Weekly Global Financial News March 17-March 23

 

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China Doubles Yuan’s Trading Band Giving Market Greater Role. By Bloomberg, Published: March 17
http://bloom.bg/1g0VA6a
China widened Yuan’s trading ban to two percent from one percent amid growing worries over short-term speculators betting on the appreciation of Yuan and slowing economy. The landmark decision was made as the government pushed for revamping its financial system to be more market based and freer.

Yellen Pursuing Bernanke’s Fed Policies with More Direct Style, By Bloomberg, Published: March 21
http://bloom.bg/1kV4qSE
Federal Reserve Chair Janet Yellen’s direct comments on the timing of the first rate increase jolted the financial markets as stock and bond prices fell.

Russian Share Prices Drop as Sanctions Bite, By Financial Times, Published: March 21
http://on.ft.com/1iRbkZ2
US sanctions against President Vladimir Putin’s inner circle increased unpredictability for foreign investors in dealing with Russian companies

Low Inflation Gives Yellen Room to Retreat From Key Rate Outlook, By Bloomberg, Published: March 21
http://bloom.bg/1nQNXUe
Federal Reserve discarded 6.5% unemployment rate threshold for raising benchmark rate. Instead, inflation measure would be critically watched over as another guidance post.

Stocks may rise, but Ukraine could halt rally, By Reuters, Published: March 22
http://reut.rs/1poTCfx
Tensions in Ukraine and signs of weakness in the U.S. economy remain as vulnerability in the market.

China top leader reaffirms economic reforms, By Reuters, Published: March 22
http://reut.rs/1gNsv8M
Chinese vice Premier Zhang Gaoli pledged to liberalize interest rates and relax its holds on Yuan, an apparent move for China allowing bigger role to market forces.

Abe adviser warns on impact of tax hike, By Financial Times, Published: March 24
http://on.ft.com/NGDI3V
A close advisor to Shinzo Abe conveyed concerns over Japan losing its economic momentum in the wake of tax hikes.

Bokyung (Bella) Kim

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