A sad goodbye to Huang Wenyong
From Cinema Online Exclusively for Yahoo! NewsroomBy Ng Suzhen | From Cinema Online Exclusively for Yahoo! Newsroom – Mon, Apr 22, 2013 5:45 PM SGT
22 April – Veteran Mediacorp actor, Huang Wenyong passed away on Saturday at age 60 with his wife, son and daughter by his bedside at the Singapore General Hospital.
The actor, who was working as a teacher in his hometown of Kuala Lumpur before becoming an actor in 1980, died of a rare form of lymphoma after six-months of chemotherapy.
Best remembered as Ah Shui from "The Awakening" whom he starred alongside Xiang Yun, the actor's death came as a heartbreaking one for friends and fans who have grown up watching his acting.
Tributes for the well-respected veteran flooded the internet. This year's Star Awards too, paid special tribute to Huang, with Mediacorp CEO, Shawn Seow saying: "We will forever remember him. The role of Ah Shui he played in "The Awakening". He's contributed a lot to local TV. He was always hard working, always improving his craft."
The local icon will have a five-day wake at the Teochew funeral parlour, which began on Sunday.
- wong chee tat :)
Wednesday, April 24, 2013
Even men fake orgasms
Even men fake orgasms
By ANI | ANI – Tue, Apr 23, 2013
London, Apr 23 (ANI): When it comes to faking orgasms, women are very good at it, but a new study and a new book have both revealed that an increasing number of men fake it too.
The study, by online pharmacy ukmedix.com, found 74 percent of women in the UK are faking and 22 percent of men, the Sun reported.
But it appears the reasons why men and women fake are vastly different.
Most women do so to get the lovemaking over and done with.
They used to lie back and think of England, while men think of Kelly Brook.
But it appears men fake climax because they are embarrassed their technique comes up short, and want to make women feel better.
For new book 'Why Men Fake It: The Totally Unexpected Truth', Dr Abraham Morgentaler spent 25 years researching the male orgasm.
He said, "The big surprise to me when I started doing this work was that, once a man is in a relationship, he seems to care more about his partner than himself."
Most men know women fake it. Like childbirth for women, it is the pain we have to bear.
But it will no doubt come as a big shock to women to learn their fellas are at it too. (ANI)
- wong chee tat :)
By ANI | ANI – Tue, Apr 23, 2013
London, Apr 23 (ANI): When it comes to faking orgasms, women are very good at it, but a new study and a new book have both revealed that an increasing number of men fake it too.
The study, by online pharmacy ukmedix.com, found 74 percent of women in the UK are faking and 22 percent of men, the Sun reported.
But it appears the reasons why men and women fake are vastly different.
Most women do so to get the lovemaking over and done with.
They used to lie back and think of England, while men think of Kelly Brook.
But it appears men fake climax because they are embarrassed their technique comes up short, and want to make women feel better.
For new book 'Why Men Fake It: The Totally Unexpected Truth', Dr Abraham Morgentaler spent 25 years researching the male orgasm.
He said, "The big surprise to me when I started doing this work was that, once a man is in a relationship, he seems to care more about his partner than himself."
Most men know women fake it. Like childbirth for women, it is the pain we have to bear.
But it will no doubt come as a big shock to women to learn their fellas are at it too. (ANI)
- wong chee tat :)
S’pore cartoonist arrested for alleged sedition
S’pore cartoonist arrested for alleged sedition
By Andrew Loh
By Andrew Loh | SingaporeScene
Cartoonist Leslie Chew has been arrested for two cartoon posts under his "Demon-cratic Singapore" series. (Facebook screengrab) .Cartoonist Leslie Chew has been arrested for two cartoon posts under his "Demon-cratic Singapore" series. (Facebook …
Singapore police arrested Mr Leslie Chew, 37, the person behind the cartoon strip, Demon-cratic Singapore, on Friday morning, for alleged sedition.
He was held in custody and questioned over the weekend, and was released at 8.45pm on Sunday after posting bail of S$10,000.
The police confiscated his handphone, computer and hard disk. He was also asked to surrender his passport to the police at the Cantonment Police complex.
The charges relate to two of the comic strips on his Demon-cratic Facebook page. Mr Chew has produced more than 600 cartoons thus far, including those on the page.
The first cartoon, published on his Facebook page on 14 December last year, and titled “Demon-cratic Singapore Episode #438, Eliminating the thorn first...”, had also been the subject of a letter of demand from the Attorney General Chambers (AGC) last year.
The AGC, in a letter to Mr Chew on 17 December, said the cartoon “scandalises our Courts through allegations and imputations that are scurrilous and false."
However, it said it would not commence further legal proceedings against Chew if he posted an apology on the page, removed the cartoon and “all accompanying comments” related to the post, which has gathered over 600 likes, shares and comments since December.
Chew, however, decided not to comply because he said his work is fictional, and not related to any real events or persons, as stated on his Facebook page. On its page, which has 19,000 likes, Demon-cratic Singapore describes itself as a "100% fictional comic series about a country that does not exist".
In the second cartoon, Chew said the police questioned him about the population statistics in the cartoon, and its words – “Malay population… Deliberately suppressed by a racist government.”
Under Singapore's Sedition Act, among other things, it is an offence to bring into hatred or contempt or to excite disaffection against the Government; and to promote feelings of ill-will and hostility between different races or classes of the population of Singapore.
Anyone found guilty of the offence can be fined up to S$5,000 or jailed up to three years, or both.
Chew, however, denies any such intentions, again pointing to the disclaimer in each of his cartoons which says that the portrayals in them “are purely fictional”.
“I also explicitly stated that Demon-cratic Singapore is an entirely imaginary country and is not the Republic of Singapore,” Mr Chew says, referring to this page.
The latest arrest follows a spate of legal action by members of the Government against online commentators and sites.
In January, Prime Minister Lee Hsien Loong demanded writer and activist, Alex Au removed his blog posts about Action Information Management, the PAP-owned company embroiled in the controversy over the PAP-run town councils’ computer system.
And on 18 April, the AGC demanded an apology and the removal of posts from several websites which it alleged cast doubt on the judiciary's integrity.
Chew, who says that the police was “very professional” in the way they treated him, has been asked to report to the police on 30 April.
“Most fans know that Demon-cratic Singapore is fictional and are just for laughs,” said Chew.
“Even when there are new readers who thought otherwise, they are usually quickly reminded by other readers that everything on my Facebook page is fictional."
Andrew helms publichouse.sg as Editor-in-Chief. His writings have been reproduced in other publications, including the Australian Housing Journal in 2010. He was nominated by Yahoo! Singapore as one of Singapore's most influential media persons in 2011.
- wong chee tat :)
By Andrew Loh
By Andrew Loh | SingaporeScene
Cartoonist Leslie Chew has been arrested for two cartoon posts under his "Demon-cratic Singapore" series. (Facebook screengrab) .Cartoonist Leslie Chew has been arrested for two cartoon posts under his "Demon-cratic Singapore" series. (Facebook …
Singapore police arrested Mr Leslie Chew, 37, the person behind the cartoon strip, Demon-cratic Singapore, on Friday morning, for alleged sedition.
He was held in custody and questioned over the weekend, and was released at 8.45pm on Sunday after posting bail of S$10,000.
The police confiscated his handphone, computer and hard disk. He was also asked to surrender his passport to the police at the Cantonment Police complex.
The charges relate to two of the comic strips on his Demon-cratic Facebook page. Mr Chew has produced more than 600 cartoons thus far, including those on the page.
The first cartoon, published on his Facebook page on 14 December last year, and titled “Demon-cratic Singapore Episode #438, Eliminating the thorn first...”, had also been the subject of a letter of demand from the Attorney General Chambers (AGC) last year.
The AGC, in a letter to Mr Chew on 17 December, said the cartoon “scandalises our Courts through allegations and imputations that are scurrilous and false."
However, it said it would not commence further legal proceedings against Chew if he posted an apology on the page, removed the cartoon and “all accompanying comments” related to the post, which has gathered over 600 likes, shares and comments since December.
Chew, however, decided not to comply because he said his work is fictional, and not related to any real events or persons, as stated on his Facebook page. On its page, which has 19,000 likes, Demon-cratic Singapore describes itself as a "100% fictional comic series about a country that does not exist".
In the second cartoon, Chew said the police questioned him about the population statistics in the cartoon, and its words – “Malay population… Deliberately suppressed by a racist government.”
Under Singapore's Sedition Act, among other things, it is an offence to bring into hatred or contempt or to excite disaffection against the Government; and to promote feelings of ill-will and hostility between different races or classes of the population of Singapore.
Anyone found guilty of the offence can be fined up to S$5,000 or jailed up to three years, or both.
Chew, however, denies any such intentions, again pointing to the disclaimer in each of his cartoons which says that the portrayals in them “are purely fictional”.
“I also explicitly stated that Demon-cratic Singapore is an entirely imaginary country and is not the Republic of Singapore,” Mr Chew says, referring to this page.
The latest arrest follows a spate of legal action by members of the Government against online commentators and sites.
In January, Prime Minister Lee Hsien Loong demanded writer and activist, Alex Au removed his blog posts about Action Information Management, the PAP-owned company embroiled in the controversy over the PAP-run town councils’ computer system.
And on 18 April, the AGC demanded an apology and the removal of posts from several websites which it alleged cast doubt on the judiciary's integrity.
Chew, who says that the police was “very professional” in the way they treated him, has been asked to report to the police on 30 April.
“Most fans know that Demon-cratic Singapore is fictional and are just for laughs,” said Chew.
“Even when there are new readers who thought otherwise, they are usually quickly reminded by other readers that everything on my Facebook page is fictional."
Andrew helms publichouse.sg as Editor-in-Chief. His writings have been reproduced in other publications, including the Australian Housing Journal in 2010. He was nominated by Yahoo! Singapore as one of Singapore's most influential media persons in 2011.
- wong chee tat :)
NUS scholar found dead in UTown campus
NUS scholar found dead in UTown campus
Yahoo! NewsroomYahoo!
UPDATED [11:25am 24 April 2013. Adds information from police and acquaintances of the deceased.]
A Year One student from the National University of Singapore (NUS) University Scholars' Programme (USP) was found dead in the varsity's UTown campus.
21-year-old Peter Huen Kam Fai was found dead in his room late Tuesday afternoon at the Cinnamon College. The cause of death has yet to be confirmed but Yahoo! Singapore understands he was found hanging.
Police said they received a call on Tuesday at 5:06pm requesting for assistance at College Ave East.
Upon arrival, they found a male Chinese motionless at the location. He was pronounced dead at the scene.
Police said they are investigating the "unnatural death".
An NUS spokesperson revealed, in an official statement, that "the student was found in his room by a university staff" and that "police investigations are ongoing."
Huen, who was majoring in Political Science, is also understood to have been an active sportsman, and was part of the USP Foosball Club.
An NUS graduate who used to play floorball in school with the deceased but did not want to be named told Yahoo! Singapore Huen's death was "really unexpected because you could never tell he was suicidal". Huen had also stopped turning up for games "for a while", the person added.
The source further pointed out that Huen's "last Facebook post was in mid-March", despite being someone who "used to post pretty often".
News of Huen's death quickly spread on social media.
A post on popular local forum Eat Drink Man Woman by his former teacher at Hwa Chong Institution, Charles Low, said the "world has lost a good man today".
He added that Huen would be missed for his quiet confidence, his wit and self-deprecating humour and willingness to help others. It's also understood he had a passion for writing and the humanities.
A fellow resident of Cinnamon College, who also did not wish to be named, described Huen as "always well-liked... always with a smile."
This was the second piece of tragic news to hit NUS this week.
On Tuesday, the wife of NUS professor, Gong Jiangbin, was killed in an accident with an SBS double-decker bus.
Zhang Hui Rui, 43, died after being hit and dragged by bus service 78, which was turning into Clementi Avenue 3.
- wong chee tat :)
Yahoo! NewsroomYahoo!
UPDATED [11:25am 24 April 2013. Adds information from police and acquaintances of the deceased.]
A Year One student from the National University of Singapore (NUS) University Scholars' Programme (USP) was found dead in the varsity's UTown campus.
21-year-old Peter Huen Kam Fai was found dead in his room late Tuesday afternoon at the Cinnamon College. The cause of death has yet to be confirmed but Yahoo! Singapore understands he was found hanging.
Police said they received a call on Tuesday at 5:06pm requesting for assistance at College Ave East.
Upon arrival, they found a male Chinese motionless at the location. He was pronounced dead at the scene.
Police said they are investigating the "unnatural death".
An NUS spokesperson revealed, in an official statement, that "the student was found in his room by a university staff" and that "police investigations are ongoing."
Huen, who was majoring in Political Science, is also understood to have been an active sportsman, and was part of the USP Foosball Club.
An NUS graduate who used to play floorball in school with the deceased but did not want to be named told Yahoo! Singapore Huen's death was "really unexpected because you could never tell he was suicidal". Huen had also stopped turning up for games "for a while", the person added.
The source further pointed out that Huen's "last Facebook post was in mid-March", despite being someone who "used to post pretty often".
News of Huen's death quickly spread on social media.
A post on popular local forum Eat Drink Man Woman by his former teacher at Hwa Chong Institution, Charles Low, said the "world has lost a good man today".
He added that Huen would be missed for his quiet confidence, his wit and self-deprecating humour and willingness to help others. It's also understood he had a passion for writing and the humanities.
A fellow resident of Cinnamon College, who also did not wish to be named, described Huen as "always well-liked... always with a smile."
This was the second piece of tragic news to hit NUS this week.
On Tuesday, the wife of NUS professor, Gong Jiangbin, was killed in an accident with an SBS double-decker bus.
Zhang Hui Rui, 43, died after being hit and dragged by bus service 78, which was turning into Clementi Avenue 3.
- wong chee tat :)
StarHub elbows out iCELL as provider of Singapore's free wi-fi program
StarHub elbows out iCELL as provider of Singapore's free wi-fi program
- Singapore Business Review
It also joins M1 and SingTel on board.
Current Wireless@SG users and potential users can look forward to having more choices as new Wireless@SG operators came on board for the Next Phase of the Wireless@SG programme with effect from 1 April 2013.
StarHub joins M1 and SingTel as Wireless@SG operators after the Infocomm Development Authority of Singapore dropped iCELL--a local systems integrator--out of the list of providers. The IDA said that iCELL did not meet the standards of the next phase of Wireless@SG.
All three mobile operators – M1, SingTel and StarHub – will be on board as Wireless@SG operators. Y5Zone Singapore Pte Ltd, a Wi-Fi service provider will also be on board as a Wireless@SG operator.
Y5Zone Singapore is part of the Y5Zone International Group which has a regional headquarters in Hong Kong and its core business is in operating public Wi-Fi networks.
Existing Wireless@SG users could choose to retain their existing accounts with M1 or SingTel. They could also sign up with the new operators, StarHub and Y5Zone, when these operators start Wireless@SG account registration at a later date.
Users who have existing accounts with iCELL, which would cease to be a Wireless@SG operator with effect from 1 July 2013, could also choose to register a new account with M1 and SingTel now or with StarHub and Y5Zone at a later date. For iCELL users who already have Wireless@SG accounts with other operators, they could use the alternative accounts to access Wireless@SG as these accounts will remain valid.
The three mobile operators – M1, SingTel and StarHub – are also preparing for the implementation of interoperable SIM-based authentication which allows a one-time configuration of mobile phones for automatic detection and log-in to the Wireless@SG network with effect from 1 April 2014. The operators will advise the procedures of configuration details in due course.
Web-based login and Seamless Secure Access (SSA) will continue to be offered as login methods alongside SIM-based authentication.
- wong chee tat :)
- Singapore Business Review
It also joins M1 and SingTel on board.
Current Wireless@SG users and potential users can look forward to having more choices as new Wireless@SG operators came on board for the Next Phase of the Wireless@SG programme with effect from 1 April 2013.
StarHub joins M1 and SingTel as Wireless@SG operators after the Infocomm Development Authority of Singapore dropped iCELL--a local systems integrator--out of the list of providers. The IDA said that iCELL did not meet the standards of the next phase of Wireless@SG.
All three mobile operators – M1, SingTel and StarHub – will be on board as Wireless@SG operators. Y5Zone Singapore Pte Ltd, a Wi-Fi service provider will also be on board as a Wireless@SG operator.
Y5Zone Singapore is part of the Y5Zone International Group which has a regional headquarters in Hong Kong and its core business is in operating public Wi-Fi networks.
Existing Wireless@SG users could choose to retain their existing accounts with M1 or SingTel. They could also sign up with the new operators, StarHub and Y5Zone, when these operators start Wireless@SG account registration at a later date.
Users who have existing accounts with iCELL, which would cease to be a Wireless@SG operator with effect from 1 July 2013, could also choose to register a new account with M1 and SingTel now or with StarHub and Y5Zone at a later date. For iCELL users who already have Wireless@SG accounts with other operators, they could use the alternative accounts to access Wireless@SG as these accounts will remain valid.
The three mobile operators – M1, SingTel and StarHub – are also preparing for the implementation of interoperable SIM-based authentication which allows a one-time configuration of mobile phones for automatic detection and log-in to the Wireless@SG network with effect from 1 April 2014. The operators will advise the procedures of configuration details in due course.
Web-based login and Seamless Secure Access (SSA) will continue to be offered as login methods alongside SIM-based authentication.
- wong chee tat :)
Starhub to implement a ‘one-minute minimum charge’
Starhub to implement a ‘one-minute minimum charge’
Yahoo! Newsroom
By Nurul Azliah Aripin | Yahoo! Newsroom –
Starhub’s mobile customers have to pay 16.05 cents for the first minute of each local outgoing call starting 1 May, even for talk times shorter than one minute.
This means that customers will have to pay more than they do now for calls lasting less than 60 seconds, according to information found on the telco’s website.
Starhub customers are currently being billed at about 0.27 cents per second from the start of each local outgoing call.
By next month, a one-minute charge will be fixed to each call before customers are billed on a per second basis starting from the 61st second of talk time, according to Starhub’s corporate communications and investor relations person, Cassie Fong.
The new billing method will apply to all mobile post-paid customers when they make local outgoing calls through voice or 3G video.
Fong, who noted that Starhub has been billing their customers on a per second basis for the past 13 years, added that the company has decided to implement the new method instead of increasing call rates amid rising costs of “network maintenance, upgrade and expansion”.
Since April, the telco has been notifying their customers on the new billing method through their website as well as notices sent to customers together with their bills, she said. Customers who want to sign up or renew their mobile plans, will also be informed by the staff available at Starhub stores.
Furthermore, Fong said that customers would not see a “significant difference” in their charges as most customers use their outgoing calls within their monthly talk-time bundle.
- wong chee tat :)
Yahoo! Newsroom
By Nurul Azliah Aripin | Yahoo! Newsroom –
Starhub’s mobile customers have to pay 16.05 cents for the first minute of each local outgoing call starting 1 May, even for talk times shorter than one minute.
This means that customers will have to pay more than they do now for calls lasting less than 60 seconds, according to information found on the telco’s website.
Starhub customers are currently being billed at about 0.27 cents per second from the start of each local outgoing call.
By next month, a one-minute charge will be fixed to each call before customers are billed on a per second basis starting from the 61st second of talk time, according to Starhub’s corporate communications and investor relations person, Cassie Fong.
The new billing method will apply to all mobile post-paid customers when they make local outgoing calls through voice or 3G video.
Fong, who noted that Starhub has been billing their customers on a per second basis for the past 13 years, added that the company has decided to implement the new method instead of increasing call rates amid rising costs of “network maintenance, upgrade and expansion”.
Since April, the telco has been notifying their customers on the new billing method through their website as well as notices sent to customers together with their bills, she said. Customers who want to sign up or renew their mobile plans, will also be informed by the staff available at Starhub stores.
Furthermore, Fong said that customers would not see a “significant difference” in their charges as most customers use their outgoing calls within their monthly talk-time bundle.
- wong chee tat :)
HSBC to cut headcount by over 1,000
HSBC to cut headcount by over 1,000
POSTED: 23 Apr 2013 10:47 PM
HSBC on Tuesday said it planned a net reduction of 1,149 British jobs under a shake-up of the global bank's division that deals with high-depositing investors.
LONDON - HSBC on Tuesday said it planned a net reduction of 1,149 British jobs under a shake-up of the global bank's division that deals with high-depositing investors.
"HSBC is today proposing changes within its UK business which will lead to a potential reduction of 1,149 roles," the British bank said in a statement.
"The changes reflect the changing nature of customer behaviour and regulation. A total of 3,166 employees will be impacted. However, the bank is creating 2,017 new roles and it is expected that the majority of these roles will be filled by displaced employees," it said.
The lender, which is Europe's biggest bank by market value, added: "Wealth remains a strategic business for HSBC.
"The proposed changes will ensure for the first time that all UK Premier customers who already hold over £50,000 ($76,000, 59,000 euros) of savings and investments with the bank, will have a relationship manager qualified to give financial advice as a single contact point for both their banking and wealth management needs."
Britain is tightening regulation surrounding financial advisors in the wake of the global economic crisis.
"Better serving our customers, particularly for their wealth management needs, is essential if we are to fulfil our aspiration of becoming the world's leading international bank," HSBC deputy chief executive Antonio Simoes said in Tuesday's statement.
"These proposals, together with the recent removal of all sales targets for our employees and the complete decoupling of incentives from those sales, mean our customers can expect us to fully focus on serving their needs and do the right thing.
"Evolving and improving our culture will take time but the changes announced today are another step in the right direction," he added.
HSBC employs 52,000 across Britain and a total of 261,000 worldwide. In March, HSBC announced that it had exceeded its target of saving up to $3.5 billion over two years -- after axing 30,000 jobs globally.
At the same time, it said that group net profit sank 16.5 percent to $14.03 billion in 2012, hit by US money-laundering fines, mis-selling scandals, rising tax costs and a huge accounting charge.
Founded in Hong Kong, HSBC currently sees Asia as its main market.
- AFP/al
- wong chee tat :)
POSTED: 23 Apr 2013 10:47 PM
HSBC on Tuesday said it planned a net reduction of 1,149 British jobs under a shake-up of the global bank's division that deals with high-depositing investors.
LONDON - HSBC on Tuesday said it planned a net reduction of 1,149 British jobs under a shake-up of the global bank's division that deals with high-depositing investors.
"HSBC is today proposing changes within its UK business which will lead to a potential reduction of 1,149 roles," the British bank said in a statement.
"The changes reflect the changing nature of customer behaviour and regulation. A total of 3,166 employees will be impacted. However, the bank is creating 2,017 new roles and it is expected that the majority of these roles will be filled by displaced employees," it said.
The lender, which is Europe's biggest bank by market value, added: "Wealth remains a strategic business for HSBC.
