Halister News

(Bloomberg) -- Baht gains; Thailand’s economy likely to grow more than 3% this year, which is still “too low” to escape middle-income trap: Finance Minister Tantivorawong; economy grew 2.8% in 2015.

• China sets yuan reference rate lower for first time in five days; will continue implementing prudent monetary policy with a balance between tightening and easing: PBOC’s Yi; nation will adjust tax scope and rate for consumption tax: MOF official; PBOC has relied on “stealthier measures” to shore up reserves, including asking CIC to sell overseas assets: Daiwa
• Won falls for second day; South Korea faces large external uncertainties including a slowing Chinese economy, Fed’s policy tightening and lower oil prices, Finance Ministry says in monthly economic report.
• Aussie weakens for second day against dollar; Australia’s home loans fell 3.9% in January, biggest drop since May; median estimate was for 3.0% decline; budget set down for May 10, election to be held in second half of year: PM Turnbull; Treasury review finds forecasters struggle with shocks
• Kiwi halts two-day drop against dollar; New Zealand’s retail credit card spending rose 0.7% in February, rising for tenth straight month; median estimate was for 0.3% increase
• Ringgit drops; Bank Negara Malaysia will keep benchmark rate at 3.25% when it meets today, according to all 20 economists in Bloomberg survey; decision will be Governor Zeti’s last before she steps down following 16 years at the helm
• Treasuries fall, with yield on 10-year bonds up 1 bp to 1.841% in Asian trading; data tomorrow will show U.S. initial jobless claims for week ended March 5 were 275,000 after 278,000 in prior week: Bloomberg survey
• Financial markets in Indonesia closed for a holiday