RBA Interest Rate Decision Remained at 1.5%

The central bank of Australia or also known as RBA has announced their final decision during the board meeting held every month. The Reserve Bank of Australia made a resolution to keep their rates unchanged with a record low reaching 1.50 percent.

According to a site whose purpose is to compare mortgage rates, finder.com.au have made a survey among 75 experts in the industry and most them expected that rates will still be consistent. Furthermore, they support the RBA’s decision as there is no reason to demand the bank to employ such changes. Many professionals from the industry anticipate that the next move of the Australian financial system will be on the upcoming February 2017.

Italian Government Solicits €20bn to Support Their Struggling Banks

The Italian government waiting for parliamentary approval to borrow as much as 20 billion Euro equivalent to 17 billion pound to backed up weak banking sector especially Monte dei Paschi. This puts pressure to the newly elected Italian Prime Minister Paolo Gentiloni afraid to suffer losses regards to bailout rules of European Union.

He indicated that this serves as a preventive measure to protect savings. Also, Pier Carlo Padoan the Italian economy minister said that this would be used to induce liquidity in the banking industry to support troubled banks. They are looking for ways to pay losses incurred by retail investors.

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Vietnam Fast Economic Growth Gained More Than 6% in GDP

Vietnam’s economy rose by 6.21% this year being the fastest country to grow in the manufacturing sector. Its trade exports remain strong as it grew by 8.6% for this year despite sluggish global that is affecting other countries such as Singapore and China. 

The Gross Domestic Product climbed 6.68% in the fourth quarter last year while an improvement of 6.56% was seen since September as stated by the General Statistics Office of Hanoi. The forecasted economic growth of the country by the Asian Development Bank is 63 percent for 2017 giving a positive outlook in the next several years and standout from the rest of Asian countries.

The current Money Fall contest has already started on January 2, 2017 and will end on January 6, 2017.

You can register for the next competition which will take place from January 9, 2017 to January 13, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.

Inflation Rate in the Eurozone Rack Up

The inflation rate in the European region had increased, reaching its highest pace after three years. The surge is driven by the price hike for alcohol and tobacco, energy and food.

Based on the report from the Eurostat, the inflation percentage for December gained 1.1% which is notably higher from November’s result of 0.6%.

The highest rate occurred last 2013 in the month of September by which the result is also 1.1%. The final outcome is higher-than-expected which made the ECB’s target less than 2%.
The energy prices surge by 2.5% yearly, while the value of food and intoxicants grew by 1.2% year over year. Moreover, the energy costs rose due to OPEC’s resolution to decrease the production output.

The sharp jump lessened the fears of Europe regarding the possible deflation  which could weakened the eurozone’s economic growth. Meanwhile, other core prices compelled by world markets had a limited rise from 0.8% to 0.9% only, this little progress would mean that the December’s inflation is “short-lived” according to analysts.

World Economy Could Receive Boost from Tax Cuts, Says World Bank
   
The World Bank has stated that Trump’s proposed tax cuts and other spending policies could possibly help in boosting the global economy in spite of the concerns surrounding his proposed trading policies. The international development lender further added that the incoming administration could possibly endanger the recent gains caused by various economic stimuli once it implements the setting up of certain trading boundaries which could trigger counter-policies from neighboring countries such as Canada and the UK.

Oil Records Highest 6-Week Gains as KSA Cuts Back on Oil Production

    Oil prices increased in value and has recorded its largest two-day gains within the six-week  mark as Saudi Arabia prepares to cutback on its oil production way more than what was initially required as stated in the OPEC meeting a few weeks ago. Saudi’s Energy Minister has already stated that the country has already minimized its oil output to only less than 10 million barrels per day which is more than what was previously agreed on between OPEC and non-OPEC oil producers as part of efforts to curb down oil production across the globe.

Oil Prices Amp Up as the Dollar Weakens

Oil prices edged higher as the dollar weaken and the expectations about Organization of the Petroleum Exporting Countries (OPEC) en masse with other producers will reduce its output since it's part of the deal in curbing the worldwide overproduction.

According to traders the prices appears to be buoyant due to the sluggish stance of greens which made fuel cost cheaper for countries that utilize foreign currencies

The oil further accumulated support from the issued reduction for crude production which includes major producers in Russia.

OPEC also mentioned that they would cut down the quantity they produced with 1.2 million barrels each day to 32.5 million bpd starting 1st of January. However, there are assumptions that the Austria-based company will not totally execute the declared cutback whereas the agreement of 50 to 80 percent are adequate to support petroleum purchase.

Chinese Government’s Countermeasure for Decline in Home Prices

Residential property in Guangzhou climbed by 0.7 percent in December according to the report from Bureau of Statistics’ data. It is the only city who opposed the deflation program of residential properties in China.

Twenty local and provincial officials have seeked out counter measures to control loans and restrict second-home buyers to lessen the risk of elevated prices that may lead into dire repercussions. When this countermeasure has been implemented home prices from first and second tier cities steadied implying a positive change for the economy. As for the city of Beijing, he pledged that the prices of new homes will be kept unchanged for this year.

Pound Surges, USD Plummets After Trump, May Comments

    The sterling pound finally increased in value after a long slump after UK PM Theresa May outlined her plans for the hard Brexit process, therefore clearing up some of the Brexit-related confusions and placating investors. Meanwhile, US president-elect Donald Trump has recently commented on the strength of the dollar, saying that the USD’s current value might be “too strong” for the US economy to handle. This has then prompted USD investors to vacate the dollar and move to riskier assets such as stock markets and has caused the dollar to drop in value.

The current Money Fall contest has already started on January 23, 2017 and will end on January 27, 2017.
You can register for the next competition which will take place from January 30, 2017 to February 3, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.