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Tokyo stocks close mixed on rising interest rates, positive U.S. futures

STORY: Tokyo stocks close mixed on rising interest rates, positive U.S. futures SHOOTING TIME: May 28, 2024 DATELINE: May 29, 2024 LENGTH: 00:01:51 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Tokyo 2. various of Tokyo Stock Exchange 3. various of securities company STORYLINE: Tokyo stocks closed mixed on Tuesday amid concerns over rising long-term interest rates in Japan, while the market's downside was buoyed by positive U.S. stock futures. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 44.65 points, or 0.11 percent, from Monday at 38,855.37. The broader Topix index, meanwhile, finished 2.14 points, or 0.08 percent, higher at 2,768.50. Market watchers here noted the yield on the benchmark 10-year Japanese government bond briefly rose 0.015 percentage point from Monday's close to 1.035 percent, its highest level since April 2012, amid speculation that the Bank of Japan is shifting away from monetary easing measures. The Nikk

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Tokyo stocks end lower over higher Japanese interest rates

STORY: Tokyo stocks end lower over higher Japanese interest rates SHOOTING TIME: recent footage DATELINE: May 23, 2024 LENGTH: 00:01:13 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo 2. various of Tokyo Stock Exchange STORYLINE: Tokyo stocks closed lower on Wednesday, weighed down by concern over higher borrowing costs after Japan's benchmark bond yield touched the 1 percent threshold for the first time in around 11 years. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 329.83 points, or 0.85 percent, from Tuesday at 38,617.10. The broader Topix index, meanwhile, finished 22.36 points, or 0.81 percent, lower at 2,737.36. The yield on Japan's benchmark 10-year government bond hit 1 percent on Wednesday for the first time since May 2013 amid speculation that the Bank of Japan is moving to normalize its monetary policy, sending stocks lower by fueling concern over higher borrowing costs, analysts said. Market watchers here noted stocks

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Foreign investments in Uzbekistan nearly doubled in 2023, president says

STORY: Foreign investments in Uzbekistan nearly doubled in 2023, president says SHOOTING TIME: May 2, 2024 DATELINE: May 2, 2024 LENGTH: 00:00:39 LOCATION: Tashkent CATEGORY: ECONOMY SHOTLIST: 1. various of the forum STORYLINE: The Uzbek economy has soared in recent years, with foreign investments nearly doubling last year, President Shavkat Mirziyoyev said on Thursday. In his opening speech at the third Tashkent International Investment Forum, held in the capital of Uzbekistan, Mirziyoyev said his country has prioritized economic liberalization, the provision of a favorable investment climate and broad opportunities for entrepreneurs as the main goals of its systemic reforms. "Last year alone, growth rates reached 6 percent, while inflation remained below 9 percent. The trade turnover is steadily increasing. The stability of the national currency and foreign exchange reserves are being maintained," he said. He also noted that over the past years, the country has attracted more than 60 billion

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Egypt's central bank raises interest rates by 600 bps

STORY: Egypt's central bank raises interest rates by 600 bps SHOOTING TIME: earlier footage DATELINE: March 7, 2024 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. In a statement, the central bank raised the overnight lending rate to 28.25 percent, its overnight deposit rate to 27.25 percent, and the rate of the main operation to 27.75 percent. The CBE decided to accelerate the monetary tightening process in order to fast-track the disinflation path and ensure a decline in underlying inflation. Egypt's annual inflation figures, despite recent declines, are expected to remai

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows U.S. dollar and Egyptian pound notes in Cairo, Egypt. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Sui Xiankai)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- A man walks out of an exchange office in Cairo, Egypt, on March 6, 2024. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Ahmed Gomaa)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows Egyptian pound notes in Cairo, Egypt. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Sui Xiankai)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows the Central Bank of Egypt (CBE) building in Cairo, Egypt. The CBE raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Ahmed Gomaa)

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Turkish currency dips against USD after fresh interest rate hike

STORY: Turkish currency dips against USD after fresh interest rate hike SHOOTING TIME: Jan. 26, 2024 DATELINE: Jan. 27, 2024 LENGTH: 00:01:21 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of an exchange office in Istanbul 3. various of the Turkish Central Bank and Turkish lira 4. various of Murat Tufan, an analyst with Turkish broadcaster Ekoturk (file) 5. various of the Turkish Central Bank, Turkish lira 6. various of people walking on the street in Istanbul, Türkiye STORYLINE: The Turkish currency lira hit an all-time low against the U.S. dollar on Friday, one day after the central bank raised its key interest rate by 250 basis points to 45 percent. After testing 30.64 liras, one dollar stood at 30.32 liras at 11:10 a.m. local time (0810 GMT). During last June to December, the Turkish central bank raised interest rates from 8.5 percent to 42.5 percent to tame persistent inflation. According to the official data announced last Decembe

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Turkish financial market wavers amid concerns over Israel-Gaza conflict: analyst

STORY: Turkish financial market wavers amid concerns over Israel-Gaza conflict: analyst DATELINE: Oct. 10, 2023 LENGTH: 00:01:24 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul 2. Soundbite 1 (Turkish): MURAT TUFAN, Analyst with the Ekoturk broadcaster 3. various of Türkiye's central bank 4. Soundbite 2 (Turkish): MURAT TUFAN, Analyst with the Ekoturk broadcaster STORYLINE: The Turkish financial market on Monday experienced turbulence, with exchange rates fluctuating and the stock market falling, amid concern and caution over the ongoing Israel-Gaza conflict, said an analyst. The Turkish currency lost 0.43 percent of its value on the morning trading against the U.S. dollar, standing at 27.7 Turkish liras per dollar at 11:00 a.m. local time (0800 GMT). At the opening of the Istanbul Stock Exchange, Türkiye's benchmark BIST-100 Index dropped to 8,300.69 points, with a decline of 1.94 percent compared to the previous closure. The banking index decreased by 2.08 percent, accor

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Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

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Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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China Foreign Exchange Reserves

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang City, East China's Anhui Province. According to statistics released by China's State Administration of Foreign Exchange on September 7, as of the end of August 2023, the scale of China's foreign exchange reserves was 3,160.1 billion US dollars, down 44.2 billion US dollars, or 1.38%, from the end of July.

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Australia's interest rate unchanged at 4.1 pct for 3rd month

STORY: Australia's interest rate unchanged at 4.1 pct for 3rd month DATELINE: Sept. 6, 2023 LENGTH: 00:00:59 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of Reserve Bank of Australia (RBA) 2. various of estate industry of Australia STORYLINE: The Reserve Bank of Australia (RBA) decided on Tuesday to leave the cash rate target unchanged at 4.1 percent, with the interest rate paid on Exchange Settlement balances staying at 4.00 percent. This marked the third straight month that RBA put the interest rate on hold from July. Wrapping up a monetary policy meeting, RBA Governor Philip Lowe noted in a statement that interest rates have been increased by 4 percentage points since May last year. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so. In light of this and the uncertainty surrounding the economic outlook, the Board again decided to hold interest rates steady this month," said Lowe. The

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Russia raises key interest rate to 12 pct, citing inflation

STORY: Russia raises key interest rate to 12 pct, citing inflation DATELINE: Aug. 16, 2023 LENGTH: 00:01:36 LOCATION: Moscow CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Russia in Moscow 2. various of Moscow city 3. various of a money exchange bureau in Moscow 4. various of Moscow city STORYLINE: Russia's Central Bank has decided to raise the key interest rate by 350 basis points to 12 percent, it said in a statement Tuesday. During an emergency meeting, the bank announced the rate increase and said the decision was "aimed at limiting price stability risks" amid inflation pressure. "As of Aug. 7, the annual rate of inflation rose to 4.4 percent while current price growth rates continue to increase," the bank said in a statement. According to the bank, steady growth in domestic demand has surpassed the capacity to expand production, increasing inflationary pressure and influencing the ruble's exchange rate dynamics through elevated demand for imports. "Consequently, the pass-through of

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Argentina's central bank hikes interest rate to 118 pct

STORY: Argentina's central bank hikes interest rate to 118 pct DATELINE: Aug. 15, 2023 LENGTH: 00:02:36 LOCATION: Buenos Aires CATEGORY: ECONOMY SHOTLIST: 1. various of markets and stores in Argentina STORYLINE: Argentina's central bank on Monday increased the benchmark interest rate by 21 percentage points to 118 percent. The move aims to anchor exchange expectations and boost positive real returns on investments in local currency, among other purposes, according to the Central Bank of the Argentine Republic (BCRA). In the face of high inflation, the central bank raised its benchmark interest rates five times this year. The BCRA will continue to monitor the evolution of the general level of prices, the dynamics of the financial and exchange markets and of the monetary aggregates for the purpose of calibrating its rate policy, it said. Xinhua News Agency correspondents reporting from Buenos Aires. (XHTV)

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Italian bank stocks plummet after gov't approves windfall tax

STORY: Italian bank stocks plummet after gov't approves windfall tax DATELINE: Aug. 10, 2023 LENGTH: 00:00:28 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Rome STORYLINE: Italian banking stocks took a beating on Tuesday, after the government passed a measure that will tax the surplus profits of the country's financial institutions at 40 percent this year. Matteo Salvini, Italy's Deputy Prime Minister and Minister of Infrastructure and Transportation, said that the funds raised by the windfall tax would be used to help poor families and small businesses hurt by the increase in interest rates over the last year. The new decree was passed by the Council of Ministers late on Monday. The country's main banks felt the impact of the new policy immediately. The main blue-chip index on the Italian Stock Exchange in Milan finished Tuesday's trading session down 2.1 percent, in what was a mildly negative session across Europe. Paris's CAC-40 index was down 0.69 percent for the day, while the D

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Turkish lira falls ahead of central bank decision

STORY: Turkish lira falls ahead of central bank decision DATELINE: July 19, 2023 LENGTH: 00:00:54 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city 2. various of exchange office in Istanbul 3. various of Türkiye's central bank 4. various of Hafize Gaye Erkan, governor of Türkiye's central bank STORYLINE: Turkish lira weakened more than 2 percent on Tuesday against the U.S. dollar ahead of a key rate decision by the central bank. The lira stood at 26.96 against the dollar at 4:00 p.m. local time (1300 GMT) after falling to a record low of 27. The currency has lost about 30 percent of its value against the greenback this year. Lira's depreciation came as the central bank is due to make a decision on its key interest rate on Thursday. In June, the bank hiked the interest rates by 15 percent, the first increase in 27 months, under the central bank's new governor Hafize Gaye Erkan. President Recep Tayyip Erdogan, a staunch supporter of low rates policy despite soaring infl

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TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

(230624) -- ISTANBUL, June 24, 2023 (Xinhua) -- People walk past a billboard displaying exchange rates in Istanbul, Türkiye, on June 23, 2023. Turkish currency on Friday sank to fresh lows against the U.S. dollar a day after the central bank hiked its key interest rate well below market expectations. The lira hit 25.0 against the greenback at around 11 a.m. local time (0800 GMT). The currency's depreciation has exceeded 20 percent since the beginning of the year. (Photo by Omer Kuscu/Xinhua)

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TÜRKIYE-ISTANBUL-ELECTION-TURKISH LIRA

(230603) -- ISTANBUL, June 3, 2023 (Xinhua) -- A man checks currency rates at an exchange office in Istanbul, Türkiye, May 29, 2023. TO GO WITH "Roundup: Eyes on value of Turkish currency after presidential election" (Photo by Omer Kuscu/Xinhua)

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Eyes on value of Turkish currency after presidential election

STORY: Eyes on value of Turkish currency after presidential election DATELINE: May 31, 2023 LENGTH: 0:02:14 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Türkiye 2. SOUNDBITE 1 (Turkish): RESAT YILMAZ, Businessman in Grand Bazaar, Istanbul 3. SOUNDBITE 2 (Turkish): EKREM YUMLU, Shop owner in Taksim, Istanbul 4. SOUNDBITE 3 (Turkish): MURAT TUFAN, Analyst with the Ekoturk broadcaster STORYLINE: A day after the presidential election runoff in Türkiye, many Istanbulites flocked to the Grand Bazaar. They came here to exchange their dollars at high rates or get the most out of their trade interactions through the advantages of the open market as the bazaar is full of exchange offices. Türkiye is plagued by economic woes. The cost of living is high and the local currency losing its value. Over the past two years, the lira lost around 60 percent of its value against the dollar. SOUNDBITE 1 (Turkish): RESAT YILMAZ, Businessman in Grand Bazaar, Istanbul "Our country's biggest problem no

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Turkish lira sinks to record low against USD as presidential poll heads to runoff

