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BoJ's Kuroda: High chance BoJ to meet its inflation target TOKYO: Bank of Japan Governor Haruhiko Kuroda said on Thursday there is a high chance that consumer prices will reach the central bank's 2 percent inflation target sometime from the end of fiscal 2014 to the beginning of fiscal 2015. Upward pressure on consumer prices will increase due to improvements in the supply-demand balance, but the positive impact from energy prices will start to fade, Kuroda said in a speech. The BoJ last week maintained its pledge of increasing base money, its key monetary policy gauge, at an annual pace of 60-70 trillion yen ($590-$690 billion). The BoJ launched the stimulus April last year, saying it would lift inflation to 2 percent within around two years via aggressive asset purchases as it sought to end 15 years of deflation.Copyright Reuters, 2014 ...

Lloyds says offer to buy back bonds oversubscribed LONDON: Lloyds Banking Group said an offer to bondholders who helped rescue it five years ago to swap their holdings into new debt, or cash out now in case the bonds get called at par, had been oversubscribed.Lloyds issued the bonds, which were designed to boost the bank's capital if it ran into trouble, in 2009.But new UK and European capital rules in force this year mean the bonds may no longer count as capital ...
Deutsche Bank says on track for 2015 targets FRANKFURT: Deutsche Bank on Thursday said it was on track to meet its 2015 targets in investment banking after it restated its 2013 results to include around 350 million euros ($487 million) in settlement costs and around 50 million euros more to impair assets. The bank said that its litigation reserves declined to 1.8 billion euros at end-2013 following expenses incurred to settle the long-running Kirch lawsuit. Copyright Reuters, 2014 ...
Credit Agricole eyes 4bn eur net profit by 2016 PARIS: Credit Agricole aims to lift net profit by 60 percent to over 4 billion euros ($5.56 billion) in 2016, the French bank said on Thursday, helped by cost cuts and more product cross-selling at a time of slow growth at home. The number-three listed French bank by market value, which is hosting an investor day in London, is eyeing growth after slashing its balance sheet and exiting markets such as Greece in order to ...
Philippine central bank chief signals policy tightening soon MANILA: The Philippine central bank, in its strongest hint that interest rates may be hiked soon, said on Thursday that "measured" adjustments in monetary policy may be needed even though it expects inflation to stay within its target. Speaking ahead of a policy review on March 27, Bangko Sentral ng Pilipinas Governor Amando Tetangco told reporters an "early" and "gradual" adjustment in monetary policy stance rather than "discreet movements" would be less disruptive to businesses. ...
Osborne brings some cheer to Britain's drinks industry LONDON: Britain's finance minister George Osborne raised some cheer for the drinks industry on Wednesday, announcing he would cut beer duty by one pence a pint whilst freezing duty on spirits and cider. In his annual budget statement, Osborne said in addition he would scrap the duty escalator for all alcohol, which added two percent plus inflation to prices each year, meaning wine would now rise with inflation. With Scotland's independence referendum moving closer, Osborne ...
Turkish central bank sells 23bn lira in repo, bids 45.56bn lira ISTANBUL: The Turkish central bank injected 23 billion lira ($10.37 billion) into the market in a one-week repo auction on Wednesday at a fixed simple rate of 10 percent, data showed. Bids totalled 45.56 billion lira for the repo, which matures on March 26. Copyright Reuters, 2014 ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln