A gauge of global equity markets rebounded in a late-session rally on Tuesday after U.S. Federal Reserve Chair Jerome Powell calmed fears of rising interest rates that have roiled bonds and helped spur assets linked to expectations of a strong recovery.
LSAP retained at NZ$100 bln (Recasts with Governor Orr’s comments from press conference)
WELLINGTON, Feb 24 (Reuters) - New Zealand’s central bank said on Wednesday it was in no rush to tighten monetary policy, after it kept interest rates at record lows and sounded a cautious note about the economic outlook.
The Reserve Bank of New Zealand (RBNZ) said it did not expect to tighten settings until it was confident inflation was sustained at the 2% per annum target midpoint and employment was at maximum sustainable level.
There was no specific date when that confidence would “magically arrive”, Governor Adrian Orr said in a news conference. The central bank kept the official cash rate at a record low of 0.25%, as widely expected.
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Feb 23 (Reuters) - Sri Lankan shares fell for a second straight session on Tuesday, weighed down by industrial and financial stocks. The benchmark stock index ended 3.53% lower at 7,329.21. Lanka ORIX Leasing company slid 5.8% and was the biggest drag on the index, while conglomerate Expolanka Holdings shed 9.7%. After markets closed on Monday, data showed that the island nation’s national consumer price inflation was up 3.7% year-on-year in January. Trading volume on the CSE All Share Index rose to 134.4 million from 130.4 million in the previous session. Foreign investors were net-sellers, offloading 266.6 million Sri Lankan rupees ($1.38 million) worth of shares, according to exchange data.
South Africa could spend up to 19.3 billion rand ($1.33 billion) over the next three years to vaccinate most of its population, the Treasury said on Wednesday, in a "difficult balancing act" meant to contain COVID-19 while avoiding a debt spiral.
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FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie
(Reuters) - The Federal Reserve says its Fedwire Funds, Fedcash and some check clearing services have resumed normal operations after a more than three-hour disruption to more than a dozen critical central bank payment services forming the backbone of the U.S. banking system.
The National Settlement Service and the Fedwire Securities Service, which provides issuance, settlement and transfer services for Treasuries and other government securities, have also been restored, the Fed said.
“Our technical teams have determined that the cause is a Federal Reserve operational error,” the Fed said on Wednesday on its website. “The Federal Reserve Banks have taken steps to help ensure the resilience of the Fedwire and NSS applications, including recovery to the point of failure.”