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Credit Suisse expects Brazil bank lending to contract this year SAO PAULO: Commercial banks in Brazil are likely to reduce loan disbursements to companies and consumers by 8.5 percent this year, a senior economist with Credit Suisse Group AG said on Tuesday, the latest sign that Latin America's largest economy is struggling with slumping confidence and activity.Last year, bank lending rose 11.3 percent, the slowest pace of loan disbursements in Brazil since at least 2007. Some of Brazil's largest lenders plan to unveil their guidance for loan book growth for 2015 over the next couple of weeks. According to Nilson Teixeira, Credit Suisse's chief Brazil economist, state-controlled oil company Petr?leo Brasileiro SA could slash fuel prices by year-end. Teixeira spoke at an event sponsored by Credit Suisse in S?o Paulo. Copyright Reuters, 2015 ...

Irish central bank eases mortgage rules for first-time buyers DUBLIN: Ireland's central bank offered relief to first time house buyers as it finalised new regulations on Tuesday to introduce curbs on mortgage lending aimed at avoiding a repeat of a devastating property crash. The central bank kept a proposal that mortgages be subject to an 80 percent loan-to-value limit for anyone buying for the second time, but said first time buyers could now borrow 90 percent of the value of a home if it ...
UBS to charge large companies for Swiss deposits ZURICH: UBS said on Tuesday it had introduced a charge on deposits for certain large account balances in Switzerland, in a move which follows the surprise jump in the Swiss franc's exchange rate earlier this month.The Swiss National Bank shocked financial markets on Jan. 15 by removing a three-year-old cap on the franc's value against the euro and announcing even lower negative interest and Swiss bank-to-bank Libor lending rates."These extraordinary market conditions, coupled with increased ...
Turkish central bank says to base policies on inflation trend ISTANBUL: The Turkish central bank said on Tuesday it will continue to act decisively to bring down inflation, and make future policy decisions conditional on the pace of improvement in the inflation outlook.It also said in the minutes of last week's policy meeting that January indicators signaled a possible decline in annual food inflation, while seasonally-adjusted data pointed to sustained improvement in the underlying trend of core inflation indicators.Earlier on Tuesday, Central Bank Governor Erdem ...
Turkish central bank signals early policy meeting, possible rate cut ANKARA: Turkey's central bank may hold an early monetary policy meeting next week and discuss an interest rate cut if inflation continues to fall sharply, Governor Erdem Basci said on Tuesday.Basci, who is under pressure from the government to lower rates ahead of a June parliamentary election, said the bank could act as early as Feb. 4 if data due a day earlier shows January inflation slowing by more than 1 percentage point.The lira weakened ...
Kenya's remittances jump 10.7pc in 2014, help cushion currency NAIROBI: Money sent home by Kenyans living abroad rose 10.68 percent last year to $1.43 billion, the central bank said on Tuesday, setting a new annual record and cushioning the weakening local currency.Known as remittances, the cash is a major source of foreign exchange for east Africa's biggest economy alongside tea, horticulture and tourism. Kenyans abroad typically send money to help their families and to invest in projects like real estate.The shilling weakened gradually against ...
Turkish central bank cuts 2015 inflation forecast to 5.5pc ANKARA: Turkey's central bank cut its mid-point inflation forecast for the end of this year to 5.5 percent from a previous 6.1 percent, governor Erdem Basci said on Tuesday.At a news conference to announce the bank's quarterly inflation report, Basci said the midpoint of the bank's 2016 year-end inflation forecast was 5 percent.Copyright Reuters, 2015 ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln