Nuveen, the $1.1 trillion asset management arm of TIAA, has sold out of its holdings in the Chinese companies that will be barred to U.S. investors by recent sanctions, it said in an email to Reuters.
South Africa's central bank kept its main lending rate at 3.5% on Thursday, saying overall risks to the inflation outlook appeared to be balanced in the near and medium term.
Turkey's central bank held rates at 17% as expected on Thursday and promised to tighten more if needed to battle inflation that has soared toward 15%, among the highest in emerging markets, even after sharp hikes in recent months.
3 Min Read
ISTANBUL (Reuters) - Turkey’s central bank held rates at 17% as expected on Thursday and promised to tighten more if needed to battle inflation that has soared toward 15%, among the highest in emerging markets, even after sharp hikes in recent months.
The lira rallied nearly 1% in response as analysts pointed to hawkish forward guidance that kept the door open to more interest rate hikes.
New bank Governor Naci Agbal had raised the one-week repo rate by 675 basis points from 10.25% since November to support the lira and address inflation, which has been mostly double digits for three years.
A recent rally in the currency from record lows and an economic slowdown heading into the winter led most analysts to expect no policy change.
Breakingviews
6 Min Read
SEATTLE (Reuters Breakingviews) - As the urgency of the climate crisis becomes impossible to ignore, private voluntary demand for “carbon credits” has surged. Corporate carbon-neutral pledges led to record volumes of carbon credit transactions in 2019, according to Ecosystem Marketplace, and initial evidence suggests that 2020 volumes may be even greater despite the pandemic. This is a positive sign. It indicates growing seriousness about the necessity of addressing climate change and, when coupled with support for ambitious government policy, is a truly welcome development.
Smoke rises from the Duvha coal-based power station owned by state power utility Eskom, in Mpumalanga province, South Africa, 18 February, 2020.