TODAY’S TOP ARTICLES – 1 JUL 2014

United Kingdom: Further Dip in Mortgage Approvals
Mortgage approvals dipped to their lowest level since June last year, amid signs that new affordability checks are having an impact on the market. The Bank of England said that, in May, there were 61,707 home loan approvals for house purchases. (Source: BBC News)

Australia: RBA Holds Rates at Record Low
The Reserve Bank of Australia kept its benchmark cash rate at a record low as an elevated currency combines with government cutbacks and a slowdown in mining investment to constrain growth. The key rate was held at 2.5 percent for an 11th month, Governor Glenn Stevens and his board announced in Sydney today. (Source: Bloomberg)

Indonesia and Brazil: Indonesia, Brazil Markets to Catch Election Fever?
There is some expectation that the Indonesian stock market will experience strong gains during the run-up to presidential elections next month, although election fever is less likely to help boost the market in Brazil ahead of the there elections in October. (Source: CNBC)

Bulgaria: Bulgaria Says Banks Safe From Attack After EU Backs Aid
The Central Bank of Bulgaria declared that the Bulgarian banking sector is safe after the European Commission approved on 30 June Bulgaria’s extension of a LEV 3.3 billion. In addition, the government declared that the men who are supposed to have triggered a run on deposits of First Investment Bank and Corpbank were arrested. (Source: Bloomberg)

China: China Changes Loan-to-Deposit Calculation
The China Banking Regulatory Commission changed the way it calculates loan-to-deposit ratios for commercial banks, in a bid to free up more funds to support economic growth. (Source: CCTV)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

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