Union Bank of the Philippines (UnionBank) chief economist Ruben Carlo Asuncion told the Philippine News Agency (PNA) that hot money
inflows may get a lift from the lower inflation rate, which in turn, will boost domestic consumption.
" The so-called hot money
enters and exits the country with ease, unlike firmer commitments like foreign direct investment.
The central bank attributed the narrower hot money
deficit in the first six months of the year to the improved domestic inflation data for May which was within the government's target of 2-4 percent; the resumption of trade talks between the United States and China during the recently held G20 meeting in Japan, and possible interest rate cuts of the US Federal Reserve.
The head of Thailand's central bank has said that the apex bank is not happy with 'hot money
' flowing into the economy.
The revised hot money
outlook follows a new balance of payments projection of a $3.7-billion surplus position versus an earlier (November 2018) estimate a shortfall of $3.5 billion, mainly because they expect strong inflows this year.
The April net outflows pushed the overall hot money
aggregate in the first four months of the year down to a net inflow of $37.27 million-a stark contrast from the $1.22 billion in the first four months of 2018.
We are not interested in hot money
. We want capital inflow, but not for trading in the market.
Money experts expect that a large share of hot money
will exit the EGX by the end of 2016, to be replaced by either foreign funds for medium- and long-term investments, or the entry of local investors.
is everywhere and you can't be selective.
ySTANBUL (CyHAN)- Turkey might have to deal with a severe cash drought within the next six months unless the government takes some urgent measures to lure hot money
from abroad, a top union warned on Thursday.
In mid-March, the People's Bank of China announced that the daily movement in the yuan/dollar rate would be increased from plus or minus 1 percent to plus or minus 2 percent to further dampen the enthusiasm of hot money
Federal Reserve (FED) to end the high liquidity party in the global economy could specifically cause huge hot money
outflows from some emerging countries that have high current account deficits, such as Turkey," said CaAdaA Unal, an economist at the World Bank's Ankara office, Hurriyet Daily reports.