DOCSLIB.ORG

| Page [email protected]

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
| Page Vedprajapati@Pace360.In Major News impacting Markets Monday, 20 April, 2020 -------------------------------------------------------------------------------------------------------------------------- -Major News impacting Markets -Key International Events/Results -Key Domestic Events/Results Major News impacting Market • Oil Tanks, Dampens Risk Appetites after Back-to-Back Weekly Equity Gains • Spanish economy could shrink up to 12.4% in 2020: Bank of Spain • Thai business council calls for government support to ease virus impact • Hong Kong's January-March unemployment rises to 4.2%, highest in more than nine years • Big funds demand UK Plc coronavirus cash calls recognize retail • Japan Boosts Extra Budget to 25.7 Trillion Yen to Fund Handouts • A $1.2 Trillion Fund Says Skip Earnings Season, Buy U.S. Stocks • China says India's new FDI rules violate WTO principles, hopes for revision • Buy Stocks at Crisis ‘Epicenter’ as Lows Are In, Top Bull Says • Demand For Oil Has Plummeted, But Industry Keeps Building New Infrastructure Anyway • Uranium Surges 31% Amid Shutdowns to Become Year’s Top Commodity • OPEC’s No.3 Scrambles For Lifeline As Oil Income Tanks • Italy Calls for Joint Bonds in Preview of EU Summit Clash • Coronavirus takes toll on global M&A as $1 billion deals disappear • Alibaba to Invest $28 Billion Over Three Years in Cloud Services • Citi Sees India’s Budget Gap Widening the Most in Three Decades • Mnuchin, Democrats Close on Virus Aid Deal Nearing $500 Billion • Piers Morgan says his friend President Trump is 'failing the American people' • Debt Relief for Poor Nations Not an Easy Sell to Bondholders • Bondholders Pan Argentina Restructuring Offer, Gird for Battle • Why Deflation Is Poison for Virus-Plagued Economies • Market Movers Blog: Government launches Future Fund to bolster UK start-ups • Australia Shouldn’t Worry About Huge Government Debt, RBA’s Lowe Says • China Pledges More Stimulus as Banks Cut Lending Rates • Donald Trump’s latest attack on China over coronavirus ‘highlights challenge in repairing relations’ • Beijing foreign affairs office in Hong Kong hits back at governments for criticising arrests of pro-democracy figures • Rupiah Gyrations to Keep Foreign Bond Bulls at Bay • Argentina’s Economy Minister Backs Wealth Tax, Rejects Austerity • Germany signals more help for struggling businesses, workers • Hong Kong reports zero new coronavirus cases for 1st time since early March • Brazil set to start QE cautiously but may need to bring out 'bazooka' • Japan to boost stimulus to $1.1 trillion as virus threatens deeper recession • Kuwait, UAE continue repatriation of nationals stranded overseas amid coronavirus pandemic https://pace360.in/1 | Page [email protected] Major News impacting Markets 20-Apr-20 • Market Devouring Record Gulf Bonds Won’t Touch Oman, Bahrain • Ireland's debt to GDP ratio falls below 60 pct for first time in decade • Japan's exports drop to 3.5 year low in March as overseas demand hit by virus • US oil prices crash to their lowest level in over 21 years as storage runs out • US markets haven’t priced in a ‘significant second wave’ of coronavirus, says Citi Private Bank • The National Debt And Gold • Russia to raise as much debt for budget as possible but not at every price: finance ministry • The Stock Market Is Certainly Not Too Big For The Fed To Handle • As Africa Groans Under Debt, It Casts Wary Eye at China • Earnings are set for their biggest dive since late 2009 — and it gets worse from here • Sebi may scan Cayman, Singapore investment hubs for Chinese links • DPIIT, Finance Ministry locked horns before tweak in FDI guidelines • RBI moratorium: 10% provisioning may shave Rs 35,000 cr off bank profits • Only half of India’s household consumption will come through post covid • RBI’s moves may not snap banks’ wariness to lend • PE investment in real estate falls 89% to $222 million in January-March: Report • RBI's measures may not get desired results; pain unlikely to go away for NBFCs • Another Recession Gauge Signals Longest U.S. Expansion Has Ended • Hasenstab’s Global Bond Fund Posts a $4.3 Billion Drop in Assets • At mercy of banks, India's cash-tight shadow lenders face new turmoil • India's new FDI rules may open new flashpoint with China • Qatar And Russia Fight For LNG Supremacy As Prices Fall To Historic Lows • South Africa economy to shrink 4.9% in 2020, SARB to cut rates in May: Reuters poll • Brazil growth, inflation, rates outlook sink to new lows: central bank survey • Fitch Downgrades Hong Kong as Pandemic Poses Economic Shock • Cash Flow Is King • Oil: Winter Is Coming In The Shale Patch • QE Infinity: The Fed And Treasury Race To $2 Trillion • How The S&P 500 Became So Overrated • Bottom-Calling Bets on $4.3 Billion ETF Go Bad Amid Oil Plunge