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OTTAWA (Reuters) -If the buoyant Canadian dollar continues to rise it could create headwinds for exports and business investment as well as affecting monetary policy, Bank of Canada Governor Tiff Macklem said on Thursday.
FILE PHOTO: Bank of Canada Governor Tiff Macklem arrives to a news conference in Ottawa, Ontario, Canada September 10, 2020. REUTERS/Blair Gable/File Photo/File Photo
The currency has jumped about 4% since the central bank updated its projections in April, driven by surging commodity prices. Canada is a major exporter of energy, lumber, minerals and agricultural products. It hit a six-year high on Wednesday.
“We’ve highlighted that a stronger dollar does create some risk,” Macklem told reporters after a speech to university students in his most detailed comments yet about the potential drawbacks of a more muscular currency.
By Reuters Staff
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TAIPEI, April 29 (Reuters) - Taiwanese central bank policymakers will not rush to alter interest rates due to continued economic uncertainty about COVID-19, minutes of their March meeting showed on Thursday.
The central bank last month left its policy rate unchanged at 1.125%, the lowest on record, and raised its growth outlook for 2021 to 4.53% as strong exports bolstered the trade-reliant economy in the face of the pandemic.
All board directors supported keeping the policy rate unchanged at the meeting “based on the assessment of lingering uncertainties over domestic economic growth amid the unabated global coronavirus pandemic”, the minutes said.
Egypt's central bank left its overnight interest rates unchanged on Wednesday, saying inflation had stabilised and the economy was showing signs of recovery after more than a year of the coronavirus pandemic.
By Reuters Staff
1 Min Read SA Reserve Bank governor (SARB) Lesetja Kganyago gestures during a media briefing in Pretoria, file. REUTERS/Siphiwe Sibeko/File Photo
JOHANNESBURG (Reuters) - South Africa’s lending rate remains accommodative and sufficient to support an economic recovery, central bank governor Lesetja Kganyago said on Thursday, adding that the bank would keep targeting inflation to keep foreign investors happy.
“The interest rate differential that matters for capital flows isn’t the differential of the policy rate. What matters is the differential of the bond yields, and South African bond yields are still significantly higher than those is in the U.S and in real terms,” Kganyago said during a live webinar.
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DUBAI (Reuters) -The United Arab Emirates central bank said on Tuesday it has extended until mid-2022 some stimulus measures introduced last year to mitigate the impact of the coronavirus crisis on the economy.
FILE PHOTO: A general view of Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar/File Photo
The Targeted Economic Support Scheme (TESS) helps banks provide temporary relief to companies and individuals affected by the COVID-19 pandemic and facilitates additional lending capacity through the relief of existing capital and liquidity buffers.