July, 2016

• 18 July

  ECB to keep policy unchanged, experts predict

  

    Bloomberg Just like Mark Carney, Mario Draghi can afford to wait a bit before adding more monetary stimulus. Economists in a survey predict the European Central Bank president will keep policy unchanged on Thursday but announce fresh measures before the end of the year. The meeting comes a week after the Bank of England, headed by Carney, opted not ...

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• 18 July

  Post-Brexit UK needs range of stimulus, says BOE’s Vlieghe

  

    BLOOMBERG Gertjan Vlieghe, who was alone in voting for an interest-rate cut at the latest Bank of England meeting, said the UK needs a range of stimulus to combat the impact of its decision to quit the European Union. “The precise implications for the economy are uncertain, although the general direction of travel is likely to be lower growth ...

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• 18 July

  Firmer evidence needed for Aug rate cut: UK central bank

  

    BLOOMBERG Bank of England policy maker Martin Weale said he needs to see more evidence of the impact of the U.K.’s vote to leave the European Union before supporting additional stimulus at the central bank’s August meeting. BOE officials surprised markets and a majority of economists last week when they kept their key interest rate unchanged, and suggested they ...

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• 18 July

  PBOC sees ‘liquidity trap’ as companies hoard cash

  

    Bloomberg A senior official at China’s central bank said companies may be falling into a ‘liquidity trap’ and that the government still has room for to expand the fiscal deficit. Signs of a liquidity trap, economist-speak for when central bank cash injections into the economy fail to spur growth as monetary policy loses potency, are showing in businesses and ...

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• 18 July

  Developing Asian economies to grow 5.6 percent: ADB

  

    MANILA / AP The Asian Development Bank said on Monday it had cut its 2016 growth projection for developing economies in Asia and the Pacific to 5.6 percent, down from its earlier forecast of 5.7 percent, but added that the economies’ performance will remain solid and help offset softness from the US economy and near-term market shocks from Britain’s ...

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• 18 July

  Buy a London home, win a parking lot

  

    Bloomberg London homebuilders are offering to pay sales taxes, gift 20,000 pounds ($26,800) of furniture and the chance to win a free parking space as Britain’s vote to leave the European Union damps demand. Brexit will damage the UK economy and residential property values in London could fall by more than 30 percent, Societe Generale SA analysts including Marc ...

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• 18 July

  Yuan shakes as property prices slow

  

    Bloomberg China’s yuan extended losses in early trading to tumble to the weakest level since 2010, pulled down by cooling property prices, a dollar rebounding on haven demand and a weaker central bank fixing. New home prices rose in fewer cities in June compared with a month earlier, official data showed on Monday, raising concern that a real estate-supported ...

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• 18 July

  Home prices in Toronto gain most since 1989

  

    Bloomberg May was the biggest month for Toronto new home prices in 27 years. Prices in Canada’s largest metropolitan area rose 1.9 percent in May, and were up 6.4 percent from a year earlier. Nationally, home prices rose 0.7 percent in May, the largest monthly increase since 2007, Statistics Canada reported last week. The data adds to evidence that ...

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• 18 July

  Regulator warns commercial real estate

    Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp. — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

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• 18 July

  Property: Speck of cloud in JPMorgan’s silver lining

  

    Bloomberg At first glance, it’s hard to find much new to worry about in JPMorgan Chase’s second-quarter earnings report. Most of the important numbers beat estimates, although those estimates dropped like crazy before the report as the outlook for interest rates this year went from lower-for-not-much-longer to lower-for-who-knows-maybe-forever. Still, loan growth was robust and credit quality trends appeared to ...

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