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Kenya's central bank seeks to mop up 24bn shillings NAIROBI: Kenya's central bank said on Monday it planned to mop up 24 billion shillings ($240.00 million) in excess liquidity from the money markets. The bank uses repurchase agreements (repo) and term auction deposits (TAD) to absorb the liquidity, which makes expensive to hold dollars, which in turn contributes to a stronger shilling. Copyright Reuters, 2015 ...

Indonesia central bank governor sees a trade surplus for June JAKARTA: Indonesia will likely report a trade surplus in June, the central bank governor said on Monday. "I haven't gotten the latest estimation. But generally, the trade balance will be in surplus," Agus Martowardojo told reporters when asked about June trade data. The statistics bureau will release June trade data on July 15. Southeast Asia's largest economy had a trade surplus of $950 million in May, its sixth straight monthly surplus. Copyright Reuters, 2015 ...
German banks see limited risk of contagion from Greek 'No' FRANKFURT: The German banking federation said Monday it sees little danger of contagion for the wider euro area from the Greek crisis after Greece voted against the austerity measures demanded by its creditors."Regardless of the outcome of the referendum, we do not expect an increased risk of contagion for other euro countries," the head of the BdB federation, Michael Kemmer, said in a statement. Kemmer argued that the new structures put in place in Europe ...
China Construction Bank opens first branch in Italy MILAN: China Construction Bank Corp (CCB) , the country's second-biggest bank, opened its first Italian branch in Milan on Friday, further expanding its presence in Europe. CCB opened branches in Barcelona and Amsterdam in the past few days. A foothold in Italy's financial capital would help CCB promote trade between the euro zone's third-largest economy and China, which rose 8 percent in value last year to $47 billion, the bank said. CCB said it was ...
Indonesia central bank governor says higher fiscal deficit not a worry JAKARTA: Indonesia's central bank governor said on Friday he was not worried that the government's fiscal deficit this year might reach 2.23 percent of gross domestic product, significantly higher than in the budget.The government will not issue additional bonds but will use foreign loans to cover any increase in the deficit, Agus Martowardojo told reporters."The government does not have a plan to issue additional bonds, but will get foreign loans," he said.On Wednesday, Finance Minister ...
ECB eyes stress tests for non-bank financial institutions VILNIUS: European regulators need a broader toolkit and should develop stress tests to tackle possible systemic risks coming from the shadow banking sector, ECB Executive Board member Vitor Constancio said on Friday.Non-bank financial institutions such as insurance companies, pension funds and investment funds in equity markets are becoming increasingly linked to the wider financial sector, Constancio said in the text of a speech."The more policymakers are effective in using macroprudential tools to constrain excessive credit ...
Egypt's central bank lets pound weaken by 1.3pc CAIRO: The central bank let the Egyptian pound depreciate for the first time in five months on Thursday, a move analysts said would please the international investors that Cairo is courting. The bank said it sold $38.8 million at a cutoff price of 7.63 pounds per dollar at a regular auction, sending the currency to its weakest level since auctions began in December 2012. The new rate is 1.3 percent weaker than the rate of ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln