Tag: Confidence

Pakistan’s central bank to adopt a wait-and-see approach to spur business confidence, governor says

  • Pakistan’s central bank is in “wait-and-see” mode to give businesses the confidence they need to start investing again and keep people employed, Governor Reza Baqir said Wednesday.
  • The State Bank of Pakistan this week kept its policy rate unchanged at 7%.
  • Baqir said that the central bank does not see any demand-side pressure on inflation in the near term due to the coronavirus pandemic

Pakistan’s central bank is adopting a ‘wait-and-see’ mode, says governor

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SINGAPORE — Pakistan’s central bank is in “wait-and-see” mode to give businesses the confidence they need to start investing again and keep people employed, Governor Reza Baqir said Wednesday. 

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After reducing by 625 basis points since March, the State Bank of Pakistan this week kept its policy rate unchanged at 7%. In its policy statement, the central bank said that business confidence and the growth outlook have improved as

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Asian business confidence rebounds sharply, pandemic casts shadow: Thomson Reuters/INSEAD survey

By Nikhil Nainan

BENGALURU, India (Reuters) – Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.

Asian firms’ outlook for the next six months tracked by the Thomson Reuters/INSEAD Asian Business Sentiment Index <.TRIABS> <RACSI> jumped to 53 in the third quarter from an 11-year low of 35 in the second, according to the survey of 103 companies across 11 Asia-Pacific countries.

It was also higher than the 50-point mark, which indicates a positive outlook.

The survey comes as the easing of coronavirus restrictions across Asia has reduced pressure on hard-hit economies, though the experience has varied across the region, with some still in recession and others, like China, seeing a steady recovery.

More than two-thirds of the companies polled said they saw the pandemic, or a

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Asian business confidence rebounds sharply, pandemic casts shadow – Thomson Reuters/INSEAD survey

BENGALURU, India (Reuters) – Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.

FILE PHOTO: People wearing face masks following the coronavirus disease (COVID-19) outbreak walk at a shopping mall in Hong Kong, China July 20, 2020. REUTERS/Lam Yik/File Photo

Asian firms’ outlook for the next six months tracked by the Thomson Reuters/INSEAD Asian Business Sentiment Index jumped to 53 in the third quarter from an 11-year low of 35 in the second, according to the survey of 103 companies across 11 Asia-Pacific countries.

It was also higher than the 50-point mark, which indicates a positive outlook.

The survey comes as the easing of coronavirus restrictions across Asia has reduced pressure on hard-hit economies, though the experience has varied across the region, with some still in recession

Read More

Dollar set for weekly loss as economic confidence sags

By Eimi Yamamitsu

TOKYO, Sept 18 (Reuters)The dollar held tight ranges on Friday but was set for a weekly loss against major counterparts after downbeat data cast a shadow over the economic outlook, while positive comments from New Zealand’s finance minister helped prop up the kiwi.

The dollar =USD gave up gains made after the Federal Reserve upgraded its 2020 economic forecast this week to trade in negative territory on Thursday. It was last quoted at 92.923 against a basket of major currencies, on track for a 0.3% weekly loss.

U.S. data on Thursday showed jobless claims remained elevated at 860,000, while housing starts and the Philadelphia Fed business index fell.

The Fed said on Wednesday it expected the U.S. economy to shrink by far less than previously forecast in 2020 and promised to keep rates ultra-low for a prolonged period.

The dollar was little changed against

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Australia Business Conditions Soften, Confidence Still Fragile: Survey | Investing News

SYDNEY (Reuters) – A measure of Australian business conditions fell sharply in August reflecting weakness in employment, sales and profitability as Victoria relapsed into a coronavirus lockdown, and though confidence rose it still remained fragile.

National Australia Bank’s

index of business conditions slipped 6 points to -6 from 0 in July.

That was still higher than a low of -34 in April at the height of the pandemic though nowhere close to the long-run average of +6.

The survey’s measure of business confidence did rise but stayed in negative territory. It climbed to -8 from -14 in July.

The index of sales slipped to -2 from +1, and profitability to -3 from +1. Employment stumbled to -13, from -2 in July.

The decline in conditions was broad-based across states except for New South Wales of which Sydney is the capital city.

“Uncertainty around the virus and the global economy remains

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