By Reuters Staff
3 Min Read
MOSCOW, May 27 (Reuters) - The Russian debt market is resilient enough to potentially harsher Western sanctions against Moscow, given a recent decline in foreign investors’ holdings of Russian debt, the central bank said on Thursday.
The share of foreign investors among Russia’s OFZ treasury bond holders slumped to its lowest since mid-2015 in April, when the United States imposed new sanctions against Russia.
The new sanctions bar U.S. banks from buying Russian rouble-denominated sovereign debt from mid-June on top of the existing ban on purchasing sovereign Eurobonds directly from Russia.
“The potential for harsher sanctions may prompt investors to take extra steps. Nevertheless, even if they become harsher, the overall impact of sanctions is seen to be short-lived and limited due to the strong fundamentals of the Russian market,” the central bank said.
3 Min Read
LONDON (Reuters) - The Bank of England could raise interest rates as soon as the first half of next year if the job market bounces back faster than expected, but it is more likely to wait until later in 2022, BoE policymaker Gertjan Vlieghe said on Thursday.
FILE PHOTO: Bank of England Monetary Policy Committee Member, Gertjan Vlieghe looks on during a Reuters Newsmaker event in London, Britain July 12, 2019. REUTERS/Henry Nicholls
Sterling strengthened against the dollar and euro, and British government bond yields rose after Vlieghe’s remarks, which are the most explicit to date about when the BoE might start to reverse pandemic-era stimulus measures.
By Reuters Staff
(Corrects to remove “higher revenue” from headline)
May 27 (Reuters) - Toronto-Dominion Bank beat analysts’ estimates for quarterly profit on Thursday, driven by higher revenue from fees and as it released some reserves set aside to cover loan losses.
Net earnings excluding one-off items rose to C$3.78 billion ($3.12 billion), or C$2.04 Canadian cents a share, compared with C$1.6 billion, or 85 Canadian cents, a year earlier. Analysts had expected a profit of C$1.76 per share, according to IBES data from Refinitiv.
Canada’s second-largest lender reported overall net profit of C$3.7 billion for the three months ended April 30, or C$1.99 a share, up from C$1.52 billion or 80 Canadian cents, a year ago.
Bulgaria's interim economy minister said he would dismiss two of the three members of the supervisory board of Bulgarian Development Bank on Thursday in an effort to improve transparency in the way the state-owned lender operates.
Taiwan is considering boosting a loan facility to help small and medium sized firms hit by the COVID-19 pandemic, and may extend it to individuals, with almost $20 billion available, sources briefed on the matter told Reuters.