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Global markets: Hungary cuts base rate

By Commodity News Service Canada

WINNIPEG, April 26 – The following is a glance at the news moving markets globally.

HUNGARY’S NATIONAL BANK CUTS RATES
The National Bank of Hungary has cut its base rate by 15 basis points, according to reports on Tuesday, pushing the rate to a new low of 1.05 per cent.

Analysts say lower inflation attributed to the bank’s decision, in part.

CANADIAN DIRECT INVESTMENT UP
The stock of Canadian direct investment abroad rose 21.8 per cent to C$1,005.2 billion in 2015, the largest increase since 2008, Statistics Canada said in a report on Tuesday.

At the same time, the level of foreign direct investment in Canada was up 6.8 per cent to C$768.5 billion. As a result, Canada’s net direct investment position with the rest of the world more than doubled to C$236.8 billion in 2015.

According to StatsCan, the increase in the stock of Canadian direct investment abroad in 2015 largely reflected the impact of a weaker Canadian dollar, which added C$115.8 billion to the value of these assets.

SOUTH KOREA’S ECONOMY FALLS TO SLOWEST PACE IN THREE QUARTERS
South Korea’s economy has slowed to a fresh low, according to reports on Tuesday.

The country’s economy grew at 2.7 per cent in the first three months of the year, the slowest pace in three quarters, pressured by high household debt and low youth employment rates.

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