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Brazil central bank says stable interest rates to curb inflation BRASILIA: Keeping interest rates at current levels will curb inflation in Brazil toward the official target, the central bank said in the minutes of its last rate-setting meeting released on Thursday.The bank last week kept its benchmark Selic rate on hold at 11 percent for the third straight time even after the economy fell into recession, signaling it will keep borrowing costs stable for some time to battle inflation. Copyright Reuters, 2014 ...

Kenya central bank seeks to mop up 7bn shillings NAIROBI: Kenya's central bank said on Thursday it was seeking to mop up 7 billion shillings ($79 million) of excess liquidity, the sixth trading session in a row it has taken such action. The central bank, which said it was offering term auction deposits (TADs) and repurchase agreements (repos), has regularly soaked up excess liquidity since last year. The action supports the shilling by making it more costly to hold dollars.Copyright Reuters, 2014 ...
Indonesia's central bank holds benchmark rate at 7.5pc JAKARTA: Indonesia's central bank held its benchmark reference rate steady at 7.50 percent on Thursday, as widely expected, while waiting to see whether the incoming president will hike fuel prices to cut subsidies. All 15 analysts in a Reuters poll predicted the central bank would keep its policy rate at 7.50 percent, where it has been since November. Last year, between June and November, Bank Indonesia raised the rate by 175 basis points to battle ...
Philippine central bank raises inflation forecasts for 2014-2016 MANILA: The Philippine central bank raised its inflation estimates for 2014 to 2016 due to the risks of higher food prices from tight supply conditions, pending utility rate increases and potential power shortages, a senior official said on Thursday. The central bank now expects average 2014 inflation at 4.5 percent against 4.3 percent previously, and 3.8 percent in 2015 versus 3.7 percent, Diwa Guinigundo, central bank deputy governor, told reporters. Both estimates are near the ...
Russia hopes to fulfil its 2014 domestic borrowing plan MOSCOW: The Russian Finance Ministry hopes that plans for sovereign domestic borrowing will remain unchanged for the rest of the year, the ministry's head, Anton Siluanov, said on Thursday. The ministry has been forced to cancel its eight-straight weekly auction for the so-called OFZ bonds on Wednesday, citing unfavourable market conditions. Investors have been shying away from Russian assets because of Moscow's involvement in the Ukraine crisis. Copyright Reuters, 2014 ...
Australia's NAB to move Scottish unit south if Scots vote for independence SYDNEY: National Australia Bank (NAB) , the country's No.4 lender by market value, said contingency plans for its Scottish-based subsidiary included moving to England if Scotland votes to end its 307-year union with the rest of the United Kingdom. The move would address some of the uncertainties and risks surrounding terms of separation for NAB's Clydesdale Bank if Scotland were to become an independent country, NAB said in a statement on Thursday, citing Group CEO ...
Clydesdale Bank could move to England if Scots vote 'yes' SYDNEY: National Australia Bank on Thursday said it could re-register its subsidiary Clydesdale Bank in England if Scotland votes for independence next week.The Australian bank confirmed its contingency planning in the event of a "Yes" vote included "seeking registration as an English company"."Re-registration would address some of the uncertainties and risks surrounding terms of separation if Scotland were to become an independent country," NAB said in a statement.Earlier Thursday Royal Bank of Scotland said it ...


Index Closing Chg%
Arrow DJIA 17,055.87 0.68
Arrow Nasdaq 4,508.69 0.42
Arrow S&P 1,982.77 0.58
Arrow FTSE 6,676.08 1.44
Arrow DAX 9,595.03 1.58
Arrow CAC-40 4,359.35 1.87
Arrow Nikkei 16,205.90 0.71
Arrow H.Seng 23,837.07 0.49
Arrow Sensex 26,775.69 1.58

Banking Review 2013

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln