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Singapore sticks to tight monetary policy, Q3 growth disappoints SINGAPORE: Singapore's central bank cut its forecasts for headline and core inflation this year but stuck to its tight monetary policy as expected on Tuesday, saying core inflation is likely to stay above its historical average over the next few quarters.In a widely expected decision, the Monetary Authority of Singapore (MAS) said it will maintain its policy of allowing a "modest and gradual" appreciation of the Singapore dollar, with no changes to the slope, width or centre of the policy band.The central bank kept its policy unchanged, even as economic growth in the third quarter came in below market expectations, with gross domestic product expanding 1.2 percent from the previous quarter on an annualised and seasonally adjusted basis.The median forecast in a Reuters survey had been for quarter-on-quarter growth of 1.8 percent. The quarter-on-quarter reading for second-quarter GDP was revised lower, to a contraction of 0.1 percent on an annualised ...

Russia on track to let rouble float freely: central bank chief MOSCOW: Russia is on course to freely float the rouble from next year, the central bank's governor said, but she defended the bank's policy of intervening to support the currency as it skidded to record lows in the past week.Elvira Nabiullina told lawmakers in Russia's lower house of parliament that the central bank had spent around $6 billion defending the rouble in the past 10 days. But she said the situation on the currency market ...
Russian central bank spends around $6bn in past 10 days to defend rouble: Nabiullina MOSCOW: Russia's central bank has spent around $6 billion defending the rouble in the past 10 days, the central bank's Governor Elvira Nabiullina said on Monday.Nabiullina added that the situation on the currency market was under control.The rouble has weakened around 18 percent against the dollar so far this year, pressured by falling oil prices, dollar strength and risk aversion to Russian assets due to Western sanctions over the Ukraine crisis.Copyright Reuters, 2014 ...
South Korea central bank seen cutting rates again this week SEOUL: South Korea's central bank is expected to cut interest rates on Wednesday for the second time in three months in a further bid to re-energize an underpowered economic recovery, a Reuters survey found on Monday.Of 30 analysts polled, 18 forecast the Bank of Korea would cut its seven-day base rate at its meeting on Wednesday. Six of the remaining 12 expect the central bank to cut rates in November instead of this month, after ...
Poland's central bank head: easing may end with one more cut WARSAW: Poland's monetary easing may end with one more rate cut and it is wrong to assume that the October cut was a start of a larger cycle, central bank governor Marek Belka was quoted as saying on Monday. Asked if the October cut was a start of a bigger easing cycle, Belka told Gazeta Wyborcza newspaper: "A totally wrong assumption - it may be just one more cut." "If it only depended on me, ...
Russia central bank makes 34.64bn roubles worth of forex interventions on Oct. 9 MOSCOW: Russia's central bank said on Monday that it had conducted 34.64 billion roubles ($858 million) worth of forex interventions to defend the rouble on Oct. 9. The central bank releases its interventions data with a two-day lag. The rouble has been sliding on falling oil prices and broad risk aversion towards Russia because of its role in the Ukraine crisis. Copyright Reuters, 2014 ...
Malaysia's three-way bank deal is far from done HONG KONG: Malaysia's three-way $26 billion bank deal is far from done. A merger of CIMB Group with two smaller rivals will create the country's largest bank by assets. Yet current share prices point to hurdles, including potential opposition from an Abu Dhabi sovereign investor or even a counterbid. A Malaysian pension fund could seal the deal, but only if it is allowed to vote. Under terms submitted for approval to the central bank, RHB ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln