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Kenya central bank seeks to mop up 11bn shillings NAIROBI: Kenya's central bank sought to mop up 11 billion shillings ($127.15 million) in excess liquidity from the market via repurchase agreements (repo) on Friday. The bank has frequently mopped up liquidity this month after overnight borrowing rates tumbled, making it a bit cheaper for banks to fund long dollar positions, which in turn put pressure on the shilling. Copyright Reuters, 2014 ...

ECB's Visco says Italy needs reform to underpin recovery ROME: European Central Bank Governing Council member Ignazio Visco welcomed early signs of improvement in the recession-hit Italian economy on Friday but said they would have to be backed by sustained reforms if they were to strengthen into a lasting turnaround. "The signs of recovery that we are seeing are encouraging, but they need to be confirmed over the next months and years.It is essential that reforms continue," he said in a speech at a ...
Turkish central bank sells 14bn lira in repo, bids 27.61bn lira ISTANBUL: The Turkish central bank injected 14 billion lira ($6.40 billion) into the market in a one-week repo auction on Friday at a fixed simple rate of 10 percent, data showed. Bids totalled 27.614 billion lira for the repo, which matures on April 4. Copyright Reuters, 2014 ...
Mauritius central banker says policy behind the curve NAIROBI: Mauritius needs to raise interest rates in order to meet its year-end inflation target of 4 percent and begin halting a decade-long decline in saving levels, its central bank chief said on Friday. Monetary policy had fallen "hopelessly behind the curve", said Governor Rundheersing Bheenick, who in recent weeks has clashed with the finance minister over interest rates levels. Bheenick told Reuters he was worried by the jump in consumer prices over the past ...
Romania central bank keeps rates flat at record low BUCHAREST: Romania's central bank kept its benchmark interest rate unchanged at a record low of 3.50 percent as expected on Friday, ending a rate-cutting cycle that has lowered borrowing costs by 175 basis points since last July. The bank started easing last year, later than its emerging European peers due to persistently high inflation. It eventually had scope to cut thanks to a bumper harvest which pushed consumer prices to an all-time low of 1.1 ...
China central bank widens access to OTC bond products SHANGHAI: China will increase the range of bond products that the country's commercial banks are able to offer as it looks to diversify investment options for private investors, the People's Bank of China (PBOC) said on Friday.The country's leaders are encouraging greater private investment, promising greater transparency from the country's re-started initial public offering (IPO) market and increasing the range of financial products available to investors, as it looks to reduce company reliance on bank ...
Euro zone banks buy govt bonds in Feb: ECB data FRANKFURT: Euro zone banks mainly increased their holdings of sovereign debt in February after banks passed the year-end deadline for balance sheet data under the European Central Bank's asset review, ECB data showed on Thursday. Italian banks bought sovereign debt and recorded a 6.5 billion euro ($8.96 billion) rise after a 6.9 billion decrease in January. At a market value of 415.6 billion, Italian banks' holdings of government bonds remain the largest in the euro ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln