China: China celebrates a less-corrupt Lunar New Year’s
China Economic Review notes that sales of luxury goods declined during the Chinese New Year, partially as a result of the anti-corruption campaign launched by President Xi Jinping more than one year ago.
Singapore: MAS eases TDSR rules for some home owners refinancing loans
According to Channel News Asia, the Monetary Authority of Singapore (MAS) has widened the existing exemptions from the Total Debt Servicing Ratio (TDSR) to cover the refinancing of loans for owner-occupied properties. With this move the MAS seeks to ease borrowers’ finance conditions.
Mexico: Mexico could grow 5 percent ‘for decades,’ says official
Mexican Finance Minister Luis Videgaray told CNBC in an interview that the Mexican economy is well positioned to reach its forecast of 3.9% GDP growth and has the potential to achieve 5.0% growth in the years to come. Videgaray says the Fed’s tapering is a good sign for Mexico because it means the that their main trade partner is recovering. Moreover, he explained that the series of reforms passed in 2013 are going to help increase competitiveness and investment.
United Kingdom: Possible BoE revision to rate guidance holds back sterling
Reuters reports that the Bank of England is expected to deliver a new plan to guide the interest rate along with the quarterly inflation report due on 12 February. The economist expect the Bank to keep the interest rate on hold at its record low level. However, on Tuesday the British Pound reached its 2014 lows against the euro as investors pushed back expectations of higher UK interest rates.
Ukraine: Hryvnia fall: speculation or fundamentals
In this article, the Ukraine specialist for the BBC News argues that the recent fall in the Ukrainian currency might not be only due to the recent political turmoil. Observers see the hryvnia’s fall as a natural result of several years of poor economic policy, which left the country with a rising trade and budget deficit, 18 months of recession and mounting foreign debt.