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Bank promises action after Turkish lira tumbles to new low ISTANBUL: Turkey's central bank on Tuesday said it would consider measures to support the embattled lira as the currency tumbled to a new low in value against the dollar, pressured by domestic jitters ahead of June 7 elections.The lira hit the new record low in value against the dollar of 2.68 to the greenback but rallied somewhat following the statement from the central bank.The bank took the hugely unusual step of publishing the agenda of its next monetary policy meeting on April 22 which will include measures to support the lira, including a cut in foreign exchange deposit lending rates."Other measures to support stability in financial markets will also be considered if deemed necessary," it said.Following the statement, the lira rallied to 2.67, a loss in value of 0.13 percent on the day.The lira, which has lost 11 percent of its value against the dollar since the end of January, ...

Indonesia holds key interest rate at 7.5 percent JAKARTA: Indonesia's central bank held its key interest rate steady for the second consecutive month on Tuesday, seeking to balance concerns over a weakening currency and slowing growth.Bank Indonesia's board of governors kept the rate at 7.50 percent, as expected.The bank cut the rate by 25 basis points in February in a bid to boost growth, which slipped to a five-year low in 2014, and after inflation slowed on the back of falling fuel prices.However, ...
Germany's Bundesbank backs IMF quota and governance reforms FRANKFURT: A top policymaker from Germany's Bundesbank urged on Monday global finance officials to push through reforms of the International Monetary Fund currently being held up by the United States. Last year, officials from the Group of 20 leading economies and representatives for all IMF member nations gave the US until the end of 2014 to ratify long-delayed IMF reforms which would give a more powerful voice to emerging market countries like China. Talking to ...
Deutsche Bank aims for strategy decision next week FRANKFURT: Deutsche Bank's management board aims to decide on its future business model next week and present its strategy at an extraordinary meeting of its supervisory board on April 24, Handelsblatt newspaper reported on Monday without citing sources.If supervisory board questions can be answered quickly, the strategy could be made public on April 29 alongside first-quarter earnings figures, the paper said, adding that the management board has yet to reach a consensus on the business ...
BOJ sees economy improving region by region, keeps upbeat view TOKYO: The Bank of Japan raised its assessment for three of Japan's nine regions, the most in more than a year, and maintained its rosy view for the remaining areas, signalling that the benefits of its stimulus programme was broadening.A weak yen boosted exports and lured more overseas tourists, whose strong appetite for goods ranging from consumer electronics to cosmetics are reviving regional areas long left out from the recovery, the BOJ's quarterly report on ...
Taiwan rejected as founding member of AIIB: Beijing BEIJING: Taiwan's bid to become a founding member of China's new regional development bank has been rejected, Beijing said Monday, dashing the island's hopes of having a platform in the institution from the start.Ma Xiaoguang, spokesman for the Beijing-based State Council Taiwan Affairs Office, said in a statement that a Hong Kong report the island had failed to become a founding member of the Asian Infrastructure Investment Bank (AIIB) was correct.But he held out the ...
Peru's central bank holds benchmark interest rate at 3.25pc LIMA: Peru's central bank left the benchmark interest rate unchanged at 3.25 percent on Thursday, as the bank weighed anemic economic growth with fears of stoking inflation. The market had widely expected a hold after inflation crept up recently, testing the upper limit of the bank's tolerance range in March. Copyright Reuters, 2015 ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln