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BOJ Gov not satisfied with banks pace in reducing interest rates

BOJ Gov not satisfied with banks pace in reducing interest rates

first_imgFacebookTwitterWhatsAppEmail Bank of Jamaica (BoJ) Governor, Brian Wynter, says there is a need for discussions between the Bank and financial institutions, to determine the timeframe within which they could reduce interest rates, reflecting consistency with BoJ policy.Speaking at the BoJ’s quarterly briefing at the institution’s downtown Kingston auditorium on Wednesday (November 10), Mr. Wynter noted that while the central bank’s policy is aimed at reducing interest rates, commercial banks loan rates do not appear to be reducing commensurately.He pointed out that this development has taken longer than anticipated to fully materialize, arguing that interest rates could be reduced much faster.“To the extent of that the reduction is not as great, the policy is not flowing through as we would wish,” Mr. Wynter observed. However, he said that the BoJ recognised that there are constraints to making the adjustments it would wish to see, which means there has to be a transitional period.“How long should that period be? That we should discuss. Has it been too long? I think perhaps, yes,” the Governor stated.Mr. Wynter said, ideally, the BoJ would be “happy” to see the banks reduce their interest rates much faster, provided it is done in a manner that preserves their financial integrity and does not jeopardize any of the ratios they are required to meet, with respect to strong capital.“They must earn sufficient returns to make sure that they are not going to become a risk to the system, (for) which we then have to expend tremendous national resources, that can then set back the growth prospects, even further. So, provided that they can make those adjustments in that context, we need to see those adjustments made,” he said.Noting that the banks are “strong”, the Governor posited that they are in a position where they can make the necessary decisions, going forward.Stressing that the BoJ is expected to continue easing the stipulations of its monetary policy, Mr. Wynter assured that the “positive effects” should be maintained. He added that, while bankers have to continue to reflect the impact of these changes on their balance sheets and income statements, they should go ahead and make the necessary changes.“I have no doubt that bankers who are in the business of making loans, are anxious to get as many loans out the door that are going to pay them back. So, I think we have to work together on this one. I think it’s a central issue, as we go forward in this period, and it’s going to make a difference as to how we grow,” he said. Advertisements BOJ Gov not satisfied with banks pace in reducing interest rates Finance & Public ServiceNovember 15, 2010 RelatedBOJ Gov not satisfied with banks pace in reducing interest ratescenter_img RelatedBOJ Gov not satisfied with banks pace in reducing interest rates RelatedBOJ Gov not satisfied with banks pace in reducing interest rateslast_img read more

Barber and Maroney take backseats during recent skid

Barber and Maroney take backseats during recent skid

first_imgFrom the running backs to the offensive linemen, the Gophers said they are feeling as though half of their potency has been taken away by not running the football.The Gophers had a lot of success early in the season getting big plays in the running game.Now, the strategy seems to be to throw long passes down the sideline, often to 6-foot-5-inch freshman receiver Ernie Wheelwright.But with the ball being thrown to the receivers more and more each game, Gophers running backs are starting to feel frustration.“I feel useless,” Maroney said. “I can go in there and have a good pass protection, but after that, I feel useless. There are only two pass plays where they use a running back, so I’m like, ‘Man, I’m trying to help the team out in every way possible.’ But if I’m not getting the carries, I’m useless.”The Gophers ran the ball only 18 times against Wisconsin, with Barber getting seven carries and Maroney eight.“That’s just the way things go sometimes,” offensive lineman Rian Melander said. “One day, they’ll get 45 carries and the next day, they won’t.”There’s no doubt Maroney hopes Saturday’s game against Iowa is one of those first days.“When they have nine guys up there, that’s one on one even with receivers,” Maroney said. “So maybe we have to spread them out and run.” Barber and Maroney take backseats during recent skidLosers of four of five, the Gophers’ losses have been highlighted by a lack of rushing. Dan MillerNovember 11, 2004Jump to CommentsShare on FacebookShare on TwitterShare via EmailPrintAlong with the rest of Minnesota’s football team, the last five weeks have been especially hard on Laurence Maroney and Marion Barber III.After being hailed as one of the – if not the – best running back duos in the nation, the two have almost completely dropped off the radar in the last couple games.The Gophers (6-4, 3-4 Big Ten) have shied away from the run and mostly passed the ball because of a combination of opponents totally focusing on their run game and the fact that Minnesota’s fallen behind in four of its last five games.But many people are still asking, “Where have those guys been?”“We’re still here,” Maroney said. “Most people are saying ‘Why aren’t Maroney and Barber producing?’ But there’s not much we can do when there are nine men in the box. Everybody should know that.”Maroney, who was ranked in the top 10 runners in the nation for most of the season, had a 134-yard average in his first five games but just 83.4 yards in his last five.Barber averaged 120.4 yards and had seven touchdowns in his first five games. Since then, in the last five games, he has averaged 62.6 yards and has only three touchdowns.He remains 85 yards short of 1,000. If he reaches that plateau, he and Maroney would be the first duo in history to both go over that mark in consecutive seasons.But that won’t erase the fact that they’ve been afterthoughts in the offense when the season mattered.“Coach always said we should be able to run anyways,” Barber said. “But it’s all a numbers game. If they have more guys coming than you have to block, it’s going to be tough.”last_img read more

Keane: LNG in BC is not a done deal yet

Keane: LNG in BC is not a done deal yet

first_imgPress Release, October 9, 2014; Image: BC LNG Alliance David Keane, President of the BC LNG Alliance, detailed the challenges and the opportunities facing British Columbia’s LNG industry in a keynote address to the Vancouver Board of Trade. “The new LNG industry in British Columbia is not a forgone conclusion,” said Keane. “If LNG is to be viable in this province, our industry, along with each level of government, will have to make some difficult decisions in order to cross the finish line.”The projects proposed by the Alliance’s members could constitute the largest investment ever seen in British Columbia. Together the Alliance members’ six projects represent a total potential investment in the tens of billions of dollars, just for the liquefaction plants alone. Investments in pipelines and upstream production facilities would add billions more to the total.On average, up to 4,000 new jobs could be created to construct each large-scale LNG plant, while thousands of new and permanent jobs would be required to operate the plants and support the industry. When operational, the plants could provide new revenues to all levels of government that may well run into the billions every year.“We need to find the right balance that enables British Columbians to get fair value for their resource, while ensuring our industry can compete in world markets over the long term,” said Keane. “There are challenges, but they are not insurmountable.”“It’s urgent we get this right as the window of opportunity to sell BC LNG into the global market is closing quickly,” said Keane. “After 60 years of natural gas exports to the U.S., there is declining demand for our product there.”He noted that companies preparing to make a Final Investment Decision do so in the context of the global LNG market and require clarity, certainty and a competitive fiscal environment that recognizes the sizeable technical and financial challenges of very large and complex projects with significant risk.“BC has a world class resource, robust environmental protection, incredibly talented people, great education and health care systems and a stable political environment.” said Keane. “Our members want to invest in British Columbia.”The role of the Alliance is to foster the growth of a safe, environmentally and socially responsible LNG industry in BC that is globally competitive. Members of the Alliance include: Kitimat LNG (Chevron Canada and Apache Canada); LNG Canada (Shell Canada Energy, PetroChina, Kogas and Mitsubishi Corporation); Pacific NorthWest LNG (Petronas, Japex, Indian Oil Corporation, Sinopec and PetroleumBrunei); Prince Rupert LNG (BG Canada); Triton LNG (AltaGas and Idemitsu Canada) and Woodfibre LNG (Pacific Oil and Gas).last_img read more

Doi ousts top-seeded Schiavone

Doi ousts top-seeded Schiavone

first_img IN FIVE EASY PIECES WITH TAKE 5 Following a rain delay that interrupted the second set, Doi converted another key break chance to seal the straight-sets win over 2010 French Open champion Schiavone. GET THE BEST OF THE JAPAN TIMEScenter_img BIRMINGHAM, ENGLAND – Misaki Doi scored a 7-5, 6-4 victory Wednesday over top-seeded Francesca Schiavone of Italy to earn a spot in the third round of the AEGON Classic tennis tournament.Doi and Schiavone traded two breaks apiece en route to a 5-5 tie, before Doi went up 6-5 and broke Schiavone’s serve a third time to win the set.last_img

Utes improve red-zone offense, but it took time after sputtering start

Utes improve red-zone offense, but it took time after sputtering start

first_imgSALT LAKE CITY — After an abysmal red-zone performance against BYU a week earlier when his Utes could only manage one touchdown in seven trips inside the red zone (opponent 20-yard line) and had to settle for four field goals, coach Kyle Whittingham vowed to be improved for Saturday night’s game against San Jose State at Rice-Eccles Stadium“We’ve got to get it solved,” Whittingham said earlier in the week, referring to the BYU game and the North Dakota game, when the Utes were 4-for-7 inside the red zone. “We’ve got to be better and we will be. I’m confident we will be.”Well, the Utes were better Saturday, but it took awhile for the offense to get going after sputtering in the early going for the third game in a row. The Utes ended up with five touchdowns on eight trips to the red zone and added field goals on two other trips.It’s hard to say the Utes need offensive improvement when they won as comfortably as they did Saturday night in front of another sellout crowd of 45,881. But they had several other opportunities to score in the first half but weren’t able to take advantage, because of turnovers and stalled drives.At first Whittingham was defensive when a reporter asked him after the game about the Utes’ slow offensive start, saying, “Uh, we scored 30 in the first half.” But then he added, “I don’t think we started slow, but we fizzled in the red zone again.” On their first journey into the red zone, the Utes stalled at the 3-yard line after a 72-yard drive and settled for the first of Matt Gay’s three first-half field goals.Gay made two more field goals in the first quarter, including the second-longest in school history at 56 yards, but the Utes didn’t reach the red zone before either score.On their fifth possession, the Utes finally put the ball in the end zone from the red zone when Tyler Huntley hit Darren Carrington with a 7-yard pass, finishing off a 6-play 43-yard drive.However, Utah’s next foray into the red zone ended in disaster. After receiving a pass from Huntley, Samson Nacua fumbled at the 4-yard line and the ball rolled to the pylon, resulting in a touchback and ending the U. scoring threat.The next time the Utes scored, they didn’t make it to the red zone as Huntley hit Carrington with a 26-yard touchdown pass to make it 23-3. Then they capped off a 48-yard drive with a 5-yard run by Zack Moss, their second success inside the red zone.The Utes reached the red zone for the first time in the second half late in the third quarter in the midst of a 9-play, 80-yard drive. They scored a touchdown on an 11-yard pass from Huntley to Raelon Singleton, who made an impressive diving catch in the corner of the end zone.Then with 11:21 left in the game, the Utes added another score on a 15-yard pass from Huntley to Carrington, the third TD connection between the two and late in the game added another Gay field goal from 20 yards and a 10-yard TD run by Devontae Henry-Cole.”We came out slowly and then we got into a rhythm,” said Huntley. “We fixed our mistakes and turned things into points.”Just as disturbing to Whittingham, as was the red-zone mediocrity, was all the Ute turnovers, three big ones in the first half. Besides Nacua’s fumble, Huntley fumbled at his own 15 in the first quarter, which led to an early SJSU field goal and Huntley was intercepted late in the first half, which led to a late Spartan touchdown just before the half.”We had three turnovers in the first half,” Whittingham said. “Three is too many for a football game and that is something we need to continue to work on.”However, the Ute defense came up with three first-half turnovers that led to touchdowns, pass interceptions by Julian Blackmon and Sunia Tauteoli and a fumble recovery by Bradley Anae that was caused by Kavika Luafatasaga. Utah report card: Utes close out nonconference play going 3-0 Utah notes: Another late night for the Utescenter_img Utah slams San Jose State 54-16 to cap non-conference play Relatedlast_img read more

Cavani denies there’s a problem with PSG team-mate Neymar

Cavani denies there’s a problem with PSG team-mate Neymar

first_img “These things are created. I don’t know why these stories are created. The truth is that these are normal things; things that happen in football,” the Uruguay striker told Gol de Medianoche de Radio Universal. It wasn’t the first time, either. In the 57th minute, when PSG had a free-kick, the Brazilian Dani Alves hid the ball from Cavani and delivered it to Neymar.  “He [Neymar] has just arrived and like I said from the off we are keen for him to adapt in the best way possible. I think that’s been proven because you can see he is adapting quickly.”   EFE Neymar’s the most expensive football player in history after PSG paid Barça 222 million euros for him. On Sunday, in the 78th minute of the win over Lyon, though, Cavani refused to let him take a penalty — the Uruguayan took, and missed, it.  “I learned of the story just now talking with my brother, about people saying that Cavani won’t let anyone take penalties and that there’s a problem with Neymar. The truth is that there’s no problem.  IN SPORT.ES Upd. on 19/09/2017 at 11:34 CEST Footage from the PSG-Lyon game suggested differences between the two Edinson Cavani denied that there’s a problem with his team-mate Neymar after the two disputed which of them should take free-kicks and penalties for Paris Saint-Germain during their 2-0 win over Lyon at the weekend.  Cavani niega problemas con Neymar Cavani joined PSG in 2013 and scored 49 goals in 50 games in all competitions last season. 18/09/2017last_img read more