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Bank of England holds key interest rate at 0.5pc LONDON: The Bank of England will stick with its record-low interest rate and amount of stimulus to support the economy, it said on Thursday amid easing inflation and solid growth for Britain."The Bank of England's MPC (monetary policy committee) at its meeting on 9 April voted to maintain Bank Rate at 0.50 percent," it said in a statement."The committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion ($628 billion, 455 billion euros)."The panel had held a shortened meeting on Wednesday, instead of over two days, in order to allow some members to attend a key meeting of the International Monetary Fund in Washington.Thursday's decisions sparked little reaction in financial markets because they were in line with market expectations amid easing inflation and solid economic growth in Britain, analysts said."The Bank of England clearly wants to nurture recovery and ...

Turkish central bank sells 5bn lira in repo, bids 7.82bn lira ISTANBUL: The Turkish central bank injected 5 billion lira ($2.38 billion)into the market in a one-week repo auction on Thursday at a fixed simple rate of 10 percent, data showed. Bids totalled 7.82 billion lira for the repo, which matures on April 17. Copyright Reuters, 2014 ...
Deutsche Bank seeks shareholder approval for bonus increase FRANKFURT: Deutsche Bank will ask shareholders to approve raising limits on executive bonuses for 2014 as required by new European rules, according to an agenda for the bank's annual shareholder meeting to be held on May 22. European Union rules say that bankers' bonuses cannot exceed the annual fixed salary, or twice that if shareholders approve, to curb the sort of excessive risk-taking blamed for the 2008-09 financial crisis. Deutsche Bank said it did not ...
BoJ to project inflation to sustain near price goal for two years TOKYO: The Japanese economy is likely to produce sustained inflation of around 2 percent for at least two years from the middle of 2015, the Bank of Japan's latest projections will show, sources familiar with the central bank's thinking said. The upbeat estimate would underscore the central bank's conviction that Japan is on track to meet its 2 percent price goal by April next year, and reinforce the view that no imminent easing is on ...
PBOC injects net 55bn yuan for week, first net injection since late Jan SHANGHAI: China's central bank will drain 114 billion yuan ($18.39 billion) from the money markets through forward bond repurchase agreements on Thursday, traders said, meaning it will inject a net 55 billion yuan into the market this week.That will mark the first time it has injected funds on a net basis since the end of January.The People's Bank of China (PBOC) drained funds by issuing 70 billion yuan worth of 14-day repos and 44 billion ...
South Korea stands pat on interest rates SEOUL: South Korea's central bank on Thursday kept held interest rates at 2.5 percent for the 11th consecutive month, citing signs of recovery at home and abroad and uncertainty about the US Federal Reserve's stimulus. "Global economy is expected to continue moderate recovery, but there still are lingering risks as the US Fed's possible change of monetary policy can... pummel growth of emerging economies," the bank said in a statement.The Fed's huge asset-purchase scheme has ...
Bank of America to pay for illegal credit-card actions WASHINGTON: Bank of America will pay $772 million over illegal credit-card practices that lured consumers into signing up for added products and services, US regulators said on Wednesday.Bank of America will provide about $727 million in relief to consumers harmed by the practices, estimated to number 1.4 million, the Consumer Financial Protection Bureau said.The second-largest US bank also will pay a $20 million civil penalty to the CFPB, and a $25 million civil penalty to ...

 



 
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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln