Icelandic FX Market. March Hagsjá
|
|
- Lora Richardson
- 5 years ago
- Views:
Transcription
1 Hagsjá Icelandic FX Market March March 217 The euro depreciated in February and dipped to ISK 112. in early March. It has picked up since and stood at ISK on 2 March, as compared with ISK at year-end 216. The ISK weakened somewhat on Monday morning, 13 March, following the announcement on the weekend about the abolition of capital controls. The Central Bank of Iceland (CBI) intervened later that day, selling a total of EUR 12 m (ISK 1.4 bn) MTD YTD EUR % -.8% USD % -3. GBP % -2.3% DKK % -.8% SEK % -1.1% NOK 12.4.%. CHF % -1.% JPY %.3% Source: Thomson Reuter Eikon This is the first time since November 214 that the CBI is net seller of EUR on the FX interbank market. The ISK has fluctuated considerably more against the EUR since the beginning of the year. Fluctuations in the ISK exchange rate can be expected to be more pronounced going forward than in recent years. Travellers through Leifsstöð International Airport increased by 47.3% in February between years. There was an ISK 7.6 bn surplus of the payment card balance this month. The real exchange rate in terms of price levels decreased by 6.8% MoM in February. As a result, the 12M increase of the real exchange rate is 11.7%. ISK/EUR and ISK/USD exchange rate Last date 2 March Landsbankinn hf.
2 Volatility - 6 day moving average Jan 2 = 1 1 Jan 216 = 1 The British pound has decreased most among Iceland's main trading partner currencies. The CBI represents 3% of total turnover on the FX market in March to date EUR USD GBP NOK SEK TWI 1 8% 9 7% 8 6% 7 6 % 4 3% % % Of which CBI Other CBI's share (r-axis) Last date 2 March 217 Source: Thomson Reuters Datastream Net currency purchases by the CBI from the beginning of 214 amount to ISK 8 bn. First 14 days of March The 12M increase in the real exchange rate in February is 11.7%. 1, % % Gross official reserves Accumulated purchace Non-leveraged reserves *) 2 % -1% *) Foreign currency reserves less debt owed by the CBI and the national treasury in foreign currencies., GDM YoY change (r.axis) Real exchange rate Volatility in the ISK has increased since the beginning of the year. 16% 1 1 1% 8% 6% % EUR/ISK EUR/NOK EUR/SEK Last date 16 March 217, Economic Research's calculations 2 The FX market 22 March 217 Landsbankinn hf.
3 ISK billions YoY changes 149, foreign travellers departed from the country in February, which is a 47% increase YoY. 1% 8% There was an ISK 7.6 bn surplus on the payment card balance 3 3 6% % Number of foreign visitors Source: The Icelandic Tourist Board. 12M Moving average The current account surplus amounted to ISK 194 bn last year Secondary income, net Balance on services Current account 194 Balance on primary income Balance on goods Payment card balance of payment Foreign cards in Iceland Domestic cards abroad Both Economic Research and the CBI expect a current account surplus in coming years Landsbanki (Nov 216 forecast) CBI (Feb 217 forecast) Forecast current account balance., Landsbankinn Economic Research 1 CBI (Nov 216 forecast) According to preliminary figures, the foreign trade deficit amounted to ISK 1.9 bn in February. Iceland's foreign assets in excess of foreign liabilities amount to ISK 26 bn Preliminary figures Thereof ships and aircraft Excl. ships and aircraft Trade in goods balance Source: Statistics Iceland , -1, , Net International Investment Position IIP excluding DMBs undergoing winding up Estimated underlying IIP, Economic Research s calculations The FX market 22 March 217 Landsbankinn hf.
4 Q4 21 Q1 216 Q2 216 Q3 216 Q4 216 Q4 21 Q1 216 Q2 216 Q3 216 Q4 216 Q4 21 Q1 216 Q2 216 Q3 216 Q4 216 bid yield EUR/ISK interest rate differential The net interest differential against the EUR lies between and 6 percentage points. Adjusted for the CBI's currency auctions and Treasury note maturities, there has been little change to nonresident holdings of Treasury notes. 8% 2 4 7% 6% 2 2 % 1 3% % % M Y 1Y Last date 2 March Source: GDM MoM change (r.axis) Foreign ownership of Treasury bonds Adjusted for currency auctions and maturities -6 Arion Bank, Íslandsbanki and Landsbankinn net currency positons are close to neutral Yields on EUR -denominated Treasury notes have fallen. % 3% 1% - % Arion Íslandsbanki Landsbankinn Source: Financial statements of relevant financial undertaking EUR 2.% 1 Jul 22 USD.87% 11 May 222 Last date 2 March The FX market 22 March 217 Landsbankinn hf.
5 The contents and form of this document were produced by employees of Landsbankinn Economic Research and are based on information available to the public when the analysis was compiled. Assessment of this information reflects the views of Economic Research s employees on the analysis date, which may change without notice. Neither Landsbankinn hf. nor its personnel can be held responsible for transactions based on the information and opinions expressed here as the content is not provided as personal advice on individual transactions. Attention should be drawn to the fact that Landsbankinn hf. may, at any time, have direct or indirect interests at stake either on its own behalf or through its subsidiaries or customers, for instance as an investor, creditor or service provider. Nonetheless, all analyses are prepared independently by Landsbankinn Economic Research and in accordance with the bank s rules on separation of activities accessible on the Landsbankinn website. The FX market 22 March 217 Landsbankinn hf.
26. February Markets. Landsbankinn Economic Research
6. February 8 Equity Ticker Price Volume Past performance (ISK bn.) YTD W M 3M M OMXI8 77.3 6. 8.3% 7.%.%.6%.% OMXI8GI 999.8 8.3% 7.%.%.6%.% Marel 367.. 3.6%.6%.9%.9% 3.% Icelandair 6..7 9.% 8.% -3.%.3%.6%
More information20. November Markets. Landsbankinn Economic Research
. November 7 Equity Ticker Price Volume Past performance (ISK bn.) YTD W M M M M OMXI 7..7 -.% -.% -.% -.% -.% -.% OMXIGI 9..% -.% -.% -.% -.%.% Marel...9% -.9% -.% -7.% -9.%.% Icelandair.. -9.% -.%.9%.%.%
More information2. October Markets. Landsbankinn Economic Research
. October 7 Equity Ticker Price Volume Past performance (ISK bn.) YTD W M 3M M M OMXI8.9. -3.%.8% -.8% -.% -.% -.7% OMXI8GI 87. -.3%.8% -.8% -.% -.9% -.% Marel 33..7.%.9%.%.%.7% 39.9% Icelandair.8. -3.7%
More informationWhere is the króna headed? Exchange rate will remain fragile in the short term. Good long-term outlook for the króna
The Icelandic króna April 28 Where is the króna headed? The ISK exchange rate bears the hallmarks of an overshooting that will readjust itself in the longer term. In the short term, however, the króna
More information26 Febuary Macro Overview. Landsbankinn Economic Research
Febuary 8 Inflation Jan 8 Dec 7 Jan 7 CPI YoY..9.9 Contribution of individual components : Imp. goods excl. alcohol, tobacco and petrol -. -. -. Petrol... Housing..7.8 Domestic goods excl. agricultural
More informationGlitnir banki hf. Financial information as at 30 September November 2010
Glitnir banki hf. Financial information as at 30 September 2010 November 2010 1. Introduction 01. 2. Financial information 3. Appendix 2 Financial information Introduction The Statement of Assets and Liabilities
More informationForeign exchange market, exchange rate developments, and international reserves 2018
No. 2/2019 January 18, 2019 Foreign exchange market, exchange rate developments, and international reserves 2018 The króna depreciated by 6.4% in 2018, and turnover in the interbank foreign currency market
More informationThird quarter results 2018 Investor presentation 31 October 2018
Third quarter results 2018 Investor presentation 31 October 2018 Q3 2018 Highlights during the quarter Earnings before tax from regular operations were stable from Q2 The impairment relating to the credit
More informationCENTRAL BANK POLICY RATE Íslandsbanki Research
CENTRAL BANK POLICY RATE 8..218 Íslandsbanki Research Summary Our forecast: unchanged policy rate on 16 May Outlook broadly unchanged since March, when the MPC unanimously held the policy rate unchanged
More informationCredit Suisse Swiss Pension Fund Index Q1 2018
Credit Suisse Swiss Pension Fund Index Q1 2018 Q1 2018: 1.33% Performance correction in Q1 2018 Negative contribution from all asset classes except real estate and mortgages Equity component shows a fall
More informationEconomic Indicators Central Bank of Iceland August 2010
Economic Indicators Central Bank of Iceland August 1 I Inflation and inflation expectations I-1 Inflation I- Inflation: Various measurements 1-month change 1 1 1 1 1 1999 1 3 7 9 1 Core inflation 1 Core
More informationCENTRAL BANK POLICY RATE
CENTRAL BANK POLICY RATE 28 Oct 2017 Íslandsbanki Research Summary Our forecast: unchanged policy rate on October We expect neutral forward guidance Political uncertainty and rising breakeven inflation
More informationGlitnir hf. Statement of Assets and Liabilities Incorporating an estimate of the value of assets as at 31 March 2015 and a computation of liabilities
Glitnir hf. Statement of Assets and Liabilities Incorporating an estimate of the value of assets as at 31 March 2015 and a computation of liabilities 27 May 2015 1 Disclaimer This document includes a Statement
More informationStatement of Assets and Liabilities Incorporating an estimate of the value of assets as at 30 June 2012 and a computation of liabilities
Glitnir hf. Statement of Assets and Liabilities Incorporating an estimate of the of assets as at 30 June 2012 and a computation of liabilities 19 September 2012 1 Disclaimer This document includes a Statement
More informationManagement Accounts. 1 January to 30 September Unaudited. Kaupthing ehf. Borgartún Reykjavík Iceland Reg. no.
Management Accounts 1 January to 30 September 2016 Kaupthing ehf. Borgartún 26 105 Reykjavík Iceland Reg. no. 560882-0419 Unaudited ContentS Page Statement by the Board of directors... 3-4 Income Statement...
More informationEconomic Indicators Central Bank of Iceland September 2011
Economic Indicators Central Bank of Iceland September 11 I Inflation and inflation expectations I-1 Consumer price inflation and core inflation I- Inflation: various measurements 1-month change 1 1 1 1
More informationEconomic Indicators Central Bank of Iceland May 2010
Economic Indicators Central Bank of Iceland May 1 I Inflation and inflation expectations I-1 Inflation I- Inflation: Various measurements 1-month change 1 1 1 1 1 1999 1 3 7 9 1 Core inflation 1 Core inflation
More informationIcelandic Economic Situation. September 2018
Icelandic Economic Situation September 18 Key points Expecting soft landing of economic growth Major contributor is private consumption but investment, export and public consumption contribute to the growth
More informationLandsbankinn: Financial Results. January June 2017
Landsbankinn: Financial Results January June 2017 27 July 2017 Press release accompanying the semi-annual financial statements of Landsbankinn for the year 2017 Landsbankinn reports a profit of ISK 12.7
More informationGDM Central Bank of Iceland Kalkofnsvegi Reykjavík Web: lanamal.is
GDM Central Bank of Iceland Kalkofnsvegi 1 15 Reykjavík Web: lanamal.is E-mail: lanamal@lanamal.is Vol. 15 - No. 7 uly 1 Quarterly Government Debt Management Prospect, Q3/1 According to the Quarterly Government
More informationARION BANK INVESTOR PRESENTATION 1H 2017
ARION BANK INVESTOR PRESENTATION 1H 2017 Overview 1 Strong Economy 2 Leading Universal Banking Franchise in Iceland 3 Significant Improvement in Asset Quality and Positive Outlook 4 Strong Capital Position
More informationFinancial Statements 30 June Investor presentation 23 August 2017
Financial Statements 30 June 2017 Investor presentation 23 August 2017 H1 2017 highlights 1 2 First step in the sale of Arion Bank, largest equity portfolio investment by foreign parties in Icelandic history
More informationFOREIGN EXCHANGE RESERVES
FOREIGN Management of Norges Bank s foreign exchange reserves 4 16 FEBRUARY 17 REPORT FOR FOURTH QUARTER 16 Contents Management of the foreign exchange reserves... 3 The foreign exchange reserves... 4
More informationManagement Accounts for the year ended 31 December 2016
Management Accounts for the year ended 31 December 2016 Kaupthing ehf. Borgartún 26 105 Reykjavík Iceland Reg. no. 560882-0419 Unaudited ContentS Page Statement by the Board of directors... 3-4 Income
More informationFourth quarter results 2018 Investor presentation 13 February 2019
Fourth quarter results 2018 Investor presentation 13 February 2019 Q4 2018 Highlights during the quarter Positive core banking trends compared with Q4 2017 Impairments and difficult equity and bond markets
More informationGrowing optimism in domestic markets
Financial markets and Central Bank measures 1 Growing optimism in domestic markets Domestic markets have been upbeat since the second half of June. The króna has appreciated by nearly 1 and domestic equity
More informationLBI. Management Accounts
LBI Management Accounts 1 July to 30 September 2016 Endorsement by the Board of Directors and the CEO LBI ehf. (hereafter "LBI" or the Company ) is a private limited liability company incorporated and
More informationLBI ehf. Annual Financial Statements. LBI ehf. Álfheimum Reykjavík Reg. No
Annual Financial Statements 2015 Álfheimum 74 104 Reykjavík Reg. No. 540291-2259 Annual Financial Statements 2015 Content Endorsement by the Winding- up Board 2-5 Income Statement 6 Balance Sheet 7 Statement
More informationÍslandsbanki Factbook
1Q18 Íslandsbanki Factbook @islandsbanki 440 4000 Supplementary information for market participants (Unaudited) íslandsbanki.is Contents Page Investor relations information 3 Overview Highlights 4 Key
More informationUpdated macroeconomic forecast
Prepare for landing: Updated macroeconomic forecast 217-219 26 January 218 Íslandsbanki Research Executive summary The Icelandic economy has been buoyant in the past few years, after the deep recession
More informationCredit Suisse Swiss Pension Fund Index Q1 2017
Credit Suisse Swiss Pension Fund Index Q1 217 YTD 217: 2.76% Q1 217: 2.76% Credit Suisse Pension Fund Index starts year at all-time high Allocation to foreign equities at all-time high; allocation to Swiss
More informationIceland Leading Indicator Slower tourism growth
News release no. 7/217 217.7.18 Iceland Leading Indicator Slower tourism growth The Iceland Composite Leading Indicator (CLI) dropped in June by.3 per cent. Also, the values for March through May are revised
More informationKEY CONCEPTS. Understanding Currencies
KEY CONCEPTS Understanding Currencies TABLE OF CONTENTS WHAT IS FOREX?...3 HOW FOREX IS TRADED...5 WHERE CAN I TRADE FOREX?...6 WHY TRADE FOREX?...6 TERMINOLOGY...7 AN EXAMPLE OF A CFD FOREX TRADE...9
More informationGlitnir HoldCo ehf. Consolidated Interim Financial Statements 1 January to 30 June Glitnir HoldCo ehf. Sóltún Reykjavík Iceland
Glitnir HoldCo ehf. Consolidated Interim Financial Statements 1 January to 30 June 2016 Glitnir HoldCo ehf. Sóltún 26 105 Reykjavík Iceland Reg. no. 550500-3530 Contents Endorsement by the Board of Directors
More informationREPORT ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM
REPORT ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM December 215 Introductory note A more extensive use of the dinar in the financial system and better currency matching of income and expenses of the
More informationIceland s Pension Funds in the Era of Capital Controls Liberalization Navigating the Uncertain Road Ahead Gunnar Baldvinsson
Iceland s Pension Funds in the Era of Capital Controls Liberalization Navigating the Uncertain Road Ahead Gunnar Baldvinsson Iceland s Pension Funds in the Era of Capital Controls Liberalization: Navigating
More informationLesson II: Overview. 1. Foreign exchange markets: everyday market practice
Lesson II: Overview 1. Foreign exchange markets: everyday market practice 2. Forward foreign exchange market 1 Foreign exchange markets: everyday market practice 2 Getting started I The exchange rates
More informationThe new liquidity measurement model developed by the Hungarian Central Bank during the financial crisis
The new liquidity measurement model developed by the Júlia Király Deputy Governor 29 November 212 Content Liquidity and measurement prior to the crisis New measures and new data collection during the crisis
More informationWisdomTree & Currency Hedging FOR FINANCIAL PROFESSIONAL USE ONLY. FOR FINANCIAL PROFESSIONAL USE ONLY.
WisdomTree & Currency Hedging Currency Hedging in Today s World The influence of central bank policy Gauging the impact currency has had on international returns Is it expensive to hedge currency risk?
More informationCredit Suisse Swiss Pension Fund Index Q2 2017
Credit Suisse Swiss Pension Fund Index Q2 217 YTD 217: 3.94% Q2 217: 1.15% Positive second quarter, with slowdown in June Significant positive contribution from Swiss equities in reporting quarter Sharp
More informationCredit Suisse Swiss Pension Fund Index Q3 2015
Credit Suisse Swiss Pension Fund Index Q3 2015 YTD 2015: 1.47% Q3 2015: 1.31% Return on the Credit Suisse Pension Fund Index continues to fall, despite good July performance Annualized returns fall, while
More informationFixed Income Investor Review July 23, 2008
Fixed Income Investor Review July 23, 2008 Gary Crittenden, CFO Zion Shohet, Treasurer Agenda Citi Overview Balance Sheet Management Capital Markets & Funding Q & A 1 Citi Overview Gary Crittenden, CFO
More informationNATIONAL BANK OF SERBIA R E P O R T ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM. June 2014
NATIONAL BANK OF SERBIA R E P O R T ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM June 214 Belgrade, September 214 Introductory note A more extensive use of the dinar in the financial system and better
More informationExecutive Board meeting
Executive Board meeting August 7 Growth forecasts Consensus Forecasts GDP. Percentage change on previous year 9 8 7 7 8 9 Forecasts June Forecasts June 8 Forecasts July World North Western Japan America
More informationFinancial Statements 31 March Investor presentation 2 May 2018
Financial Statements 31 March 2018 Investor presentation 2 May 2018 Q1 2018 Highlights Mortgages and corporate loans continue to grow at a healthy pace with good asset quality Large liquidity buffer and
More informationSaudi Arabian Economy
Research Department ARC Research Team Tel. +966 11 211 9449, alsudairim@alrajhi-capital.com Saudi Arabian Economy Saudi economy: Reforms on track The Government announced an increase in gasoline prices
More informationNATIONAL BANK OF SERBIA REPORT ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM
NATIONAL BANK OF SERBIA REPORT ON DINARISATION OF THE SERBIAN FINANCIAL SYSTEM June 216 Introductory note A more extensive use of the dinar in the financial system and better currency matching of income
More informationCredit Suisse Swiss Pension Fund Index Q1 2016
Credit Suisse Swiss Pension Fund Index Q1 216 Q1 216:.49% Disappointing start to the year with a glimmer of light in March Swiss equity quota at a new low real estate continues at a new high Significant
More informationMonthly turnover January 2002 to September 2003
Market Summary January-September 2003 Trading on the Iceland Stock Exchange (ICEX) amounted to ISK 1,178 billion (bn) during the first nine months of this year, an increase of 44% over the same period
More informationNews release no. 9/ Iceland Leading Indicator Clear signs of economic slowdown ahead
News release no. 9/2018 2018.09.14 Iceland Leading Indicator Clear signs of economic slowdown ahead The Iceland Composite Leading Indicator (CLI) dropped in August and the value for July has been revised
More information2.1 Supply. Nominal Farm Income. Bank of Thailand, November Real Farm Income
Bank of Thailand, November 2.1 Supply Farm income contracted from both decreased agricultural prices and production. Manufacturing and services sector activities expanded from the same period last year.
More informationEUR billions (b.kr.) 2000 Q3/2008 Q3/
6 This chapter presents Iceland s international investment position, both gross (IIP) and net (NIIP). It discusses pre-crisis debt accumulation and post-crisis developments, describes changes in foreign
More informationThe NASDAQ OMX Group. Q309 Earnings Presentation. November 5, 2009
The NASDAQ OMX Group Q309 Earnings Presentation November 5, 2009 Disclaimers Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication contains forward-looking statements
More information12 November M2015 Financial Results
12 November 2015 9M2015 Financial Results Forward Looking Statements Important information All information contained in this presentation should be regarded as preliminary and based on company data available
More informationPRESS CONFERENCE 2 November 2012
PRESS CONFERENCE 2 November 212 3Q 212 Fund s market value Quarterly numbers, 3 September 212. Billions of kroner 4 3 5 Asset class Value Percentage fund Equities 2 247 6.3% 3 723 4 3 5 3 Fixed Income
More information22 August Q2014 Financial Results
22 August 2014 2Q2014 Financial Results Forward Looking Statements Important information All information contained in this presentation should be regarded as preliminary and based on company data available
More informationThe balance of all cash accounts as at 30 June 2011 is w ithout any discount and including accrued unpaid interest up to 30 June 2011.