STORY: Turkish lira sinks to record low against USD as presidential poll heads to runoff DATELINE: May 17, 2023 LENGTH: 00:01:56 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Turkish citizens vote in the ballot boxes 3. various of people shopping in supermarket 4. Borsa Istanbul Stock Exchange STORYLINE: The Turkish lira hit a record low of 19.70 against the U.S. dollar on Tuesday as the presidential election is heading to a runoff on May 28 after Sunday's inconclusive vote. In the open market, the exchange rate went as high as 22 liras per dollar on Monday before falling back to 20.25 on Tuesday. Turkish people have long been suffering high living costs triggered by a soaring inflation rate, which hit a 24-year high of 85.5 percent in October of last year before falling back to 43.68 percent in April. Turkish President Recep Tayyip Erdogan has been employing unorthodox policies such as lowering interest rates, claiming such policies

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Dow sinks 530 points after Fed rate hike

STORY: Dow sinks 530 points after Fed rate hike DATELINE: March 23, 2023 LENGTH: 00:02:28 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of New York Stock Exchange on Wall Street 2. various of the Federal Reserve 3. various of Fed Chair Jerome Powell making an announcement 4. various of a Signature Bank branch in Manhattan, New York STORYLINE: U.S. stocks fell sharply on Wednesday after the Federal Reserve raised rates by a quarter of a percentage point. The Dow Jones Industrial Average fell 530.49 points, or 1.63 percent, to 32,030.11. The S&P 500 dropped 65.90 points, or 1.65 percent, to 3,936.97. The Nasdaq Composite Index shed 190.15 points, or 1.60 percent, to 11,669.96. All the 11 primary S&P 500 sectors ended in red, with real estate and financials down 3.64 percent and 2.37 percent respectively, leading the slide. The Fed approved a 25 basis point rate hike at the conclusion of its two-day meeting on Wednesday, forging ahead with its fight against stubborn inflation despite fina

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Xinhua Headlines: One year on, Ukraine crisis accentuates calls for peace

(230223) -- MOSCOW/KIEV, Feb. 23, 2023 (Xinhua) -- People walk past a screen of a currency exchange office displaying the exchange rates of U.S. Dollar and Euro to Russian Rubles in Moscow, Russia, March 1, 2022. (Photo by Alexander Zemlianichenko Jr/Xinhua)

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Australian central bank lifts cash rate to 3.35 pct

STORY: Australian central bank lifts cash rate to 3.35 pct DATELINE: Feb. 8, 2023 LENGTH: 00:00:46 LOCATION: SYDNEY, Australia CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Sydney 2. various of Sydney views STORYLINE: The Reserve Bank of Australia (RBA) on Tuesday increased the cash rate target by 25 basis points to 3.35 percent, delivering a ninth straight hike since the central bank began raising rates in May last year. The RBA also lifted the interest rate on Exchange Settlement balances by 25 basis points to 3.25 percent. RBA Governor Philip Lowe said in a statement that in Australia, CPI inflation over the year to the December quarter was 7.8 percent, the highest since 1990, while in underlying terms, inflation was 6.9 percent, which was higher than expected. "Global factors explain much of this high inflation, but strong domestic demand is adding to the inflationary pressures in a number of areas of the economy," said the governor. According to the statement, the central bank's f

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XINHUA-PICTURES OF THE YEAR 2022-WORLD NEWS

(230110) -- BEIJING, Jan. 10, 2023 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Throughout 2022, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. (Xinhua/Liu Jie)

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Yearender: Xinhua's top 10 world news events in 2022

(221230) -- BEIJING, Dec. 30, 2022 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Xinhua's top 10 world news events in 2022 Fed's aggressive rate hikes scourge global economy The U.S. Federal Reserve raised interest rates by 25 basis points on March 16 to stem a surge in inflation, beginning its new round of rate-hiking cycle. Throughout this year, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. The U.S. tightening of liquidity has pulled up the exchange rate of the U.S. dollar and transferred the crisis outward, which has led to the tightening of global financial conditions and the slowdown of world economic growth, wreaking havoc on

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G-7 issues emergency statement

TOKYO, Japan - Japanese Finance Minister Taro Aso meets the press at the ministry in Tokyo on Feb. 12, 2013, after he and his Group of Seven counterparts issued an emergency statement. The G-7 finance chiefs pledged in the statement to avoid using monetary policy to control foreign exchange rates, saying they should be determined by the markets.

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Japan, China to start direct currency trading

SHANGHAI, China - Photo shows a display for the Japanese yen-Chinese yuan exchange rates in a dealing room of the Shanghai branch of the Bank of Tokyo-Mitsubishi UFJ on June 1, 2012. Direct trading in the Japanese and Chinese currencies began the same day with the yuan fetching 12.33 yen at the outset, bypassing the U.S. dollar in a development expected to boost trade and investment between Asia's two biggest economies.

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Fujii hints at intervention to stem steeper yen rise

TOKYO, Japan - Finance Minister Hirohisa Fujii speaks at a news conference at the Finance Ministry in Tokyo on Sept. 29, 2009. Fujii indicated the government may step into the currency market to stem the yen's rapid appreciation, saying Tokyo may take steps if exchange rates move ''abnormally.''

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U.S. stocks fall after Fed raises rates, signals more hikes ahead

STORY: U.S. stocks fall after Fed raises rates, signals more hikes ahead DATELINE: Dec. 15, 2022 LENGTH: 0:02:28 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of New York Stock Exchange on Wall Street 2. various of U.S. Federal Reserve 3. various of Fed Chair Jerome Powell making opening remarks while attending a press conference on Dec. 14 4. various of consumers in New York City during holiday season STORYLINE: Wall Street's major averages declined on Wednesday after the Federal Reserve raised interest rates for the seventh time this year and signaled more hikes to come next year. The Dow Jones Industrial Average decreased 142.29 points, or 0.42 percent, to 33,966.35. The S&P 500 fell 24.33 points, or 0.61 percent, to 3,995.32. The Nasdaq Composite Index dipped 85.93 points, or 0.76 percent, to 11,170.89. Ten of the 11 primary S&P 500 sectors ended in red, with financials and materials down 1.29 percent and 1.11 percent, respectively, leading the laggards. Health care rose 0.14 percen

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Mazda sees record 1st-half group operating profit, sales

HIROSHIMA, Japan - Hisakazu Imaki, president of Mazda Corp., appears at a news conference in Hiroshima on Nov. 2 in which the company said it posted its largest-ever first-half group operating profit and sales for the first six months of fiscal 2007. on the back of steady demand for its cars overseas and favorable exchange rates.

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Structural reform necessary to correct int'l imbalances: Ota

WASHINGTON, United States - Japan's economic and fiscal policy minister Hiroko Ota speaks at a news conference in Washington on Jan. 4. She said structural reform holds the key to redressing international imbalances, not manipulating foreign exchange rates.

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(2)China's yuan exchange rates to stay stable in 2004

BEIJING, China - People's Bank of China Governor Zhou Xiaochuan speaks during a news conference at the Great Hal of the People in Beijing on March 11. He said a ''stable'' money supply is necessary for a ''healthy, sustainable'' economy and ''high-speed development,'' adding that this policy could help stabilize the currency rate, as well.

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(1)China's yuan exchange rates to stay stable in 2004

BEIJING, China - People's Bank of China Governor Zhou Xiaochuan prepares to hold a news conference at the Great Hall of the People in Beijing on March 11. He said a ''stable'' money supply is necessary for a ''healthy, sustainable'' economy and ''high-speed development,'' adding that this policy could help stabilize the currency rate, as well.

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Exchange rates unlikely to be high on agenda at G-7: Kuroda

TOKYO, Japan - Haruhiko Kuroda, vice finance minister for international affairs, speaks in an interview with Kyodo News at the Finance Ministry in Tokyo on Feb. 7. Kuroda said exchange rates are unlikely to be high on the agenda at a meeting of financial officials from the Group of Seven (G-7) major nations in Canada on Feb. 9.

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Real estate investment trusts debut on TSE

TOKYO, Japan - A Japanese version of U.S. real estate investment trusts (REITs) debuts on the Tokyo Stock Exchange (TSE) in a ceremony on Sept. 10, with high hopes in the securities industry that it will lure individual investors amid ultra-low interest rates and a slump in stock prices. A fund affiliated with Mitsui Fudosan Co. and another with Mitsubishi Estate Co. were listed on the day.

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New, outgoing vice finance ministers meet press

TOKYO, Japan - Japan's new Vice Finance Minister for International Affairs Haruhiko Kuroda (R) meets the press at the Finance Ministry in Tokyo on July 9, after succeeding Eisuke Sakakibara (L) on July 8. Kuroda voiced his determination to do his utmost to keep the yen's exchange rates against major currencies stable.