By Reuters Staff
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FILE PHOTO: San Francisco Federal Reserve Bank chief of research Mary Daly stands near the podium before a speech at the CFA Society in San Francisco, California, U.S. July 10 2018. REUTERS/Ann Saphir/File Photo
(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Thursday said the U.S. central bank will keep monetary policy easy despite what she said will be an increase this year in prices as the economy reopens more fully and households spend more.
“As policymakers we have to look through these temporary increases; we’re really looking for sustained improvements in inflation so we can average 2% and meet our price stability goals,” Daly said in an interview with Fox Business Network. “We still have almost 10 million people on the sidelines looking for jobs. we really aren’t projecting achieving either side of our dual mandate in 2021 and that’s why policy is remaining accommodative.”
By Reuters Staff
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PARIS, April 1 (Reuters) - Bank of France Governor Francois Villeroy de Galhau said on Thursday that he does not expect new COVID-19 restrictions to have a significant impact on the bank’s 5.5% growth forecast for 2021 if the measures do not last beyond early May.
President Emmanuel Macron on Wednesday ordered France into its third national lockdown and said schools would close for three weeks as he sought to push back a third wave of COVID-19 infections that threatens to overwhelm hospitals.
With the death toll nearing 100,000, intensive care units in the hardest-hit regions at breaking point and a slower-than-planned vaccine rollout, Macron was forced to abandon his goal of keeping the country open to protect the economy.
The coronavirus pandemic has worsened debt problems facing 72 low- and middle-income countries and jeopardized $598 billion in debt service payments from 2021 to 2025, including $87 billion this year, the United Nations Development Program reported on Thursday.
By Reuters Staff
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FILE PHOTO: An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File photo
MUMBAI (Reuters) - The Indian rupee weakened to its lowest level in a month on Wednesday morning, tracking continued gains in the dollar index on the back of the rise in U.S. bond yields.
The partially convertible rupee was at 73.52/53 per dollar at 0437 GMT versus its previous close of 73.38 after touching 73.59 in opening deals, its weakest since March 1.
Traders expect higher demand for dollars due to the financial year end in India as well and that is expected to keep pressure on the local unit.
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SHANGHAI, March 17 (Reuters) - China is getting close to a southbound leg for its Bond Connect programme, the general manager of the programme’s joint venture operator said on Wednesday, as authorities seek to ease capital inflow pressures behind a soaring yuan.
A southbound leg would give Chinese investors access to foreign bond markets through the scheme. A northbound leg launched in July 2017 eased foreign access to Chinese bonds.
“Southbound trading will happen when northbound trading is extremely successful, insofar as we see so much ‘capital in’ that there will be need for ‘capital out’,” Julien Martin, general manager of Bond Connect Co. Ltd, told an online briefing.