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Canada central bank keeps 1pc interest rate OTTAWA: The Bank of Canada announced Wednesday it was keeping its key lending rate at one percent, the same low rate it has maintained for the past four years.In a statement, the central bank cited the nation's low inflation rate, currently around two percent, as a major reason for maintaining its current key lending rate, also citing global economic headwinds."Underlying inflationary pressures are muted, given the persistent slack in the economy and the continued effects of competition in the retail sector," the statement said.The central bank said prospects were bright for "stronger momentum" in the global economy over the next two years, but said "persistent headwinds continue to buffet most economies, and growth remains reliant on exceptional policy stimulus."The bank also cited other areas of potential weakness, including "ongoing geopolitical uncertainties and lower confidence," its statement said.It said however that the outlook for Canada's export sector is encouraging, particular for ...

Bank of England split on need to raise rates: minutes LONDON: Bank of England policymakers were split for a third month in a row over the need to lift its record-low interest rate, minutes of their last meeting showed on Wednesday.The bank's nine-member monetary policy committee (MPC) voted 7-2 in favour of keeping its key lending rate at 0.50 percent at its October meeting, repeating the voting pattern over the previous two months.As in August and September, policymakers Ian McCafferty and Martin Weale voted for ...
Austrian central bank sees weak GDP growth for rest of 2014 VIENNA: Austria's economy will likely have grown just 0.1 percent in the third quarter and grow 0.2 percent in the fourth as exports slacken and political tensions cap business and consumer sentiment, a leading indicator suggested on Tuesday.The latest readings from the central bank's quarterly business cycle indicator added to evidence that the euro zone is stuck in a quagmire of weak growth and inflation, with even Germany, its biggest member, close to a recession.The ...
Romania central bank expects no surprises from ECB stress tests BUCHAREST: European Central Bank financial stress tests should not reveal any surprises for the Romanian banking system, the Bucharest central bank's governor Mugur Isarescu said on Tuesday, despite funding from the West having fallen.Isarescu told reporters funding from foreign banks for their Romanian affiliates had fallen by 9 billion euros over the past five years.The ECB publishes the results of its comprehensive review of the health of Europe's 130 biggest banks on Sunday, Oct. 26.Copyright ...
India's HDFC Bank Q2 profit up 20pc, lags estimates MUMBAI: HDFC Bank Ltd, India's second-biggest private sector lender by assets, on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses.Net profit rose to 23.81 billion rupees ($388.51 million) in its fiscal second quarter to Sept. 30, from 19.82 billion rupees a year earlier, the Mumbai-headquartered bank said in a statement.Analysts had on average expected a net profit of 24.25 billion rupees.Copyright ...
Swedbank warns on growth as quarterly profit tops forecast STOCKHOLM: Banking group Swedbank said on Tuesday growth in its home markets could be dragged down by a weak global economy and political uncertainty in Sweden as it posted forecast-beating profits boosted by lending to corporate and mortgage clients.The bank, which pulled out of Russia and Ukraine last year to focus on Sweden and the Baltics, warned credit demand in the Baltics could be hit by turmoil in Ukraine but said it had not yet ...
CIMB Thai Bank says to miss 2014 loan target due to weak economy BANGKOK: The Thai unit of Malaysian bank CIMB Group Holdings Bhd said on Tuesday it would miss its 15 percent loan growth target for this year due to weak economic growth, and forecast even slower loan growth in 2015. Loans grew 6.9 percent in the first nine months of 2014, when the bank set aside 5.7 billion baht in loan loss provision, Narongchai Wongthanavimok, senior executive vice president at CIMB Thai Bank told reporters. "The ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln