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Tag Archives: central bank

BOJ new board member Funo Says, central bank achieve 2% price target

TOKYO: Bank of Japan’s newest board member Yukitoshi Funo said the central bank must achieve its price target, indicating his support for Governor Haruhiko Kuroda. “The 2 percent inflation target must be met” Funo, a former executive of Toyota Motor Corp., said in his inaugural press conference Wednesday in Tokyo. “Price stability and higher productivity is needed for Japan’s sustainable ... Read More »

Vietnam’s Techcombank to issue $298.5-mln bonds in 2015 : central bank

HANOI: Vietnam’s unlisted lender Techcombank, 19.41 percent owned by HSBC Holdings Plc, plans to issue bonds to raise VND6.5 trillion (US$298.51 million) in 2015, the country’s central bank said on Tuesday. While the central bank did not provide any details on the issue, Hanoi-based Techcombank should follow the plan submitted to the State Bank of Vietnam (SBV), SBV said in ... Read More »

Kenya’s central bank to mop up $194.67 million shillings

NAIROBI: Kenya’s central bank said it was seeking to mop up 19 billion shillings ($194.67 million) in excess liquidity from the market. The bank normally uses liquidity management as a tool of stabilising the foreign exchange rate by making it slightly more expensive for traders to bet against the shilling. Read More »

Kenya shilling firm, central bank seen offering support next week

NAIROBI:  Kenya’s shilling was steady on Friday morning ahead of next week’s Monetary Policy Committee meeting when the central bank is expected to raise rates or announce other measures to support the battered currency. At 0642 GMT, the shilling was trading at 96.00/20 to the dollar, compared with 96.00/10 at Thursday’s close. Last week, the shilling weakened to around 99, ... Read More »

Central bank Bangladesh May remittances up 8.5% YOY

DHAKA: Money sent home by Bangladeshis working overseas in May rose 8.5 percent from a year earlier to nearly $1.32 billion, the central bank said. In July-May, the first 11 months of the 2014-15 financial year, Bangladesh received about $13.87 billion in remittances, up 7.2 percent from the same period of the previous year. Remittances from its millions of citizens ... Read More »

Central Bank of Azerbaijan import currency basket falls in price

ANKARA: Baku, Fineko/abc.az. The bi-currency basket, revived by the Central Bank of Azerbaijan, does not describe fully the disposition of currencies of the main consumer good suppliers in the country, but is much higher than the real import currency basket. According to customs statistics, the main suppliers of consumer goods in the country are Russia, Turkey and the EU (euro ... Read More »

South Korea’s Central Bank exploring biometric authentication systems

SEOUL: South Korea’s central bank is looking into biometric authentication systems, according to a BusinessKorea article by Cho Jin-young. The Bank of Korea announced its intentions via a new report. The plan is to work with the Committee on Financial Informatization Promotion (CFIP) to determine technical standards for the country’s 17 commercial banks by the middle of this year, and ... Read More »

Swiss Central Bank records losses of 41.1m francs for Q1 of 2015

BERN: The SNB said it suffered currency-related losses of 41.1 billion francs in the first three months of the year. The losses occurred as a result of the central’s bank’s decision on January 15th to discontinue the minimum euro exchange rate of of 1.20 francs. FX traders immediately bid up the value of the franc, driving it to near parity ... Read More »

Swiss Central bank records 41.1m francs for Q1 of 2015

BERN: The SNB said it suffered currency-related losses of 41.1 billion francs in the first three months of the year. The losses occurred as a result of the central’s bank’s decision on January 15th to discontinue the minimum euro exchange rate of of 1.20 francs. FX traders immediately bid up the value of the franc, driving it to near parity ... Read More »

Russian traders expect central bank to cut monetary policy

MOSCOW: Russia’s ruble opened weaker on Thursday, as traders expected the central bank to cut its main lending rate at a regular monetary policy meeting later in the day. At 0702 GMT, the ruble was around 0.6 per cent weaker against the dollar at 51.37 and lost 0.3 per cent to trade at 56.95 versus the euro. The central bank ... Read More »

Russian Bank to raise rate for foreign-currency loans to banks

MOSCOW: Russian ruble fell for a third consecutive day, extending losses from Monday when the Central Bank announced it would raise the rate for foreign-currency loans to banks. The Bank is trying to curb the 15 percent the currency has gained this year. Bank of Russia said it will increase the one-year foreign currency repurchase agreement (repo) to the London ... Read More »

Near-zero inflation can force New Zealand’s central bank to cut interest rates

WELLINGTON: Near-zero inflation could force New Zealand’s central bank to cut interest rates, a senior Reserve Bank of New Zealand official said Thursday, despite its fears that soaring house prices are threatening the country’s economic and financial stability. RBNZ assistant governor John McDermott said the bank was currently not considering raising its official cash rate (OCR) and it would ensure ... Read More »

Oman’s bank lending growth up 11.4% year-on-year in February

MUSCAT: Oman’s bank lending growth accelerated to 11.4 percent year-on-year in February, the fastest rate since January 2013, from 11.1 percent in January 2015, central bank data showed. But M2 money supply growth slowed to 10.9 percent, the slowest since December 2013, from 13.1 percent. Previous figures are revised. Percentage changes are Reuters calculations based on the official data. Read More »

Central bank to sell foreign exchange equivalent of 700 million Norwegian crowns

OSLO: Norway’s central bank will sell foreign exchange equivalent of 700 mln Norwegian crowns ($86.5 mln) per day in April, the bank said on its page. The bank is selling the currency because the government’s transfers to its $870 billion sovereign wealth fund have been smaller than earlier expected and the budget is spending more of its oil related income. ... Read More »

Norway central bank to continue buying Kroner for oil fund

OSLO: Norway’s central bank said it would continue to buy Norwegian kroner and sell foreign exchange in the market in November on behalf of the country’s sovereign-wealth fund. As in October, Norges Bank said it would sell the equivalent of 250 million Norwegian kroner ($37.2 million) a day in foreign exchange over the coming month and use the kroner it ... Read More »

European Central Bank’s 1.1 trillion euro stimulus plan meets 1st month goal

BERLIN: The European Central Bank’s 1.1 trillion euro ($1.2 trillion) stimulus program is off to a running start. The central bank said it has met its monthly goal of purchasing 60 billion euros in government and private-sector bonds, the first stage of an effort that is to last into next year. The bond purchases, which pump newly printed money into ... Read More »

Turiksh central bank exchange rate of lira falls to 104.05 in March from 105.44 in Feb

ANKARA: Turkey’s central bank said the real effective exchange rate of the lira, which the bank is monitoring to avoid excessive volatility, fell to 104.05 in March from a revised 105.44 in February. The rate measures the weighted average of domestic prices relative to those of Turkey’s trading partners. The bank said it had changed the way it calculates the ... Read More »

Norway central bank to sell foreign exchange equivalent of $86.5m per day in April

OSLO: Norway’s central bank will sell foreign exchange equivalent of 700 mln Norwegian crowns ($86.5 mln) per day in April. The bank is selling the currency because the government’s transfers to its $870 billion sovereign wealth fund have been smaller than earlier expected and the budget is spending more of its oil related income. The bank usually puts foreign currency ... Read More »

Norway central bank to sell foreign exchange equivalent of $86.5m per day in April

OSLO: Norway’s central bank will sell foreign exchange equivalent of 700 mln Norwegian crowns ($86.5 mln) per day in April. The bank is selling the currency because the government’s transfers to its $870 billion sovereign wealth fund have been smaller than earlier expected and the budget is spending more of its oil related income. The bank usually puts foreign currency ... Read More »

Bangladesh to open foreign currency accounts in July

DHAKA: Bangladesh has decided to open foreign currency accounts in july2015. A circular to this effect has been sent to chief executives of all banks dealing in foreign currencies. The central bank, in January, had given time to shipping companies, airlines, and freight forwarding agents until April to open such accounts. Authorities said the extension was because many of the ... Read More »