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Kenyan policy meeting seen delivering deep rate cut  NAIROBI: Kenya's central bank is expected to drastically cut its interest rate at a meeting on Wednesday after inflation fell to a 19-month low in August, giving policymakers the confidence to take aggressive measures to jumpstart growth, a Reuters poll showed.   All nine analysts polled by Reuters expect the Central Bank of Kenya to cut its policy rate after year-on-year inflation fell for the ninth straight month in August to 6.09 percent, the lowest since January 2011, and a sharper fall than analysts' expectations.   Last year soaring inflation and volatile currencies in east Africa's three largest economies -- Kenya, Tanzania and Uganda -- forced policymakers to impose aggressive monetary tightening measures to reign them in.   Kenya's Monetary Policy Committee (MPC) ramped up the central bank rate by 11 percentage points in the last quarter of 2011 to 18 percent and held it there for seven consecutive months, before cutting it to 16.5 percent ...

BoE members   LONDON: The Bank of England is widely expected to stick to its current programme of government bond purchases this week and the main interest will be in any behind-the-scenes change in the debate following the departure of asset purchase advocate Adam Posen.   Thursday's decision will be the first for new rate-setter Ian McCafferty, who joins the nine-member Monetary Policy Committee from the Confederation of British Industry. Here is a summary of the existing public positions of ...
ECB should only supervise big banks: Schaeuble  BERLIN: German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all euro zone banks, saying it should instead focus only on systemically important institutions.   The Commission's plans to give the ECB the power to oversee all banks is intended as a first step towards a full European banking union. The EU executive body is due to publish its detailed proposals on banking supervision ...
No credit exposure limit for primary dealers in govt debt  MUMBAI: The Reserve Bank of India said on Monday primary dealers would not have to follow credit exposure limits for government bonds.   In earlier guidelines, primary dealers were advised to adhere to a credit exposure limit of 25 percent of their net owned funds to a single borrower and 40 percent of their net owned funds to group borrowers.   However, primary dealers should include credit risk exposures for non-government securities, the central bank said in a statement.   Copyright ...
Thai central bank seen holding rate on Weds; inflation steady  BANGKOKL: Thailand's central bank is expected to leave its benchmark interest rate unchanged for a fifth straight meeting on Wednesday to help industry continue its recovery from last year's devastating floods at a time of increased global risks.   Fourteen of 16 economists polled by Reuters expected the Bank of Thailand (BoT) to leave its one-day repurchase rate at 3.0 percent when its monetary policy committee (MPC) meets.   The other two predicted a 25 basis-point cut.   The MPC made ...
Russia MOSCOW: Nomos bank , one of a few listed non-state Russian banks, posted on Monday 3.85 billion roubles ($119 million) in second-quarter net profit, up 51 percent from the same period last year.   Nomos, in talks to be bought by Otkritie Financial Corporation, was expected to post 2.79 billion roubles in the second quarter net profit, according to a Reuters poll.   For the first six months of 2012, the lender reported a 7.1 billion rouble net profit, ...
Ex- BoJ deputy governor Iwata urges monetary easing to weaken yen  TOKYO: Bank of Japan needs to ease monetary policy by buying longer-dated government bonds and foreign assets to weaken the yen and remove a key obstacle to Japan's emergence from more than a decade of deflation, a former Bank of Japan deputy governor said.   "Risks to Japan's economy are heightening, so further monetary easing is necessary," Kazumasa Iwata, the former deputy governor, told Reuters in an interview on Monday.   Iwata is a member of a government panel ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln