Tag: ukraine

Gold Doomed or Resting? Gold vs. Major Currencies; Goldman Sachs and Morgan Stanley Reiterate Sell Signal
April 16, 2014 0

Gold Doomed or Resting? Gold vs. Major Currencies; Goldman Sachs and Morgan Stanley Reiterate Sell Signal

By News Desk

Bloomberg reports Goldman Stands by $1,050 Gold Target on Outlook for Recovery Bullion’s rally this year was spurred by poor U.S. data probably linked to the weather and rising tension in Ukraine, analysts led by Jeffrey Currie wrote in a report, describing the reasons as transient. With the tapering of the Federal Reserve’s bond-buying program, U.S.

Ukraine Hikes Discount Rate from 6.5% to 9.5%, Overnight Rate to 14.5% to Halt Crash of Hryvnia
April 15, 2014 0

Ukraine Hikes Discount Rate from 6.5% to 9.5%, Overnight Rate to 14.5% to Halt Crash of Hryvnia

By News Desk

Ukraine Hikes Discount Rate from 6.5% to 9.5%, Overnight Rate to 14.5% to Halt Crash of Hryvnia The Ukrainian Hryvnia has plunged six consecutive weeks to new record lows. Since the beginning of the year, the Hryvnia has fallen from 8.26 to the US dollar, to 13.16 to the US dollar, a decline of 37.2% On Monday, the Ukraine central bank pulled out the bazooka with a massive set of rate hikes . Kiev’s central bank raised the benchmark discount rate from 6.5 per cent to 9.5 per cent and the overnight loan rate from 7.5 per cent to 14.5 per cent on Monday night.“The central bank considers it necessary to take the step to increase the value of the national currency, to restrain inflation and to stabilise the situation on the money market,†the central bank said in a statement