The valuation methodology for each asset class is abbreviated below. Cash in hand Loans to and claims against credit institutions Loans to customers Bonds and debt instruments Shares and instruments w
More informationNews release no. 8/ Iceland Leading Indicator A likely GDP contraction or stagnation ahead
News release no. 8/218 218.8.17 Iceland Leading Indicator A likely GDP contraction or stagnation ahead The Iceland Composite Leading Indicator (CLI) dropped in July and the value for June has been revised
More informationCapital Market Press Conference 2013 / Frankfurt, 5 December 2013
Capital Market Press Conference 2013 / 2014 Frankfurt, 5 December 2013 Key financial figures of KfW Group (IFRS) 2013: Solid business performance, decreasing profit, very sound capital basis 2011 2012
More informationIcelandic Economic and Fiscal Situation. August 2017
Icelandic Economic and Fiscal Situation August 7 Key points The economy has continued its strong rebound (GDP growth exceeded 7 in 6) Two major contributors terms of trade and tourism Solid internal and
More information2.1 Supply. Nominal Farm Income. Bank of Thailand, October 2017
Bank of Thailand, October 2.1 Supply Farm income contracted from both decreased agricultural prices and output. Manufacturing production remained unchanged from the same period last year. The overall services
More informationNews release no. 13/ Iceland Leading Indicator A recession on the horizon?
News release no. 13/2018 2018.12.19 Iceland Leading Indicator A recession on the horizon? The Iceland Composite Leading Indicator (CLI) dropped in November for the tenth consecutive month. The 12 months
More informationHighlights 2/2017. Main topics: Ministry of Finance of the Republic of Bulgaria. Economic and Financial Policy Directorate ISSN
BULGARIAN месечен ECONOMY обзор Monthly Report Ministry of Finance of the Republic of Bulgaria 2/217 Economic and Financial Policy Directorate ISSN 2367-2 Main topics:» Gross domestic product» Short-term
More informationGlitnir banki hf. Statement of Assets and Liabilities. 6 February 2009
Glitnir banki hf Statement of Assets and Liabilities Incorporating an estimate of the value of assets and a computation of liabilities 6 February 2009 Disclaimer This document includes a Statement of Assets
More informationLooking back on a good year
Looking back on a good year Profit at USD 111.2 million, up by USD 44.7 million, or 67% EBITDA in 2015 at USD 219.0 million, as compared to USD 154.3 million in 2014 Operating revenue increased by 2% between
More informationRUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY CHALLENGES RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY CHALLENGES. Bank of Russia.
RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY CHALLENGES Bank of Russia June 218 < -1% -9-8% -7-6% -5-4% -3-2% -1 % 1 2% 3 4% 5 6% 7 8% 9 1% 11 12% 13 14% 15 16% > 17% Share in the consulmer basket, % RUSSIAN
More informationForecasting liquidity and conducting credit operations
Irene Katsalirou Money Market and Liquidity Division Directorate General Market Operations Forecasting liquidity and conducting credit operations ECB Central Banking Seminar Frankfurt am Main, 12 July
More informationExecutive Board meeting
..9 Executive Board meeting June 9 Equity markets Indices. January =. Daily figures. January June 9 Euro area Norway US Emerging economies Japan Jan- Jun- Nov- Apr- Sep- Feb-9 Jul-9 Source: Thomson Reuters
More informationSupply. Nominal Farm Income. Economic and Monetary Conditions, Febuary Real Farm Income. Manufacturing Production Index (MPI)
Economic and Monetary Conditions, Febuary Supply Farm income continued to contract, attributed mainly to decreased agricultural prices which outweighed the expansion in agricultural production. Manufacturing
More informationDANMARKS NATIONALBANK
DANMARKS NATIONALBANK THE DANISH EXPERIENCE WITH NEGATIVE INTEREST RATES Lars Rohde, Chairman of the Board of Governors, 2 October 217 Agenda 1. Background on monetary policy regime 2. Negative policy
More informationCONTENTS. 2. Implementation of monetary policy Inflation Money market Capital market... 10
CONTENTS 1. Monetary developments... 3 1.1. Factors affecting the development of the money supply... 3 1.2. Structure of the money supply... 5 1.3. Bank lending... 6 1.4. Interest rate development in October
More informationGOVERNMENT SECURITIES MANAGEMENT
GOVERNMENT SECURITIES MANAGEMENT MAY 17, 2017 DIRECTORATE OF GOVERNMENT DEBT SECURITIES DIRECTORATE GENERAL OF BUDGET FINANCING AND RISK MANAGEMENT MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA DEBT
More informationand transfers in foreign currency in Denmark Consumers Effective from 19. May 2017
This is a translation of an original document in the Danish language. In case of discrepancies, the Danish version prevails. and transfers in foreign currency in Denmark Consumers Effective from 19. May
More informationStatistical Press Release Lisboa, 8 th September 2010
Statistical Press Release Lisboa, 8 th September 2010 Statistics for Portugal compiled in the framework of the Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity Turnover
More informationE.ON International Finance B.V. Interim Report January June Rotterdam, the Netherlands
Interim Report 2012 1 January 2012 30 June 2012 Rotterdam, the Netherlands Contents 2 Company Board and Management 3 Report of the Board of Management 3 Statement from the Board of Management 5 Condensed
More informationThe Economic Letter July 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter July 2018 Summary: In July 2018, real sector indicators progressed in relation to the preceding month. Both imports
More informationWeekly Macroeconomic Review
20/12/2011 Weekly Macroeconomic Review Expectations derived from the capital market Our forecast Inflation in the coming months Future cumulative inflation next 12 CPIs (through November 2012 CPI) Inflation
More informationCover Pool ( mn.) 3.399, , , , , ,5 of which derivatives ( mn.)
Wuestenrot Bank AG Pfandbriefbank Hohenzollernstrasse 46 D-71630 Ludwigsburg, Germany Phone: +49 7141 16-1 Fax: +49 7141 16-4984 Internet: www.wuestenrot.de Publication according to section 28 para. 1
More informationNo. 5/2014. Information Bulletin
No. 5/2014 Information Bulletin No. 5/2014 Information Bulletin Warsaw, 2014 Compiled from NBP materials by the Department of Statistics as at July 14, 2014. Layout and print: NBP Printshop Published by:
More informationMedium-Term Debt Management Strategy
Medium-Term Debt Management Strategy 2018-2022 Ministry of Finance and Economic Affairs November 2017 Medium-Term Debt Management Strategy 2018-2022 Medium-Term Debt Management Strategy 2018-2022 2017
More informationLesson II: A Deeper Insight into Everyday FX Market Practice
Lesson II: A Deeper Insight into Everyday FX Market March 6, 2017 Table of Contents Getting Started Some useful trading jargon: Bid: rate at which a certain market player is willing to buy Ask: rate at
More informationand other public holidays in England).
Payment Table The timetable set out in the Payment Table may be suspended in certain circumstances which are beyond our control (for example, for cheques if a non-clearing day has had to be declared because
More informationDear Security Holder. 9 June 2017
Dear Holder Re: ETFS Foreign Exchange Limited (the Company ) Accounting period ended 31 December 2016 UK Information to Holders 9 June 2017 The of the Company set out below have been approved as s by HM
More informationREGULATION FOR SETTING AND MANAGEMENT OF OPEN CURRENCY POSITION LIMITS FOR AUTHORIZED BANKS OPERATING IN AZERBAIJAN REPUBLIC
State registration with the Ministry of Justice of Azerbaijan Republic Registration No. 2657 February 8, 2001 Minister F.F. Mammadov Approved by Resolution of January 31, 2001 by the Management Board of
More information2017 Q1 Management Accounts INVESTOR MEETING 14:00 BST 24 MAY 2017
2017 Q1 Management Accounts INVESTOR MEETING 14:00 BST 24 MAY 2017 DISCLAIMER LBI ehf. (formerly Landsbanki Íslands hf.) ( LBI ) was in winding-up proceedings in accordance with the provisions of Act no.
More informationThe Economic Letter December 2016
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter December 2016 Summary: In 2016, real sector indicators were mixed and their varied performance pointed to another year
More informationSupply. Bank of Thailand, December Nominal Farm Income. Real Farm Income. Manufacturing Production Index (MPI)
Bank of Thailand, December Supply Farm income continued to decline from decreased agricultural prices which outweighed the expansion in agricultural production Manufacturing production expanded from the
More informationThe Renminbi: Now in the Basket of Special Drawing Rights (SDR)
The Renminbi: Now in the Basket of Special Drawing Rights (SDR) Lawrence J. Lau 刘遵义 Ralph and Claire Landau Professor of Economics, The Chinese University of Hong Kong and Kwoh-Ting Li Professor in Economic
More informationInvestment Research General Market Conditions Tuesday, 28 August 2012
Investment Research General Market Conditions Tuesday, 28 August 2012 Danske Daily Key news US stocks closed unchanged Asian markets are slightly lower The Shanghai composite remains near a three-year
More informationHighlights Q EBITDA forecast for 2015 raised to USD million. Higher passenger revenue and lower fuel price resulting in higher EBITDA
ICELANDAIR GROUP PRESENTATION OF Q2 2015 RESULTS 28 JULY 2015 Highlights Q2 2015 1 2 3 EBITDA USD 50.3 million improving by USD 5.0 million from 2014 Higher passenger revenue and lower fuel price resulting
More informationFOREIGN EXCHANGE RESERVES
FOREIGN Management of Norges Bank s foreign exchange reserves 17 AUGUST 17 REPORT FOR SECOND QUARTER 17 Contents Management of the foreign exchange reserves... 3 Foreign exchange reserves... Fixed income
More informationAsset Allocation Monthly
For professional investors Asset Allocation Monthly December 2015 Joost van Leenders, CFA, Chief economist, Multi Asset Solutions joost.vanleenders@bnpparibas.com +31 20 527 5126 SUMMARY INVESTMENT CLIMATE
More informationPlease be informed, that over the year-end holidays, we will be open for business at the following opening hours:
Budapest, 11 December 2018 Dear Customer, Please be informed, that over the year-end holidays, we will be open for business at the following opening hours: 21 December 2018 (Friday) Friday opening hours
More informationAN INTRODUCTION TO TRADING CURRENCIES
The ins and outs of trading currencies AN INTRODUCTION TO TRADING CURRENCIES A FOREX.com educational guide K$ $ kr HK$ $ FOREX.com is a trading name of GAIN Capital UK Limited, FCA No. 113942. Our services
More information2.1 Supply. Economic and Monetary Conditions, July Nominal Farm Income. Real Farm Income
Economic and Monetary Conditions, y 2.1 Supply Farm income expanded from the same period last year as supported mainly by increased agricultural production, while agricultural prices slightly contracted.
More informationThe Chinese Economy and the Renminbi
The Chinese Economy and the Renminbi Lawrence J. Lau Ralph and Claire Landau Professor of Economics, The Chinese University of Hong Kong and Kwoh-Ting Li Professor in Economic Development, Emeritus, Stanford
More informationWeekly Statistical Bulletin
1 / Central Bank of Kenya Statistical Bulletin Weekly Statistical Bulletin Key Monetary and Financial Indicators January May 25, 2018 22, 2018 Interbank Market Activity in the interbank market was subdued
More information9M 2015 Results. Hreiðar Bjarnason. Steinþór Pálsson CFO CEO
9M 215 Results Steinþór Pálsson CEO Hreiðar Bjarnason CFO Highlights Operations» The Bank s after-tax profit for the first nine months of 215 amounted to ISK 24.4 bn, as compared with ISK 2 bn for the
More informationJapan's Balance of Payments Statistics and International Investment Position for 2017
Japan's Balance of Payments Statistics and International Investment Position for 217 July 218 International Department Bank of Japan Japan's balance of payments statistics for 217 -- the annually revised
More information20 November Q2014 Financial Results
20 November 2014 3Q2014 Financial Results Forward Looking Statements Important information All information contained in this presentation should be regarded as preliminary and based on company data available
More information