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ECB's Mersch: German reservations reflected in QE's 'small print' BERLIN: European Central Bank Executive Board member Yves Mersch said in an interview published on Saturday that Germany's reservations about ECB bond-buying were reflected in the "small print" of the plan to pump fresh cash into the ailing euro zone economy."German reservations are taken into account fully, though perhaps only when you read the small print," he told Germany's Neue Osnabruecker Zeitung.Mersch, honing in on one of Germany's main worries about the Quantative Easing plan announced by ECB President Mario Draghi on Thursday, said it involved "no shared liability (for member states' debts), as would be the case with euro bonds".Germany's Bundesbank had opposed the ECB's bond-buying plan and the German government voiced reservations that it removed incentives for euro zone member states to carry out the kind of structural reforms prescribed by Chancellor Angela Merkel.Copyright Reuters, 2015 ...

Italy central bank chief won't comment on presidential rumours DAVOS: Italian central bank chief Ignazio Visco declined comment on Friday when asked if he would run for the Italian presidency succeeding Giorgio Napolitano who resigned last week, but did not rule it out. Asked at the World Economic Forum in Davos whether he was in line for the largely figurehead role, Visco said in English: "Would you allow me not to answer at all to this question. It is a question which should not ...
Turkish central bank chief sees inflation, real rates falling more ISTANBUL: Turkish inflation and real interest rates are likely to keep falling, central bank governor Erdem Basci was quoted on Friday as saying, days after delivering a rate cut seen as the start of a moderate easing cycle. The central bank lowered its main interest rate on Tuesday but drew a swift rebuke from government ministers who said the 50 basis point cut, five months ahead of a general election, was not enough to support ...
ECB QE plan brings rare Greek market relief LONDON: The European Central Bank's pledge to print new money delivered a rare boost to Greek markets on Friday, as investors heaved a sigh of relief that the country had not been excluded from the landmark scheme. Greek government bond yields tumbled and shares soared on the last trading day before elections that could revive fears over Athens's future in the euro club. The anti-bailout Syriza party is tipped to triumph in Sunday's vote. The ...
Serbian central bank intervenes to bolster dinar BELGRADE: The Serbian central bank sold euros on the domestic currency market on Friday to bolster the dinar, which fell to new lows on investors concerns over banks' exposure to Swiss franc-denominated loans, dealers said. The bank intervened with the dinar trading at 123.2 to the euro, or 0.33 percent weaker than Thursday's close. The dinar was trading at 123.1 at 1504 GMT.Copyright Reuters, 2015 ...
Bank of England's Carney says appropriate to look through oil prices LONDON: Bank of England Governor Mark Carney said on Friday it would be appropriate to look through the effect of declining oil prices on inflation at a time when wages are growing. Interest rates would need to increase gradually over the course of the next three years, if the BoE was to return inflation to its 2 percent target, he said in a newspaper interview in Davos, Switzerland. "It is appropriate to look through those ...
BNP Paribas's Polish arm Bank BGZ may face strike over redundancies WARSAW: BNP Paribas's Polish arm Bank BGZ said on Friday it was facing strike action by staff after it failed to reach an agreement with trade unions over redundancy packages and restructuring bonuses. The unions notified the bank that they would call a strike if their demands were not met, the bank said in a statement."The company's management board will make due diligence to resolve the dispute," the bank said. BGZ's spokeswoman declined to comment ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln