Tuesday, June 21, 2011

Global Market Weekly Review, 12 - 18 June 2011

China’s central bank raised bank reserve ratios for the ninth time since October in an attempt to curb inflation. The move quickly followed data which showed that consumer inflation, largely fueled by high food prices. The figure rose to a 34-month high in May up to 5.5%.

Talks of a second Greek bailout may drag into July, casting doubt on a payment due early next month. The finance ministers failed to reconcile a German-led push for bondholders to shoulder part of the cost of a new Greek aid package with European Central Bank warnings that such a move might constitute a default. Finance ministers will convene again on 19 June.

Eurozone 12-month inflation eased slightly in May to 2.7% after hitting a 30-month peak of 2.8% in April, European Union (EU) data showed yesterday. Annual inflation in the EU 27 also eased to 3.2% in May, down from 3.3% in April, according to Eurostat, the EU's data agency


Source: ING Funds Berhad

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