Latest in Tag: central bank Highlight

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Latest in Tag: central bank

The Central Bank of Egypt (CBE) has said that portfolio investment flows directed to emerging markets (EMs) will witness a slow and uneven recovery in favour of regions with the strongest economic recovery.

Egypt’s Central Bank, Communications Ministry partner to facilitate government e-payments

The Central Bank of Egypt (CBE) has signed a cooperation protocol with the Ministry of Communications and Information Technology to facilitate the provision of government services digitally. The cooperation protocol was signed by Tarek Amer, Governor of the CBE, and Amr Talaat, Minister of Communications and Information Technology. The cooperation protocol aims to activate the …

Hossam El-Din Talaat

ECB keeps rates, asset buys unchanged

The European Central Bank has left key interest rates and its QE asset purchasing scheme unchanged. The move was largely expected as analysts said the bank needed to save some monetary ammunition for a December meeting.The ECB held its key refinancing rate at a record-low level of 0 percent on Thursday, where it’s

Deutsche Welle

Germany issues bonds with negative interest

Investors are now paying to own German bonds, as they flock towards safe havens amid Brexit fears and turbulent stock markets. The ECB’s quantitative easing program further pushes down interest rates on sovereign debt.

Deutsche Welle

Basic interest rate raised by 1.5%

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided during its meeting Thursday to raise the basic interest rate by 1.5% on deposits and loans. The decision will increase the overnight rate to is 10.75% and the loan rate to 11.75%. The MPC also increased the deposit and discount rate by …

Daily News Egypt

Fed keeps rates steady as US data worsen

The US Fed has kept its interest rates unchanged, with analysts growing increasingly skeptical about prospects for the central bank to tighten monetary policy before the end of the year given weakening economic data. The world’s most powerful central bank hasn’t hiked rates in about a decade, and analysts as well as investors didn’t expect …

Deutsche Welle

China announces further stimulus amid slump

The People’s Bank of China has cut interest rates for the sixth time since November as the drooping economy shows few signs of picking up any time soon. This comes as leaders are expected to lower China’s growth target. China’s central bank on Friday announced further stimulatory steps to jumpstart its flagging economy, cutting interest …

Deutsche Welle

IMF calls on US Fed to ‘hold off’ on rate hike

The International Monetary Fund (IMF) believes the US central bank has room to postpone raising interest rates this month amid a “pretty bumpy” global economic situation, including fears of a slowdown in China. Speaking to reporters in Washington on Thursday, IMF spokesman William Murray said the global lender saw “flexibility” on the part of the …

Deutsche Welle

Argentina orders HSBC to replace country chief

Argentina’s central bank is cracking down on the banking giant HSBC amid a multi-billion-dollar tax Argentina evasion scandal. It has demanded that the British lender’s local unit president be replaced within 24 hours. In addition to charges of aiding tax evaders, the central bank in Buenos Aires also accused HSBC Argentina president Gabriel Martino of …

Deutsche Welle

China slashes interest rates to back economy

China’s central bank has once again cut interest rates and lowered the amount of cash banks must have on hand to ease pressure on lenders amid fears that the world’s second-largest economy could be slowing. The People’s Bank of China (PBoC) cut its benchmark lending and deposit rates by 0.25 percentage points on Tuesday, the …

Deutsche Welle

Fed leaves door open for September rate hike

Following a two-day policy meeting, the Federal Reserve kept its benchmark interest rates unchanged at near zero percent. The central bank also said that the US economy and jobs market are continuing to strengthen. The bank’s rate-setting Federal Open Market Committee said in a policy statement on Wednesday that the US economy has expanded “moderately” …

Deutsche Welle

IMF’s Lagarde: Greek debt restructuring ‘inevitable’

The head of the International Monetary Fund, Christine Lagarde, has insisted that any new bailout program for Greece requires significant restructuring of the cash-strapped eurozone nation’s massive debt load. In an online press conference on Wednesday, Lagarde reiterated her view that any new plan for Greece had to include significant restructuring of the country’s debts …

Deutsche Welle