"The proposed changes will ensure for the first time that all UK Premier customers who already hold over £50,000 ($76,000, 59,000 euros) of savings and investments with the bank, will have a relationship manager qualified to give financial advice as a single contact point for both their banking and wealth management needs."
Britain is tightening regulation surrounding financial advisors in the wake of the global economic crisis.
"Better serving our customers, particularly for their wealth management needs, is essential if we are to fulfil our aspiration of becoming the world's leading international bank," HSBC deputy chief executive Antonio Simoes said in Tuesday's statement.
"These proposals, together with the recent removal of all sales targets for our employees and the complete decoupling of incentives from those sales, mean our customers can expect us to fully focus on serving their needs and do the right thing.
"Evolving and improving our culture will take time but the changes announced today are another step in the right direction," he added.
HSBC employs 52,000 across Britain and a total of 261,000 worldwide. In March, HSBC announced that it had exceeded its target of saving up to $3.5 billion over two years -- after axing 30,000 jobs globally.
At the same time, it said that group net profit sank 16.5 percent to $14.03 billion in 2012, hit by US money-laundering fines, mis-selling scandals, rising tax costs and a huge accounting charge.
Founded in Hong Kong, HSBC currently sees Asia as its main market.
- AFP/al
- wong chee tat :)
1 year T bill
1 year T bill
- wong chee tat :)
|
Announcement Date
|
Auction Date
|
Issuance Date
|
Issue Code
|
ISIN Code
| Maturity Date |
19/04/2013
|
26/04/2013
|
02/05/2013
|
BY13100H
|
SG6X05986163
|
02/05/14
|
- wong chee tat :)
New Zealand keeps interest rates at record low
New Zealand keeps interest rates at record low
POSTED: 24 Apr 2013 6:50 AM
New Zealand's central bank left interest rates at a record low of 2.5 per cent on Wednesday, predicting they would remain there for the rest of 2013 with low inflation and a surging local currency.
WELLINGTON: New Zealand's central bank left interest rates at a record low of 2.5 percent on Wednesday, predicting they would remain there for the rest of 2013 with low inflation and a surging local currency.
The official cash rate (OCR) has remained on hold since March 2011 and financial markets had not expected any movement from the Reserve Bank of New Zealand (RBNZ).
Governor Graeme Wheeler said that while growth in New Zealand was firm, a drought had affected agricultural production and government cutbacks were impacting on overall demand in the economy.
He said the New Zealand dollar was rising, partly due to Japan's policy of monetary easing, which was restricting export earnings and stimulating demand for imports.
With inflation sitting at 0.9 percent and expected to remain at the bottom of the bank's 1.0-3.0 target band, Wheeler said interest rates were not likely to change in the short term.
"At this point, we expect to keep the OCR unchanged through the end of the year," he said in a statement.
- AFP/fa
- wong chee tat :)
POSTED: 24 Apr 2013 6:50 AM
New Zealand's central bank left interest rates at a record low of 2.5 per cent on Wednesday, predicting they would remain there for the rest of 2013 with low inflation and a surging local currency.
WELLINGTON: New Zealand's central bank left interest rates at a record low of 2.5 percent on Wednesday, predicting they would remain there for the rest of 2013 with low inflation and a surging local currency.
The official cash rate (OCR) has remained on hold since March 2011 and financial markets had not expected any movement from the Reserve Bank of New Zealand (RBNZ).
Governor Graeme Wheeler said that while growth in New Zealand was firm, a drought had affected agricultural production and government cutbacks were impacting on overall demand in the economy.
He said the New Zealand dollar was rising, partly due to Japan's policy of monetary easing, which was restricting export earnings and stimulating demand for imports.
With inflation sitting at 0.9 percent and expected to remain at the bottom of the bank's 1.0-3.0 target band, Wheeler said interest rates were not likely to change in the short term.
"At this point, we expect to keep the OCR unchanged through the end of the year," he said in a statement.
- AFP/fa
- wong chee tat :)
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