Latest in Tag: central bank Highlight
Latest in Tag: central bank
Egyptians are bracing for higher prices despite recent declines in food prices as fuel prices increase throughout the country
The governing council of the European Central Bank has decided to leave its current interest rates 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
Turkish stocks and the lira have remained under selling pressure after a failed coup shook the country on Friday, now forcing the central bank to lower interest rates for the fifth consecutive month.
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.
Slovenia’s central bank has confirmed that Governor Bostjan Jazbec is under investigation as part of the probe into alleged irregularities at the bank in 2013. The ECB has threatened legal action.
In two separate reports, the central banks of Germany and France are seeing Europe’s two biggest economies on a firm footing over the next few years, although cutting their growth forecasts slightly.
The days of the eurozone’s highest-denomination banknote may be numbered. The Governing Council of the European Central Bank is meeting on Wednesday to discuss whether the currency area still needs 500-euro bills.
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 …
Last month, hackers plundered the accounts of Bangladesh’s central bank, making off with $80 million. It was one of the biggest banking heists in history – and it would’ve been a lot bigger were it not for a simple typo.
You can trade them in for legal tender, but Germans still hold Deutschmarks. Fourteen years after Europe began switching to the euro, the Bundesbank says the combined stash of notes and coins is worth 6.6 billion euros.
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 …
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 …
This year is the one most challenging years for monetary policy, says Hisham Ramez
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 …
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 …
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 …
EIPR argues that President’s decree to remove independent bodies’ heads poses threat to accountability, effective governance
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” …
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 …
The CBE also kept the discount rate unchanged at 9.25%.
Rate ranges between EGP 7.8 to EGP 8 in unofficial market.
Other decrees raised military pensions by 15%, approved foreign loans to enhance electricity
Higher energy prices may be driving inflation, says former IMF assistant
Central Bank of Egypt increased interest rates by 1% to contain high inflation expected after subsidy decrease and petroleum price increases
Foreign debt recorded at $45.3bn, while domestic debt reached EGP 1.7tn
Deputy Governor of Central Bank says stimulating national economy, working on bank performance, and keeping pace with international developments are top priorities
Financial Institution remains confident on back of positive market developments
Rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.
Reuters – Business activity in Egypt shrank for the third month in a row in May, a poll showed on Tuesday, in a sign the economy remains fragile as former army chief Abdel Fattah Al-Sisi is set to become the country’s next president. Egypt’s economy has been hit by more than three years of political and …