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Russian central bank expected to raise rates in tough call MOSCOW: Russia's central bank is expected to raise interest rates at a board meeting on Friday as it grapples with a falling rouble and rising inflation.But its decision will be tough, as higher interest rates will also weigh on economic growth, which is already slowing sharply as falling oil prices, Western sanctions imposed over Ukraine and tight monetary policy push Russia towards recession."The regulator has to take a difficult decision, and whatever choice they make will probably provoke a wave of criticism," BCS analyst Vladimir Tikhomirov said in a note.Analysts polled by Reuters this week predicted on average that the bank would raise its key lending rate by 50 basis points to 8.5 percent, the fourth rate hike this year.Some analysts have been calling for a steeper increase. In a note, Simon Quijano-Evans, head of emerging market research at Commerzbank, called for "a meaningful rate hike of at least 200 ...

Bank of Ireland capital and margins rise further in Q3 DUBLIN: Bank Of Ireland said it continued to generate capital at a significant pace during the third quarter, when its margins grew further and its stock of defaulted loans declined.The bank, Ireland's only lender to escape nationalisation, reported a half-year profit for the first time in five years in August and said on Friday it continued to benefit from the positive economic environment in its businesses in Ireland and Britain.Ireland's economy is set to grow ...
Bank of Italy sounded out Intesa on Monte Paschi rescue - La Repubblica MILAN: The Bank of Italy sounded out Italy's biggest retail bank Intesa Sanpaolo on whether it was ready to merge with bailed-out lender Monte dei Paschi but met with a "no", La Repubblica reported on Friday citing people close to the matter.Monte dei Paschi shares have lost almost 40 percent since results of Europe-wide bank stress tests on Sunday revealed it had a 2.1 billion euro ($2.6 billion) capital gap to fill.The newspaper said the ...
Turkish central bank to keep policy tight until inflation improves ISTANBUL: Turkey's central bank will keep monetary policy tight until there is a clear improvement in inflation, central bank governor Erdem Basci said on Friday.At the bank's quarterly inflation report news conference, Basci said he expects a significant fall in inflation in 2015.Copyright Reuters, 2014 ...
BoJ chief says at 'critical moment' for exiting deflation TOKYO: Bank of Japan Governor Haruhiko Kuroda said Friday Japan was at a "critical moment" in its bid to conquer years of falling prices, after policymakers ramped up its vast monetary easing programme."We can say the Japanese economy is now at a critical moment in its process of getting out of deflation," he told reporters in Tokyo. "The (easing) measures this time show the Bank of Japan's unwavering determination to exit deflation."Copyright AFP (Agence France-Presse), ...
Bank of Japan halves fiscal year economy growth outlook to 0.5pc TOKYO: Bank of Japan (BoJ) policymakers on Friday halved their economic growth outlook for the current fiscal year, citing lacklustre exports and slack consumer spending after an April sales tax rise dented activity.The BoJ, which also ramped up its monetary easing plan Friday in a bid to counter the downturn, said it now expects the world's third largest economy to expand 0.5 percent in the year to March, well down from a 1.0 percent growth ...
Citigroup cuts $600mn from Q3 profits for legal costs NEW YORK: Citigroup Thursday slashed its third-quarter earnings by $600 million due to higher legal costs, citing "rapidly-evolving" regulatory probes expected to result in more large settlements.Citi, which bested analyst forecasts with its October 14 earnings report, lowered quarterly net income to $2.8 billion from the originally reported $3.4 billion due to the additional charge.The $600 million is on top of the $951 million in legal expenses previously reported, which itself was an increase from ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln