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At a glance: worldwide credit conditions.
CREDIT BRIEFINGS
CREDIT BRIEFINGS ECB DROPS RATES. The European Central Bank decided on June 5 to cut its main policy variable by 50 basis points, to 2.0%. The move is expected to reduce the euro's strength and boost sagging exports, but broader effects will not appear until later this year.
DOLLAR DOWN. The U.S. dollar has fallen 8.8% on the Federal Reserve's broad index, and 17% against the major currencies index, since its peak in February 2002, but it is up 2.4% against the Pacific Rim nations and other emerging economies. The decline is greatest against the euro, with the dollar down 27% since the June 2001 dollar/euro peak. Although the weak ...
- Chinese reforms.(Credit Briefings)(Brief Article)
- Magazine article from: Business Credit Hansen, Fay April 1, 2004 700+ words
CHINESE REFORMS. Finance officials in China announced a series of reforms in mid-February to stabilize the country's finance system and reduce the risks stemming from its debt-heavy banks and developing equity and insurance markets. The reforms include speeding up bank reorganization, slowing the
- Indian investment.(Credit Briefings)(Brief Article)
- Magazine article from: Business Credit Hansen, Fay March 1, 2004 700+ words
India raised the ceiling on foreign investments in January to attract more capital into the rapidly growing economy, The government increased the limit on foreign investment in banks to 74%, up from 49%,and removed limits on foreign oil and gas exploration. The cap on foreign investment in
- European hit.(Credit Briefings)(Brief Article)
- Magazine article from: Business Credit Hansen, Fay March 1, 2004 700+ words
European companies are taking a serious hit from the high euro. The euro is now up 20 percent over the dollar from a year ago and more than 50 percent from its October 2000 low. Volkswagen lost $1.5 billion from unhedged currency swings in 2003. Peugot Citroen projects 2004 loses of $750 million
- Turkey Rises. (Credit Briefings).(Brief Article)
- Magazine article from: Business Credit February 1, 2003 700+ words
Coface the French rating agency, placed Turkey's C rating on its positive watch list in December 2002. noting that the economy is recovering faster than expected and the inflation trend is better than the objectives targeted by the government. The new administration elected in November 2002 by a
- EU Inflation. (Credit Briefings).(Brief Article)
- Magazine article from: Business Credit February 1, 2003 700+ words
Inflation is stable at 2.1% in the 15 EU member nations, but ranges widely in the 10 acceding countries, with rates as high as 7.0% in Slovenia and as low as -0.9 in Lithuania. Among the major acceding countries, the inflation rates are: Poland -1.3%; Czech Republic -0.2%; Estonia -3.1%; and
- Maquiladoras Decline. (Credit Briefings).(Brief Article)
- Magazine article from: Business Credit February 1, 2003 700+ words
Intense price competition from overseas is challenging Mexico's maquiladoras. New NAFTA regulations and rising real wages are pushing manufacturers to shift work to cheaper locations in China and Southeast Asia Mexico will have to shift resources to higher value-added manufacturing to support its
- Consumer credit.(Credit Briefings)(Brief Article)
- Magazine article from: Business Credit Hansen, Fay November 1, 2004 700+ words
U.S. consumer credit dropped an annual rate of 1.4% in August, the largest decline in six years. Revolving credit fell sharply while nonrevolving credit registered slow growth. Fay Hansen is a business and finance writer based in Cresskill, NJ.
- Indian growth.(Credit Briefings)(Brief Article)
- Magazine article from: Business Credit Hansen, Fay November 1, 2004 700+ words
India's GDP rose at an annual rate of 7.4% during the second quarter off 2004, with strong manufacturing and service sector growth compensating for slower agricultural growth. Although the second quarter rate was slower than the first quarter's 8.2%, India's economy will record an exceptionally