuate the conflict, Ned Price, Department Spokesperson said in a press statement. “This is the latest in a series of Houthi attempts to disrupt global energy supplies and threatens …

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