RBNZ Holds Rates, Reverses Course and Flags More Easing to Come – Reuters The global curse of too-low inflation struck again on Thursday when the Reserve Bank of New Zealand kept its official cash rate on hold and reopened the door to rate cuts just a month after all but slamming it shut.
Brazil’s President Aims to Pump Up to $15 Billion Into Economy – Reuters Brazil’s President Dilma Rousseff could release up to 60 billion reais ($15 billion) in fresh credit from state-run banks and a workers’ pension fund to help lift the country out of a deep recession, two senior government sources said.
Hopes For Action Grow as Yen Approaches 115 to Dollar – Nikkei News Investors increasingly view 115 yen to the dollar as a line in the sand that the Japanese government and central bank will defend, based on reactions to the yen’s rapid upswing since the beginning of the year.
Nomura Says Kuroda Waiting Too Long Risks Irreversible Damage – Bloomberg Yen bear Nomura Holdings Inc. says the Bank of Japan risks “irreversible damage” to the economic recovery if it fails to check the currency’s world-beating rally.
Investors Hedge Bets on Crude-Oil Revival – Wall Street Journal (subscription) Firms are focusing on senior, secured loans or hedging against further declines.