United Kingdom
Article Abstract:
The prolonged recession in the UK resulted in low to stable inflation rates. The sterling regained lost ground in the absence of further rate cuts and declining interest rates. The depreciation was as much as 15%. Real GDP growth was recorded at 0.7% over the year through the first quarter of 1993. The UK monetary policy plans on an inflation target range of 1-4% per year. The slight increase in bond yields by as much as 30 basis points from Apr to May 1993, showed concern about public sector borrowing requirements.
Publication Name: Financial Market Trends
Subject: Business
ISSN: 0378-651X
Year: 1993
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New financial statistics
Article Abstract:
Statistics on financial market trends in Organization for Economic Co-operation and Development countries are presented. These include data on bank profitability, trade in financial services between resident- and non-resident banks and insurance statistics. Data on trade in financial services is measured by three types of flows: income on direct investment, received or paid; income on other investment as in interest or dividends received or paid; and commission and fees received or paid.
Publication Name: Financial Market Trends
Subject: Business
ISSN: 0378-651X
Year: 1993
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France
Article Abstract:
The EC Exchange Rate Mechanism continued to put pressure on the French franc until the Bundesbank reduced official rates in Feb and Mar 1993. Additional respite from this pressure was brought about by the new French government's pledge to continue with plans to strengthen the central bank. The intervention rate, the basis for commercial bank lending rates, also decreased from 9.1% to 7.5% over a period of four months. Low inflation rates continued to increase real interest rates.
Publication Name: Financial Market Trends
Subject: Business
ISSN: 0378-651X
Year: 1993
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