Yields on Australian three-year government bonds slipped to a record low on Friday as the country's central bank pushed back against market speculation of early interest rate hikes though the local dollar jumped to a one-week high.
Texas lawmakers on Thursday found themselves on the horns of a power market dilemma: expect lawsuits from utilities and traders if they retroactively cut cold-snap electricity prices, or "cascading bankruptcies" if they do not.
European Central Bank policymakers sparred over the impact of a $1.9 trillion euro U.S. pandemic relief bill on the euro zone economy and the broader outlook for the bloc when they met this week and increased the pace of stimulus, five sources told Reuters.
(Adds comment from finance minister)
WELLINGTON, March 12 (Reuters) - The New Zealand government on Friday reiterated plans to introduce property cooling measures after the IMF warned that “unsustainable” house price rises could trigger a pronounced correction.
Finance Minster Grant Robertson said the government will address the issue of the elevated house prices in the coming weeks and in the 2021 budget later this year.
The country’s success in managing COVID-19 has enabled a faster economic recovery than other countries, but a slew of monetary and fiscal stimulus measures has super-charged property market values.
The International Monetary Fund’s warning, in a staff report released on Friday, comes as New Zealand’s median prices for residential property rose by a record 22.8% year-on-year in February, according to the latest data from the Real Estate Institute of New Zealand (REINZ).
By Reuters Staff
1 Min Read
DUBAI, March 2 (Reuters) - Bahrain expects to post a deficit of 1.2 billion dinars ($3.20 billion) in 2021, state news agency BNA said on Tuesday, citing the finance ministry.
The Gulf state projected a budget of 3.6 billion dinars for 2021, with revenues expected to amount to 2.4 billion dinars, BNA said.
$1 = 0.3771 Bahraini dinars Reporting by Alaa Swilam and Davide Barbuscia Editing by Chris Reese