Oil Tanks, Dampens Risk Oil prices have collapsed to start the new week. The May contract, which Appetites after Back-to-Back expires now, is off over 20% to a little more than $14 and the June contact is Weekly Equity Gains off nearly 7% near $23.30. Falling demand and limited storage space continue to overwhelm output cuts from OPEC+ that are to start next month. Equities are struggling to extend the first back-to-back weekly gain in two months. The Nikkei fell by over 1%, and Australia's benchmark was off early 2.5% (liquified natural gas is priced off oil). Europe's bourses are mixed, leaving the Dow Jones Stoxx 600 treading water, while the US shares are clearly lower, and the S&P 500 is off almost 1%. Core bond yields are a little softer, but what stands out is the jump in peripheral yields, led by a 10 bp jump in Italy. Spain and Portuguese yields are 3-4 bp higher. The US benchmark is sporting a softer yield near 62 bp. The US dollar is mixed. The oil sensitive currencies, like the Norwegian krone and Canadian dollar, are the weakest of the majors (~- 0.40%), while among emerging markets, the Mexican peso (~-1.5%) and Russian rouble (~-0.80%) are bearing the brunt. Gold is extending last week's decline below $1700 and found a bid near $1672. Read More … Go to top https://pace360.in/2 | Page [email protected] Major News impacting Markets 20-Apr-20 Spanish economy could shrink up Spain's economy should shrink between 6.8% and 12.4% this year depending to 12.4% in 2020: Bank of Spain on whether its lockdown over the coronavirus, first imposed in mid-March, lasts eight or 12 weeks, the Bank of Spain said on Monday as it charted various economic scenarios. The Spanish central bank said the disruption suffered by the Spanish economy was, as in the case of other countries, of "considerable severity", although there was still great uncertainty. In any case, an upturn is expected to begin in the second half of the year, leading to a "remarkable recovery" in 2021, with a projected growth of between 5.5% and 8.5%, it said. Read More … Go to top Thai business council calls for Thailand's business advisory council will urge the government on Monday to government support to ease virus deploy support measures for farmers and small- and medium-sized businesses impact as the coronavirus pandemic drives Southeast Asia's second-largest economy toward a recession. The central bank has forecast the economy to shrink 5.3% this year for its the weakest performance since the 1998 Asian financial crisis, as the pandemic could bring losses of more than $40 billion and up to 10 million jobs.. Key steps include cash handouts of 15,000 baht ($461.82) for each farm household, a one-year moratorium on debt, and a fund of 50 billion baht to boost farm output, the panel of government and business agencies said in a statement. It will also push for lower social security contributions by smaller firms, three- time tax deductions on spending, and financial support for lay-offs, among other measures, it added. The measures are to be presented to the prime minister later on Monday, council chairman Thosaporn Sirisumphand, who also heads the state planning agency, told reporters. Read More … Go to top Hong Kong's January-March Hong Kong's seasonally adjusted unemployment rate rose to 4.2% in the unemployment rises to 4.2%, January to March period, the highest in more than nine years, as the highest in more than nine years coronavirus restricted activity in an economy already in recession, the government said on Monday. The jobless rate rose from 3.7% in the December-February period, government data showed. Read More … Go to top Big funds demand UK Plc Some of the top UK fund managers are demanding that companies respect the coronavirus cash calls recognize rights of retail investors after Britain's financial regulator relaxed the rules to retail speed up corporate fund raising in order to weather the coronavirus crisis. With Britain in lockdown, companies no longer need to approach all existing investors with their plans, to allow them first right of refusal on buying new shares or on seeing their existing stake diluted, so-called pre-emption rights. This leaves retail investors at a disadvantage, say signatories to a letter including Fidelity International Chief Executive Anne Richards, Schroders (LON:SDR) fund manager Andy Brough and AJ Bell founder Andy Bell. "While we recognize the need for businesses to raise equity capital in an expedited fashion, we are concerned that no protections are being afforded to retail investors," they wrote. Since the start of March, 2.7 billion pounds has been raised by companies on deeply discounted terms, with retail investors blocked from taking part, said the coordinator of the letter, PrimaryBid, a technology firm that works with the London Stock Exchange to help retail investors access equity placings.
Load more

Recommended publications
  • 8-11 July 2021 Venice - Italy
    3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING AND SIDE EVENTS 8-11 July 2021 Venice - Italy 1 CONTENTS 1 ABOUT THE G20 Pag. 3 2 ITALIAN G20 PRESIDENCY Pag. 4 3 2021 G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETINGS Pag. 4 4 3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING Pag. 6 Agenda Participants 5 MEDIA Pag. 13 Accreditation Media opportunities Media centre - Map - Operating hours - Facilities and services - Media liaison officers - Information technology - Interview rooms - Host broadcaster and photographer - Venue access Host city: Venice Reach and move in Venice - Airport - Trains - Public transports - Taxi Accomodation Climate & time zone Accessibility, special requirements and emergency phone numbers 6 COVID-19 PROCEDURE Pag. 26 7 CONTACTS Pag. 26 2 1 ABOUT THE G20 Population Economy Trade 60% of the world population 80 of global GDP 75% of global exports The G20 is the international forum How the G20 works that brings together the world’s major The G20 does not have a permanent economies. Its members account for more secretariat: its agenda and activities are than 80% of world GDP, 75% of global trade established by the rotating Presidencies, in and 60% of the population of the planet. cooperation with the membership. The forum has met every year since 1999 A “Troika”, represented by the country that and includes, since 2008, a yearly Summit, holds the Presidency, its predecessor and with the participation of the respective its successor, works to ensure continuity Heads of State and Government. within the G20. The Troika countries are currently Saudi Arabia, Italy and Indonesia.
    [Show full text]
  • Monetary Policy and Other Issues
    2 Monetary policy and other issues Overview 2.1 On 7 February 2017, the Reserve Bank of Australia (RBA) decided to leave official interest rates unchanged at 1.50 per cent. At the committee’s last hearing with the RBA in September, the interest rate remained at 1.50 per cent after reducing the cash rate by 25 basis points on 4 August 2016. 2.2 In his February Statement on the decision, the Governor noted that the current circumstances called for monetary policy to remain accommodative. The Governor commented: Taking account of the available information, and having eased monetary policy in 2016, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.1 2.3 The RBA noted that conditions in the global economy have improved recently and that ‘above-trend growth is expected in a number of advanced economies, although uncertainties remain.’2 2.4 The Governor remarked in his opening statement that: Headline inflation has risen in most countries and it is much closer to target than it has been for some years. Given all this, forecast for global growth has been revised up over recent months—and that is the first time that has happened for quite a few years. 3 1 Reserve Bank of Australia (RBA), Statement by Philip Lowe, Governor: Monetary Policy Decision, Media Release No. 2017-02, 7 February 2017 2 Reserve Bank of Australia (RBA), Statement by Philip Lowe, Governor: Monetary Policy Decision, Media Release No.
    [Show full text]
  • Small Grey Rhinos: Understanding Australia's Economic Dependence
    Australia-China Relations Institute 澳中关系研究院 Small grey rhinos: understanding Australia’s economic dependence on China James Laurenceson and Michael Zhou May 22 2019 Australia-China Relations Institute 澳中关系研究院 The Australia-China Relations Institute (ACRI) is an independent, non-partisan research institute based at the University of Technology Sydney (UTS). UTS:ACRI’s mission is to inform Australia’s engagement with China through substantive dialogue, and research and analysis grounded in scholarly rigour. This paper received funding support from PwC Australia. The analysis and conclusions in this publication are formulated independently by its author(s). UTS:ACRI does not take an institutional position on any issue; the views expressed in this publication are the author(s) alone. Published by Australia-China Relations Institute University of Technology Sydney PO Box 123 Broadway NSW 2007 Australia E: [email protected] W: www.australiachinarelations.org M: @acri_uts Front cover image: Shutterstock ISBN 978-0-6483151-3-1 © The Australia-China Relations Institute (ACRI) 2019 The publication is copyright. Other than for uses permitted under the Copyright Act 1968, no part may be reproduced by any process without attribution. W: australiachinarelations.org @acri_uts Small grey rhinos: understanding Australia’s economic dependence on China 2 Table of contents Executive Summary 5 1. Introduction 6 2. Australia’s economy doesn’t get to choose 6 3. Black swans or grey rhinos? 9 4. Big or small grey rhinos? 10 4.1. Grey rhino one – a ‘hard-landing’ in China’s economy 10 4.1.1. Managing the risk of a Chinese ‘hard-landing’ 11 4.2.
    [Show full text]
  • Zielmarktanalyse Australien
    www.exportinitiative.bmwi.de (A) Bereich für Bild AUSTRALIEN Technologieübergreifende Energielösungen für die Industrie Zielmarktanalyse 2018 mit Profilen der Marktakteure www.german-energy-solutions.de Impressum Herausgeber German-Australian Chamber of Industry and Commerce Deutsch-Australische Industrie- und Handelskammer 8 Spring Street, Level 6 Sydney NSW 2000 Telefon: +61 2 8296 0400 E-Mail: [email protected] Webseite: www.germany-australia.com.au Stand 31.07.2018 Bildnachweis AHK Australien Redaktion Anja Kegel Director Consulting Services, Projects [email protected] Jürgen Wallstabe Consultant, Consulting Services, Projects [email protected] Inhaltsverzeichnis I Tabellen 3 II Abbildungen 3 III Abkürzungen 3 1 Zusammenfassung 5 2 Länderprofil 6 2.1 Politischer Hintergrund 6 2.2 Wirtschaft, Struktur und Entwicklung 7 2.2.1 Aktuelle wirtschaftliche Lage 7 2.2.2 Außenhandel 8 2.2.3 Wirtschaftliche Beziehungen zu Deutschland 8 2.2.4 Investitionsklima und -förderung 9 3 Der Energiemarkt in Australien 10 3.1 Energieverbrauch 10 3.1.1 Energiebedarf und Aufteilung nach Sektoren 10 3.1.2 Energiequellen 12 3.1.3 Stromerzeugung und -verbrauch 12 3.2 Energiepreise 15 3.2.1 Strompreise 15 3.2.2 Gaspreise 15 3.3 Gesetzliche Rahmenbedingungen 16 3.4 Aktuelle Entwicklungen auf dem Energiemarkt 16 4 Energieeffizienz in der Industrie 19 4.1 Allgemeiner Überblick über den Energieverbrauch 19 4.2 Energieeffizienz im Industriesektor 24 4.2.1 Lebensmittelindustrie 24 4.2.2 Chemische Industrie 27 4.2.3 Bergbauindustrie 29 4.2.4
    [Show full text]
  • Reserve Bank of Australia Annual Report 2010
    The Reserve Bank in the Community The Reserve Bank’s 50th Anniversary The Reserve Bank opened for business as Australia’s central bank on 14 January 1960 (with the Reserve Bank Act 1959 having separated the central banking and commercial functions of the Commonwealth Bank). The 50th anniversary of the Reserve Bank provided a special opportunity for greater engagement with the community. The Bank hosted a sequence of international meetings in Sydney to mark the anniversary, including a symposium that addressed central banking lessons learned over the past 50 years and the challenges ahead. The papers and proceedings were published online and a commemorative volume has also been published. A special anniversary monograph by Professor Selwyn Cornish of the Australian National University, The Evolution of Central Banking in Australia, was published in January and is available to interested readers. There were several exhibitions at the Bank’s Head Office designed to share the Bank’s cultural holdings with the public and provide insights into the place of financial institutions and events in the nation’s history. Later this year, in recognition of the anniversary, the Research Library will re-open in a refurbished condition as the A.S. Holmes Library, in memory of one of the most influential officers to serve in the Reserve Bank in its 50-year history, Austin Stewart Holmes, OBE. It is a modest but fitting tribute to Holmes’ pursuit of intellectual excellence and public service. Activities of the State Offices In addition to its Head Office located in Sydney, the Reserve Bank has offices in Melbourne, Brisbane, Adelaide and Perth.
    [Show full text]
  • No 140 Asset Prices, Financial Imbalances and Monetary Policy: Are Inflation Targets Enough? by Charles Bean* Monetary and Economic Department
    BIS Working Papers No 140 Asset prices, financial imbalances and monetary policy: are inflation targets enough? by Charles Bean* Monetary and Economic Department September 2003 * Bank of England BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The views expressed in them are those of their authors and not necessarily the views of the BIS. Copies of publications are available from: Bank for International Settlements Press & Communications CH-4002 Basel, Switzerland E-mail: [email protected] Fax: +41 61 280 9100 and +41 61 280 8100 This publication is available on the BIS website (www.bis.org). © Bank for International Settlements 2003. All rights reserved. Brief excerpts may be reproduced or translated provided the source is cited. ISSN 1020-0959 (print) ISSN 1682-7678 (online) Foreword On 28-29 March 2003, the BIS held a conference on “Monetary stability, financial stability and the business cycle”. This event brought together central bankers, academics and market participants to exchange views on this issue (see the conference programme and list of participants in this document). This paper was presented at the conference. Also included in this publication are the comments by the discussants. The views expressed are those of the author(s) and not those of the BIS. The opening speech at the conference by the BIS General Manager and the prepared remarks of the four participants on the policy panel are being published in a single volume in the BIS Papers series.
    [Show full text]
  • Maintaining Stability in a Changing Financial System
    The Participants TOBIAS ADRIAN JEANNINE AvERSA Senior Economist Economics Writer Federal Reserve Bank of New York Associated Press SHAMSHAD AKHTAR MARTIN H. BARNES Governor Managing Editor, State Bank of Pakistan The Bank Credit Analyst BCA Research LEWIS ALEXANDER Chief Economist CHARLES BEAN Citi Deputy Governor Bank of England HAMAD AL-SAYARI Governor STEVEN BECKNER Saudi Arabian Monetary Agency Senior Correspondent Market News International SINAN ALSHABIBI Governor C. FRED BERGSTEN Central Bank of Iraq Director Peterson Institute for DAVID E. ALTIG International Economics Senior Vice President and Director of Research RICHARD BERNER Federal Reserve Bank of Atlanta Co-Head, Global Economics Morgan Stanley, Inc. SHUHEI AOKI General Manager for the Americas BRIAN BLACKSTONE Bank of Japan Special Writer Dow Jones Newswires 679 08 Book.indb 679 2/13/09 3:59:24 PM 680 The Participants ALAN BOLLARD JOSÉ R. DE GREGORIO Governor Governor Reserve Bank of New Zealand Central Bank of Chile HENDRIK BROUWER SErvAAS DEROOSE Executive Director Director De Nederlandsche Bank European Commission JAMES B. BULLARD WILLIAM C. DUDLEY President and Chief Executive Vice President Executive Officer Federal Reserve Bank of New York Federal Reserve Bank of St. Louis ROBERT H. DUGGER MARIA TEODORA CARDOSO Managing Director Member of the Board of Directors Tudor Investment Corporation Bank of Portugal ELIZABETH A. DUKE MARK CARNEY Governor Governor Board of Governors of the Bank of Canada Federal Reserve System JOHN CASSIDY CHARLES L. EvANS Staff Writer President and Chief The New Yorker Executive Officer Federal Reserve Bank of Chicago LUC COENE Deputy Governor MARK FELSENTHAL National Bank of Belgium Correspondent Reuters LU CÓRDOVA Chief Executive Officer MIGUEL FERNÁNDEZ Corlund Industries OrDÓÑEZ Governor ANDREW CROCKETT Bank of Spain President JPMorgan Chase International CAMDEN R.
    [Show full text]
  • Global Finance's Central Banker Report Cards 2020
    Global Finance’s Central Banker Report Cards 2020 NEW YORK, September 16, 2020 — Global Finance magazine has released the names of Central Bank Governors who earned ‘A’ or ‘A-’ grades as part of its Central Banker Report Cards 2020. The full Central Banker Report Cards 2020 report and grade list will appear in Global Finance’s October print and digital issues and online at GFMag.com. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of more than 90 key countries as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African About Global Finance States. Global Finance, founded in 1987, has a circulation of Grades are based on an “A” to “F” scale for success in areas such as inflation control, economic 50,000 and readers in 191 growth goals, currency stability and interest rate management. (“A” represents an excellent countries. Global Finance’s performance down through “F” for outright failure.) Subjective criteria also apply. audience includes senior corporate and financial “Even in good times, central bankers face an array of challenges. Today, with a global health crisis officers responsible for making sweeping the world, they are squeezed between political and practical realities like they never investment and strategic have before,” said Global Finance publisher and editorial director Joseph Giarraputo. “Our annual decisions at multinational Central Banker Report Cards analyze which countries have sound leadership at the economic companies and financial helm, showcasing policy stances that work.” institutions.
    [Show full text]
  • Reserve Bank of Australia Annual Report 2020
    Reserve Bank Board The Reserve Bank Board comprises nine members: the Governor (Chair), Deputy Governor (Deputy Chair), Secretary to the Australian Treasury (ex officio member) and six other non-executive members appointed by the Treasurer. Further to the legislative requirements, and in recognition of their responsibility to uphold the integrity of the Board and the Reserve Bank, members have adopted a Code of Conduct. Information about members of the Reserve Bank Board Audit Committee is provided at the end of this chapter. August 2020 Philip Lowe BCom (Hons) (UNSW), PhD (MIT) Governor and Chair Governor since 18 September 2016 Present term ends 17 September 2023 Philip Lowe was Deputy Governor from February 2012 until his appointment as Governor took effect in September 2016. Prior to that, he held various senior positions at the Reserve Bank, including Assistant Governor (Economic) and Assistant Governor (Financial System), where he was responsible for overseeing economic and policy advice to the Governor and Reserve Bank Board. He spent two years at the Bank for International Settlements working on financial stability issues. Mr Lowe has authored numerous papers, including on the linkages between monetary policy and financial stability. He is a signatory to The Banking and Finance Oath. PB RESERVE BANK OF AUSTRALIA ANNUAL REPORT 2020 | RESERVE BANK BOARD 19 Other roles Chair – Payments System Board Chair – Council of Financial Regulators Chair – Bank for International Settlements Committee on the Global Financial System Chair – Financial Markets Foundation for Children Member – Financial Stability Board Member – Trans-Tasman Council on Banking Supervision Director – The Anika Foundation Guy Debelle BEc (Hons) (Adelaide), PhD (MIT) Deputy Governor and Deputy Chair Deputy Governor since 18 September 2016 Present term ends 17 September 2021 Prior to his appointment as Deputy Governor, Guy Debelle was Assistant Governor (Financial Markets) from March 2007.
    [Show full text]
  • Philip Lowe: Remarks at Reserve Bank Board Dinner
    Philip Lowe: Remarks at Reserve Bank Board Dinner Remarks by Mr Philip Lowe, Governor of the Reserve Bank of Australia, at the Reserve Bank of Australia's Board Dinner, Brisbane, 5 September 2017. * * * Good evening. On behalf of the Reserve Bank Board I would like to warmly welcome you all to this community dinner. Thank you for your interest in the RBA and for joining us this evening. As you are probably aware the Reserve Bank Board had its monthly meeting here in Brisbane today, at our offices on Creek St. I would like to take the opportunity of this dinner to welcome Mark Barnaba to the Reserve Bank Board. This was Mark’s first Board meeting and he brings a wealth of experience in the resources and banking sectors to the table. Mark replaces John Akehurst who retired from the Board last week after a decade of public service in this role. Over those 10 years, John made an outstanding contribution to our deliberations. It’s fair to say that he served through interesting times, perhaps a little too interesting: a global financial crisis, the biggest mining investment boom in over a century, and central banks worrying that inflation was too low, not too high. All that, in just 10 years. Mark, I hope your time on the Board is not quite as interesting! At our meeting today we had the usual review of the global and Australian economic and financial data, as well as a thorough discussion of recent developments in Queensland. We know that the Queensland economy has gone through a difficult period following the wind-down of the mining investment boom, and that the pain has been concentrated in some regional communities.
    [Show full text]
  • Global Finance's Central Banker Report Cards 2019
    Global Finance’s Central Banker Report Cards 2019 NEW YORK, August 8, 2019 — Global Finance magazine has released its Central Banker Report Cards 2019. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 94 key countries as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. For the first time, central bankers from the following countries have been added to the list: Cambodia, Gambia, Krygryzstan, Laos, Madagascar, Mauritania, Mauritius, Mozambique and Rwanda. Grades are based on an “A” to “F” scale for success in areas such as inflation control, economic growth goals, currency stability and interest rate management. (“A” represents an excellent performance About Global Finance down through “F” for outright failure.) Subjective criteria also apply. Global Finance, founded in “Central bankers are facing the next potential recession with fewer arrows in their quivers and, in 1987, has a circulation of some quarters, unprecedented pressure on their independence,” said Global Finance publisher and 50,000 and readers in 188 editorial director Joseph Giarraputo. “With trade disputes and political instability gaining steam, countries. Global Finance’s nations look to central bank leaders to be steady hands on the world’s economic tillers, and this audience includes senior year’s top-rated bankers demonstrate just that kind of stable leadership, whether they are steering corporate and financial their nation through stormy times or battening the hatches with an eye to clouds on the horizon.” officers responsible for making investment and strategic The full Central Banker Report Cards 2019 report will appear in Global Finance’s October issue.
    [Show full text]
  • Policy Committees Report NSW LABOR STATE CONFERENCE 2017 SATURDAY 29 and SUNDAY 30 JULY 2017 STATE CONFERENCE
    Policy Committees Report NSW LABOR STATE CONFERENCE 2017 SATURDAY 29 AND SUNDAY 30 JULY 2017 STATE CONFERENCE POLICY COMMITTEE REPORT Contents A Healthy Society Policy Committee Report……………………………………….……3 Australia and the World Policy Committee Report…………………………….….…..33 Building Sustainable Communities Policy Committee Report……….……….…….57 Education and Skills Policy Committee Report……………………………..…….…131 Indigenous Peoples and Reconciliation Policy Committee Report……………....163 Our Economic Future Policy Committee Report………………………………….….169 Prosperity and Fairness at Work Policy Committee Report………………………..216 Social Justice and Legal Affairs Policy Committee Report………………………..256 Country Labor Committee Report……………………………………………..…….…304 2 2017 STATE CONFERENCE A HEALTHY SOCIETY In NSW and Australia, Labor has a proud history of fostering a world class health and hospital system. We have set up the Pharmaceutical Benefits Scheme, Medibank and Medicare as well as a re-building program of hospitals and emergency departments across NSW during the State Labor governments from 1995 to 2011. But these achievements are under threat due to inadequate resourcing; State and Federal cuts; ideologically driven privatisations; unnecessary waits; a reduction in quality; and spiralling costs. As we approach the seventh year of a Liberal-National government in NSW, we see a health and hospital system lurching from crisis to crisis – under the burden of cuts; an ageing population and increasing demand. As part of our deliberations, for the second year the health policy committee undertook community consultations to hear first-hand from patients, pensioners, family members, doctors, nurses, hospital workers, paramedics, allied and other health workers; and rank and file branch members. We met with SECs from Penrith, Londonderry, Hawkesbury, Prospect and Gosford, and collaborated with the central Policy Branch, unions and progressive think tanks.
    [Show full text]