A surprise rate hike by Indonesia’s central bank underlines expectations that the start of monetary policy easing is looking increasingly far off for many Asian central banks, if it is on the horizon at all.
Macquarie’s assault on major banks will force CBA to lift investment, as Mike Vacy-Lyle confirms it will target real estate agents with a new software product.
Indian companies are set to borrow more than $25 billion abroad this year, trumping the $19 billion raised in 2022, according to a top HSBC executive. The UK-headquartered bank has emerged as the No. 1arranger of foreign currency loans this year across league tables.
It could raise funds for as low as 6.5% interest cost including the cost of currency hedging if its first attempt at a Yen bond sale is successful. That would be at least 100 basis points or a percentage point lower than if it were to borrow in US dollars given that yields in that country are at multi-year highs.
By Mizuho’s own admission, the bank lacks scale to compete on deals with larger U.S. rivals, and hiring bankers away from these Wall Street giants can be challenging.