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  • 2015-11-26 03:15

    By Jack Duffy

    PARIS (MNI) - French Finance Minister Michel Sapin said Thursday that extra spending on security following the November 13 Paris terrorist attacks won't jeopardize the government's 2016 deficit target.

    Speaking on BFM-TV, Sapin reiterated that the 2016 budget would include E600 million in additional spending related to security measures.

    "I will not put any budget obstacle before the internal of external security of French citizens but France won't abandon the necessary objective of decreasing our deficits," Sapin said.

    "A serious budget policy will continue to be applied and the objectives for lowering the deficit that we have fixed for next year remain the same," Sapin said.

  • 2015-11-26 02:22

    TOKYO (MNI) - The Bank of Japan said on Thursday that it posted a net profit of Y628.8 billion in the first half of fiscal 2015 to Sept.

  • 2015-11-25 21:14

    BEIJING (MNI) - The yuan will appreciate in the long term and existing exchange-rate volatility is temporary only, People's Bank of China statistics department head Sheng Songcheng said Thursday.

    "Yuan appreciation and a net capital inflow trend will remain intact in the long run," Sheng said in an article.

    Existing exchange-rate volatility and capital outflows are short-term, temporary responses by the market, Sheng said. The effects of a U.S. Federal Reserve rate rise, as well as slowing growth and worsening corporate profitability in China, have fueled yuan exchange-rate volatility.

    "But these factors are temporary. China remains attractive to international funds in the long term," Sheng said.

  • 2015-11-25 20:35

    BEIJING (MNI) - The People's Bank of China injected CNY20 billion in seven-day reverse repos at open-market operations Thursday resulting in a net neutral position for the week.

    The PBOC injected a net CNY10 billion at open-market operations last week.

    In the money market the seven-day repo opened at 2.25% this morning compared with Wednesday's average of 2.2994%.

    --MNI Beijing Bureau; +86 (10) 8532-5998; email:
    --MNI Singapore Bureau; tel: +65 9189-5705; email:
    --MNI Singapore Bureau; tel: +65 9023-5864; email:

    [TOPICS: MMQPB$,M$A$$$,M$Q$$$,MN$MM$,MN$RP$]

  • 2015-11-25 11:26

    --Base-Line Limits Maintained for Most of Nation

    WASHINGTON (MNI) - The following is an announcement by the regulator of Fannie Mae and Freddie Mac, published Wednesday:

    2016 Maximum Conforming Loan Limits Established for Fannie Mae and Freddie Mac

    National Baseline Loan Limit Remains Unchanged; Limits Rise for 39 High-Cost Areas

    The Federal Housing Finance Agency (FHFA) today announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2016 will remain at existing levels, except in 39 high-cost counties where they will increase.

  • 2015-11-25 10:00

    --NE Regions Erratic at +135%; Median Sales Price $281,500, Slowing

    WASHINGTON (MNI) - The latest U.S. home sales data show the expected bounce from a depressed level but do not suggest any surge in this sector.

    October new home sales posted a 10.7% gain to 495,000 units, about as expected after a surprising plunge in September. Sales were led by a 135.3% move in the Northeast in a rebound to 40,000 units, the highest since January 2010. But sales also gained in the Midwest and South. Sales in the West were -0.9%.

    Unadjusted sales in the Northeast are a mere 2,000-3,000 each month and the seasonal adjustment is causing the gyrations.

  • 2015-11-25 09:55

    -OBR: BOE Guidance Change To Cut Debt Payments, Up Net Debt

    LONDON (MNI) - The Bank of England's new guidance on when it is likely to unwind quantitative easing helped the Office for Budget Responsibility to cut its forecasts for future debt interest payments.

    The OBR's detailed figures underpinning the Autumn Statement, released Wednesday, showed how lower debt interest payments, due to both lower projected gilt yields and the BOE's forecast changes, helped Chancellor of the Exchequer George Osborne balance the books before the public finances move into surplus by 2019-20.

    The OBR said projected debt interest payments were "significantly lower than in July (its prior forecast)."

    It said this was because market expectations for Bank Rate and gilt

  • 2015-11-25 09:11

    --US Initial Claims -12K/260K, Better Than Expected
    --US Oct Personal Inc +0.4% As Expected; PCE +0.1%; Core PCE Y/Y +1.3%

    WASHINGTON (MNI) - The following are top events and news reported Wednesday morning ET by MNI in the world financial system:

    * The latest U.S. consumption, durables orders and unemployment claims data Wednesday suggested the economy was growing at a somewhat subdued pace at the beginning of the fourth quarter. First, the October durable goods report showed the expected rebound on the back of aircraft orders, but underlying details were less robust. Overall durables orders posted a 3.0% increase after two months of drops and ex-transportation orders posted a half-point increase.

  • 2015-11-25 09:06

    LONDON (MNI) - UK Chancellor of the Exchequer George Osborne announced several measures to boost supply in the UK housing market, a market which some Bank of England policymakers fear may become a risk to financial stability.

    Announcing new tax measures as part of his Autumn statement, Osborne also back-tracked on making cuts to working tax credits, while boosting resources for intelligence agencies, as had been widely expected following the attacks in Paris.

    "We are announcing further reforms to our planning system so it delivers more homes more quickly.

  • 2015-11-25 08:46

    --October Permits Originally Reported +4.1% To 1.15 Mln Unit Rate

    WASHINGTON (MNI) - The number of U.S. building permits issued in October was revised up to an increase of up 5.1% to a 1.161 million unit annual rate, the Commerce Department's Bureau of the Census said Wednesday.

    Permits issued were originally reported up 4.1% to a 1.15 million unit rate.

    The Census Bureau revises the latest building permits data on the 18th working day of the month, three to seven days after the release of the preliminary estimate in the month housing starts and building permits report.

    Permits for single-family homes were revised higher to a gain of 3.0% at a 715,000 unit rate (previously up 2.4% at a 711,000 unit rate).