The Bank of Jamaica (BOJ) has held the policy rate unchanged at 0.50% per annum effective November 20, 2019.
Similar to the policy decision made in September, BOJ’s decision to hold the policy rate constant was based on its assessment that monetary conditions are still conducive to the achievement of the inflation target of 4.0% to 6.0% over the next eight quarters.
The BOJ also assured the public that it is committed to closely monitoring the impact of the previously implemented monetary policy measures as well as overall economic activity and the impacts on inflation, to determine the appropriate future path for the policy rate.
Economic activity will contract in Trinidad and Tobago (T&T) as low prices discourage investment in T&T’s sizeable energy industry.
In addition, T&T’s overvalued exchange rate will cap consumption and limit investment in the non-energy sector, restricting T&T’s medium-term growth outlook
Fitch Solutions have revised down T&T’s real GDP forecast for 2019 from 1.3% y-o-y growth to 0.1% contraction and for 2020 from 1.4% growth to 0.4%.
The Congressional bill in support of demonstrators in Hong Kong that's expected to be signed by President Donald Trump is renewing market worries that the confrontation may scuttle the phase-one trade deal.
Chinese Ministry of Commerce spokesman Gao Feng said that both sides continue to work towards an agreement, with the country’s chief negotiator Vice Premier Liu He saying that he is “cautiously optimistic.”
The Wall Street Journal this morning reported that U.S. negotiators have been invited to Beijing for more talks.
British opposition Labour Party leader Jeremy Corbyn will unveil an election manifesto today promising radical changes across the economy, with “bankers, billionaires and the establishment” targeted.
For all the noise that the launch is likely to create, markets still only see a Conservative victory in the Dec. 12 vote.
There is little sign of any doubts creeping into that view, with sterling volatility remaining anchored in the wake of the first leader's debate.
For the nine-month period ended September 30, 2019, the KLE Group reported a comprehensive loss of $2.67Mn (EPS: -$0.027) down from a profit of $3.29Mn (EPS: $0.03) reported one year prior.
The reported loss was due to a decline in other operating income of 34.4% (or $8.16Mn) coupled with a drop in revenues of 1.8% (or $2.77Mn). Moreover, finance and depreciation expenses grew by 18.4% (or $2.15Mn) which also supported the weaker performance.
The stock has declined 44.1% YTD and closed yesterday’s trading session at $1.76 per share. At this price, the stock trades at a P/B of 1.58x which is below the Junior Market average of 4.54x.
ISP Finance recorded a 53.7% upswing in net profit to 40.55Mn (EPS: $0.39) for the nine-month period ended September 30, 2019.
The upward move in the bottom line was a direct result of a 28.8% (or $56.64Mn) growth in interest income as well as a $15.07Mn expansion in other income.
The stock has risen 64.5% YTD and closed yesterday’s trading session at $32.90 per share. At this price, the stock trades at a P/E of 59.3x which is above the Junior Market Financial sector average of 32.1x.
Panama has placed $1.3Bn in bonds on the international market, at the lowest rates it has received, Economy and Finance Minister Hector Alexander said on Tuesday, November 19.
The funds will be used primarily to pay interest on bonds due in January, he told a news conference. The 10-year bonds came with an effective interest rate of 2.83% and the 30-year bonds with a rate of 3.6%.
Some of the money will also be used to help pay bonuses to retirees, he added.
Singapore and Mexico signed a series of new cooperation agreements on Tuesday (Nov 19) that underscored the multi-faceted nature of ties between the two countries and pledged to conclude a region-wide trade deal by this year.
Among these were agreements to promote greater cooperation in water resource management, closer partnership in science and technology cooperation, and a renewed deal to team up on international development and tackle transboundary issues such as pandemic outbreaks.
In the first live television debate between opposition leaders, U.K. Prime Minister Boris Johnson just edged out a lead over Labour’s Jeremy Corbyn, according to a poll.
But that’s being seen as a win for Corbyn, who was expected to be beaten more comprehensively.
Corbyn received applause and landed verbal punches on Johnson, who struggled to win over an audience that laughed and groaned as he tried to steer the topic back to Brexit.
Washington angered Beijing by passing a bill aimed at supporting protesters in Hong Kong and warning China against a violent suppression of the demonstrations.
That’s as protesters sought to ramp-up disruption on transport networks, while this week’s university siege is still not completely over.
China responded to the U.S. by threatening to impose unspecified retaliation if the bill becomes law. That rebuke could hardly be more untimely for investors hoping a U.S.-China trade deal is nearing.
