Trading Floors Buzz With Excitement as BOJ Axes Negative Rates
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
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One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
China Evergrande Group’s alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.
Vietnamese prosecutors sought the death penalty for real estate tycoon Truong My Lan, indicted in a $12 billion fraud case for her role in bribing government officials, violating bank lending rules and embezzling funds, VnExpress news website reported.
Japan’s real estate shares were the biggest winners on Tuesday after a widely expected move by the Bank of Japan to end its negative rates regime, with investors focusing on the dovish tone by the central bank and the inflation outlook.
The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
May 23, 2017
Almost one quarter (24 per cent) of homeowners in Canada say they've come up short paying their bills in the last year, according to a new survey released by Manulife Bank of Canada, in the latest sign that over-indebted Canadians are being stretched beyond their means.
The survey also shows 70 per cent of Canadians with mortgages would not be able to make their payments if they rose 10 per cent. More than half (51 per cent) only have $5,000 or less in a rainy day fund -- and one fifth don't have anything set aside for financial emergencies.
“The truth about debt in Canada is that many homeowners are not prepared to adjust to rising interest rates, unforeseen expenses or interruption in their income,” said Manulife Bank of Canada Chief Executive Officer Rick Lunny in a statement released Tuesday.
The survey also underscores the extent to which ‘the bank of mom and dad’ is supporting Canadian millennials in their dream of cracking the housing market. Forty-five per cent of millennial homeowners surveyed say they either received cash or a loan from their family when they purchased their first home.
Meanwhile, four out of every 10 (41 per cent) Canadian baby boomers say more than 60 per cent of their household wealth is tied up in their home.
“Many boomers approaching retirement share the same lack of financial flexibility as millennials," added Lunny. "They want to remain in their current homes, but their home makes up a big part of their net worth."