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Swedish central bank deputy governor to step down STOCKHOLM: Swedish Central Bank Deputy Governor Barbro Wickman-Parak is to step down in May when her period of office expires, the bank said on Monday.Wickman-Parak, 66, one of the four members of the six-member board who are seen as being more hawkish, said in a statement she felt she did not want to stand again due to her age.There was no mention in the statement of the future of another deputy governor, Lars Svensson, whose term expires at the same time. He is one of the two doves on the board and has criticised the fact that the bank has undershot its 2 percent inflation target. Copyright Reuters, 2013 ...

Hungary central bank does not want unorthodoxy: Pleschinger BUDAPEST: Hungary's central bank is unlikely to pursue unconventional monetary policy tools and it should only lower its foreign currency reserves carefully, parallel with a declining external debt, a future monetary policy maker said on Monday. "I do not believe the central bank wishes to use non-conventional tools," Economy Ministry State Scretary Gyula Pleschinger, nominated for the central bank's policy making Monetary Council on Monday, told a mandatory parliament hearing. He added that the government's ...
HSBC bank says 2012 net profit drops 16.5pc LONDON: Asia-focused banking giant HSBC announced on Monday that net profits sank by 16.5 percent to $14.03 billion (10.78 billion euros) in 2012 compared with the previous year.Profit after tax had stood at $16.8 billion in 2011, London-headquartered HSBC said in a results statement.Copyright AFP (Agence France-Presse), 2013 ...
BoJ nominee vows to conquer deflation TOKYO: The government's pick to lead the Bank of Japan vowed Monday to do "everything possible" to reverse years of growth-sapping deflation, and blasted previous BoJ management for failing to fix the problem.Haruhiko Kuroda, an experienced finance veteran who has announced his resignation as head of the Asian Development Bank, is widely expected to be confirmed by parliament as Japan's top central banker in the coming weeks.The 68-year-old has long criticised the central bank for ...
Bernanke says low nominal rates don SAN FRANCISCO: Federal Reserve Chairman Ben Bernanke on Friday said one key lesson from the Great Depression is that in times of economic distress, the numerical level of interest rates can be a misleading indicator of monetary stimulus levels."Monetary policy needs to be accommodative and not too tight, and you need to be careful about confusing low nominal interest rates with easy policy, which was a mistake that was made in the '30s," he told ...
Brazil 2012 GDP worst in three years: IBGE RIO DE JANEIRO: The Brazilian economy grew a mere 0.9 percent in 2012 despite government stimulus measures, its worst performance in three years, official statistics showed Friday. This was the worst result by the world's sixth largest economy since 2009, when its GDP contracted by 0.3 percent as a result of the international economic crisis. The Brazilian Institute of Geography and Statistics (IBGE) said that in the fourth quarter of last year, GDP rose 0.6 ...
Bankia offers covered bond buyback of up to 750mn eur MADRID: Rescued Spanish lender Bankia said on Friday it was offering to buy back up to 750 million euros ($980.5 million) of covered bonds. The part-nationalised bank, which this week reported losses of 19.2 billion euros for 2012, said investors had until March 12 to take up the offer. Bankia, Deutsche Bank and JPMorgan are managing the offer. Copyright Reuters, 2013 ...


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Arrow FTSE 6,722.62 0.01
Arrow DAX 9,980.85 0.06
Arrow CAC-40 4,390.18 0.18
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Arrow Sensex 28,693.99 0.90

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln