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Indonesia central bank seen keeping rates steady after presidential vote JAKARTA: Indonesia's central bank is expected to keep its benchmark rate on hold at a meeting on Thursday, one day after the country's presidential vote, a Reuters poll showed.All 11 analysts in the poll said the key reference rate would be maintained at 7.50 percent, where it has been since November, amid persistent pressure from the current account deficit and uncertainty about the election.Bank Indonesia officials have said they will continue to adopt a tight monetary policy to seek to keep the current account deficit at 3 percent of gross domestic product (GDP). In 2013, during which the rupiah weakened more than 20 percent against the dollar, the deficit was3.3 percent of GDP last year.Indonesia posted a trade surplus of $70 million in May, compared with a $1.96 billion deficit in April. Annual inflation eased to 6.70 percent in June from 7.32 percent in May.The analysts in the poll also ...

BoJ's Kuroda stresses resolve to maintain stimulus programme TOKYO: The governor of the Bank of Japan on Monday stressed the central bank's resolve to maintain its massive stimulus programme for as long as necessary to achieve its 2 percent inflation target. Haruhiko Kuroda also said the world's third-largest economy is set to continue recovering moderately as a trend, despite the pain from a domestic sales tax hike in April on household spending."The BoJ will examine upside and downside risks to the economy and ...
Hungary banks must convert forex mortgages in December: lawmaker BUDAPEST: Banks in Hungary will have to convert foreign currency mortgages into forints in December, a ruling party lawmaker said late on Saturday, adding that the government could offer to share some of their exchange rate losses.The conversion, and another new law passed on Friday which compels lenders to repay large sums to borrowers for unfair charges and interest rate hikes applied on loans in the past decade, are expected to mean more losses for ...
ECB to keep interest rates low, Europe must boost investment: Coeure AIX-EN-PROVENCE: The European Central Bank will keep interest rates very low for a very long period of time to ensure monetary stability but governments must also work to boost growth, ECB executive board member Benoit Coeure said.Speaking at an economic conference on Sunday, Coeure said governments must do their part by cutting debt and boosting investments. "The only way out is by investing," he said, adding that the current economic situation was very worrying.He urged ...
Saudi Hollandi Bank Q2 net profit jumps 28.1pc on higher income DUBAI: Saudi Hollandi Bank posted a 28.1 percent increase in second-quarter net profit on Sunday, boosted by higher operating income. The kingdom's oldest bank and its seventh-largest listed lender by assets made a net profit of 480.3 million riyals ($128.1 million) in the three months to June 30, compared with 374.8 million riyals in the corresponding period of 2013, it said in a statement. It cited higher operating income - which increased 17 percent year-on-year ...
ECB's Lautenschlaeger does not see bond-buying: paper FRANKFURT: European Central Bank executive board member Sabine Lautenschlaeger said she does not see the ECB embarking on a bond-buying spree in the near future, according to a German newspaper report."I absolutely do not see the purchase of government bonds on the horizon," she told Frankfurter Allgemeine Sonntagszeitung, according to an excerpt of an article to be published on Sunday.She said a large-scale purchase of bonds would only be an option if the ECB faced ...
Airbus says ‘jury still out’ on A330neo airshow launch AIX-EN-PROVENCE: Airbus Group has not decided whether it will launch its proposed A330neo jet at this month's Farnborough Airshow but is confident about the outlook for plane orders at the gala event, its strategy chief Marwan Lahoud said on Saturday.Airbus has drawn up plans to revamp its biggest-selling wide-body passenger jet to preserve a second front in its competition with the delayed Boeing 787 Dreamliner in addition to the new A350-800.Lahoud said "the jury is ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln