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Russia's central bank makes surprise interest rate cut MOSCOW: Russia's central bank cut its main interest rate on Friday in a surprise move aimed at kickstarting the economy which is expected to contract sharply under the weight of Western sanctions and plunging oil prices.The announcement to slash its key interest rate to 15 percent from 17 percent marked the first cut since December 2011.The rate cut had come after the government urged the central bank to help boost the economy, prompting some analysts to accuse the bank of caving in to political pressure.The ruble tumbled following the announcement, falling to 81 against the euro and 71 against the dollar. A day ago, it was trading at 77.6 to the euro and 68.73 to the dollar.The bank argued that its action was "aimed at averting the sizeable decline in economic activity against the background of negative external factors", apparently referring to US and EU sanctions as well as sliding ...

Georgian central bank to tighten monetary policy next week TBILISI: Georgia's central bank plans to tighten monetary policy from next week, the bank's chief said on Friday, in an effort to maintain financial stability after a sharp fall in the value of the country's lari currency."We've decided to tighten monetary policy from next week by using all the mechanisms that we have," Georgy Kadagidze, the governor of the National Bank, told reporters.Kadagidze said the central bank was also likely to revise down its forecast ...
Japan fund managers favour bonds despite low yields TOKYO: Japanese fund mangers still want to put more than half their assets under management into bonds, despite falling yields, expecting a prolonged period of low interest rates around the world, a Reuters survey showed on Friday.But the survey of seven Japan-based fund managers, polled between Jan. 19 and 23, also found that some managers wanted to dabble in riskier "alternative assets" as returns from bonds dwindled.The survey found respondents on average wanted to allocate ...
BOJ set to watch and wait as Abe team urges caution on fresh easing TOKYO: The Bank of Japan has put monetary policy on hold and found backing for its wait-and-see stance from advisors to Prime Minister Shinzo Abe, who worry more easing could send the yen to damagingly low levels, according to officials in the administration and central bank.This newfound caution from some of the same Abe advisors who urged the BOJ to launch its massive stimulus in 2013, means Japan is set to be an outlier at ...
Portugal's Banco BPI posts surprise loss, still keen on Novo Banco LISBON: Portugal's second-largest listed bank, Banco BPI, posted on Thursday a surprise net loss in the last quarter of 2014 due to one-off charges, but its CEO said the results would not affect its capacity to vie for rival Novo Banco. BPI reported a net loss of 47.3 million euros ($53.5 million) for the quarter and of 161.6 million euros for all of last year. Analysts in a Reuters poll had expected a quarterly profit ...
Mexico central bank holds steady with eye on peso, weak growth MEXICO CITY: Mexico's central bank on Thursday held interest rates at a record low as policymakers eyed the risk that a sharply weaker peso could fan consumer prices higher while also noting big risks to growth. The bank kept its main interest rate at 3.00 percent, as expected by 19 of 20 analysts polled by Reuters. Policymakers said they would carefully watch the impact of a deep peso slump on inflation and said the currency ...
Bank of Canada to add certain C$ ABS to approved collateral list OTTAWA: The Bank of Canada announced plans on Thursday to add certain Canadian-dollar denominated term asset-backed securities to the list of eligible collateral under the central bank's Standing Liquidity Facility. The acceptable asset-backed securities would include those backed by residential mortgages. The change is slated to take effect on March 31. Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln