Currencies

The latest currency markets news and analysis from FriedlNews
Page 1/14

Austria to Provide no State Aid to CHF Mortgage Holders

Austria will not provide any state aid to CHF mortgage holders affected by the recent steep appreciation of the Swiss franc, Social Affairs Minister Rudolf Hundstorfer told journalists on Monday reiterating a view expressed earlier by Finance Minister Hans Jorg Schelling.

February 16, 2015

ECB Unleashes Quantitative Easing - How does it work?

Today, the ECB finally commenced on a large scale sovereign bond-buying programme. The €60bn monthly asset purchases include covered bonds and asset backed securities. Due to the flood of cheap money, the DAX was boosted. The index increased by up to one per cent to a record high of 10,399.67 points. Quantitative easing is a monetary policy where a central bank creates new money electronically to buy financial assets. The aim is to stimulate an economy when standard monetary policy has become ineffective. How does it work?

January 22, 2015

CHF Unpegged - Moody’s Corrects Figures for Austrian Banks

Rating agency Moody’s updated its commentary regarding the unpegging of the Swiss franc by the central bank, adjusting also the forecast for Austrian banks. The agency now estimates that the CHF-denominated loan volume of Bank Austria amounts to EUR 12.4 billion (USD 14 billion), that of Erste Group EUR 9.9 billion and that of Raiffeisen Bank International (RBI) to EUR 4.3 billion.

January 21, 2015

Austria has EU-Wide Most Franc Loans

In absolute terms, Austria has the most franc foreign currency loans in the European Union.

January 19, 2015

Russian Currency Depreciation Cost RBI One PPT of Capital

The depreciation of currencies in Russia and Ukraine have cost listed bank RBI one percentage point of the capital in the consolidated balance sheet and most of the loss was due to the recent cave-in of the Russian rouble, chief risk officer (CRO) Johann Strobl of RBI told journalists.

December 19, 2014

Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.

October 17, 2014

Comment: Outlook of Vienna Stock Exchange

Manfred Sibrawa of BAWAG PSK INVEST GmbH comments on the expectation of the performance of the Vienna Stock Exchange until year end. Erste Bank and Raiffeisen Bank International, but also OMV, booked double-digit losses, while the Vienna Stock Exchange welcomed a new member, FACC. "All in all we saw a mixed development year-to-date, but assuming that we see a stabilization of the global situation we can expect the Vienna ATX to speed up and reduce the underperformance towards other established markets."

August 7, 2014

Event: 21st Austria & Advantage Austria: Re-Think Central and Eastern Europe - An Austrian Perspective

On September 23, 2014, 21st Austria and Advantage Austria UK will host a panel discussion at the City of London's Gherkin skyscraper. Herbert Stepic, former CEO of RBI Raiffeisen Bank International and Georg Karabaczek, Austrian Trade Commissioner for the UK will focuse on the topic "Re-Think Central and Eastern Europe: An Austrian Perspective on Diversity in Performance, Challenges and Avenues of Growth". Panellists also include Pasquale Diana, Mario Holzner and Eduard Zehetner.

August 1, 2014

Analysis: Russia - Assessment of EU and Tightened US Sanctions

Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.

July 31, 2014

Austrian FDI: Current Developments 1Q 2014

In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.

July 29, 2014