China’s central bank, the People’s Bank of China (PBOC), has taken significant steps to support the struggling economy by reducing a key short-term interest rate and injecting substantial liquidity into the financial system. This move comes amid a global trend of monetary policy adjustments, with other major economies like the United States and Japan also making changes to their interest rates.
Wyndham Hotels & Resorts has announced the successful repricing of its $1.1 billion Senior Secured Term Loan B Facility, along with a $400 million upsize, which now matures in May 2030. The new interest rate is SOFR plus 1.75%, representing a 60 basis point reduction, with an issue price of 99.875%, the tightest in the SOFR era. This move is expected to generate annual interest savings of approximately $6 million, with no changes to the company’s maturities or covenants.
Mexican headline inflation is anticipated to rise slightly in early April, reaching 4.48% for the first 15 days of the month, according to analysts’ forecasts. Despite easing to 4.39% in early April, core inflation, which does not consider volatile energy and food costs, remains at its lowest level since May 2021. The increase in overall inflation comes after a low point of 4.25% last October and maintains it above the Bank of Mexico’s goal of 3% +/- 1%. While the central bank lowered its benchmark interest rate by 25 basis points in March, Deputy Governor Jonathan Heath indicated that the board may prolong the hold for an extended period amidst resilient inflation.
