Reserve Requirements News
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Brazil’s consumer-loan default rate fell for the fourth straight month in April as borrowing costs declined in a move that may stimulate banks to boost lending.
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Turkey’s bonds rallied, sending yields to all-time lows, after Moody’s Investors Service raised the country to investment grade for the first time in two decades, fueling expectation of capital inflows. The lira weakened on speculation the central bank will cut rates.
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Turkey’s central bank cut its three main interest rates by more than economists expected, as it seeks to restrain capital inflows that strengthen the currency and hurt exporters. The lira fell to a 10-month low.
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Turkey’s central bank published the following statement on its website today.
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Most emerging-market stocks rose, led by health-care and consumer shares, as India’s benchmark measure surged to the highest level in more than two years.
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Peru’s sol slumped the most in two years after a report showed economic growth slowed in March more than analysts forecast.
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Swedish Finance Minister Anders Borg said banks in the largest Nordic economy are taking too long to wean themselves off foreign funding as he warns the financial industry will need to pay for the risks it’s creating.
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Peru’s central bank kept borrowing costs unchanged for a 24th straight month as policy makers expect inflation to converge to the mid-point of their target amid near-potential economic growth.
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The Dominican Republic said it will free up 20 billion pesos ($487 million) to stimulate growth by lowering reserve requirements and expanding loans to companies and consumers in the Caribbean’s largest economy.
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China’s consumer inflation stayed subdued in April while the decline in factory-gate price declines deepened, adding to evidence of softer demand and giving the government room to raise utility fees.
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