March, 2019

• 27 March

  Moore calls for 50-point Fed interest rates cut

  Bloomberg Stephen Moore, who Donald Trump may nominate for a seat on the Federal Reserve Board, told the New York Times in an interview that the central bank should immediately reverse course and lower interest rates by half a percentage point. That’s a contrast from language used by sitting board members in recent days. San Francisco President Mary Daly told …

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• 27 March

  ‘ECB may need to soften impact of negative rates’

  

  Bloomberg Mario Draghi said the European Central Bank (ECB) is ready to soften the impact of negative interest rates if they are found to harm the transmission of its monetary policy. “If necessary, we need to reflect on possible measures that can preserve the favorable implications of negative rates for the economy, while mitigating the side effects, if any,” the …

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• 27 March

  PBOC may turn less dovish in 2019

  

  Bloomberg The People’s Bank of China (PBOC) is expected to ease policy less aggressively in 2019 compared with the previous year, while maintaining steady injections of liquidity, according to analysts. The PBOC will continue to reduce the amount of money lenders have to put aside as reserves, with the earliest cut taking place next quarter and two others in the …

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• 27 March

  New Zealand joins global shift away from high rates

  

  Bloomberg New Zealand’s central bank joined the global shift away from higher interest rates, saying its next move is more likely to be a cut and sending the kiwi dollar tumbling by the most in seven weeks. “Given the weaker global economic outlook and reduced momentum in domestic spe-nding, the more likely direction of our next OCR move is down,” …

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• 27 March

  Hong Kong grants licenses to virtual banks

  

  Bloomberg Hong Kong’s traditional banks are set to face one of their biggest challenges yet: a new breed of financial technology firms estimated to snare as much as 30 percent of their revenue. The Hong Kong Monetary Authority has granted three virtual bank licenses and is processing five more, Deputy Chief Executive Arthur Yuen said in a briefing on Wednesday. …

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• 27 March

  Malaysia central bank vows support as GDP forecast cut

  Bloomberg Malaysia lowered its economic growth forecast for 2019, and pledged to keep policy accommodative as global risks weigh on the trade-reliant economy. Gross domestic product is expected to increase 4.3 percent to 4.8 percent in 2019, with trade tensions and lower commodity prices among the biggest wildcards, Bank Negara Malaysia said in its annual report on Wednesday. The projection …

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• 27 March

  Deutsche Bank hires SCB’s Suntichok as Thailand head

  Bloomberg Deutsche Bank AG has hired Siam Commercial Bank (SCB) Pcl’s Pimolpa Suntichok to head its business in Thailand, according to people with knowledge of the matter. She will join the German lender in May as chief country officer and head of the financing and solutions group for Thailand, one of the people said, asking not to be identified because …

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• 27 March

  Boeing launches campaign to restore faith in 737 Max

  

  Bloomberg After two deadly crashes in five months, Boeing Co is embarking on a campaign to restore confidence in the 737 Max so that its best-selling jet can return to the skies. In Renton, Washington, the company was expected to gather customers and news media to walk through the details of a software update designed to help pilots more easily …

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• 27 March

  Tata, GIC buy $1.2bn stake in New Delhi’s airport operator

  

  Bloomberg A consortium of India’s Tata Group, a unit of Singapore’s sovereign wealth fund GIC and SSG Capital Management will invest 80 billion rupees ($1.2 billion) to buy a stake in GMR Airports Ltd, which runs India’s biggest airport. The deal will pump 10 billion rupees into GMR Airports, a unit of GMR Infrastructure Ltd and purchase 70 billion rupees …

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• 27 March

  Cathay enters no-frills market with Hong Kong Express deal

  

  Bloomberg Cathay Pacific Airways Ltd agreed to pay $287 million in cash for Hong Kong’s only budget airline to enter the no-frills market, after more than a decade resisting such a move to focus on premium services. Cathay plans to operate Hong Kong Express Airways, part of HNA Group, as a standalone carrier after the transaction is completed by December …

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