Indonesia cuts max guaranteed rph, dollar deposit rates http://www.reuters.com/article/2011/10/12/indonesia-economy-deposit-idUSJ9E7I101 K20111012?

feedType=RSS&feedName=financialsSector Indonesia's state deposit agency (LPS) lowered the maximum guaranteed rupiah dep osit rate by 25 basis points to 7 percent, executive director Firdaus Djaelani s aid on Wednesday, after the central bank cut its overnight rate by 25 basis poin ts on Tuesday to boost growth amid a global economic slowdown. The LPS also lowered the maximum guaranteed dollar deposit rate by 75 basis poin ts to 2 percent. "The main reason for these cuts is because inflation is relatively low and banki ng liquidity remains sufficient, therefore bank deposit rates are expected to de cline," said Djaelani. China unveils steps to ease credit crunch for small firms http://www.reuters.com/article/2011/10/12/china-economy-sme-idUSL3E7LC23Z2011101 2?feedType=RSS&feedName=governmentFilingsNews China on Wednesday unveiled a set of measures to expand financing supports for c ash-starved small businesses, a step signalling some relaxation of credit contro ls but not amounting to a fundamental shift in monetary policy. The steps, including allowing small companies to issue more bills and bonds whil e paying less taxes, were announced on the government's web site (www.gov.cn) af ter a cabinet meeting presided over by Premier Wen Jiabao. China's RRR for big banks now stands at 21.5 percent, and the ratio for smaller banks, which tend to be more focussed on financing smaller firms, is 19.5 percen t or even lower. Hong Kong says to resume subsidised housing scheme http://www.reuters.com/article/2011/10/12/tsang-housing-idUSH9E7KQ01920111012?fe edType=RSS&feedName=financialsSector Hong Kong Chief Executive Donald Tsang said on Wednesday that the government wil l resume construction and sale of subsidised housing in an apparent bid to sooth e public discontent about the city's sky-high property prices. Tsang is proposing the construction of 17,000 subsidised flats over four years f rom fiscal year 2016/17 under the Home Ownership Scheme (HOS) to provide afforda ble homes to low-income families. The HOS is a government subsidised housing programme to give low-income resident s a chance to purchase flats at a sharp discount to the market price. Prices for Hong Kong's apartments, the most expensive in the world, have risen m ore than 12 percent this year, surpassing records in 1997 amid a low interest-ra te environment, strong economic growth and buying by mainland Chinese investors.