Latest news and articles about central bank from NEX English
The Bank of Korea has kept interest rates unchanged, but a clear division among board members indicates a potential tightening of monetary policy to combat rising inflation. This decision comes amid increasing inflationary pressures and a weakening local currency against the dollar.
Ghana has announced a new strategy aimed at enhancing its gold refining capabilities by requiring major gold mines to sell at least 30% of their annual production to the central bank. This move is part of the government's efforts to bolster the country's foreign currency reserves.
Emmanuel Moulin, the candidate for the presidency of the Bank of France, warns that the European Central Bank must be prepared to act urgently against rising inflation. He emphasizes that tightening monetary policy has become imperative.
Christine Lagarde, President of the European Central Bank, has warned about the potential risks posed by euro-pegged stablecoins, indicating that they could negatively impact financial stability in the region.
Malaysia has maintained its benchmark interest rate unchanged for the fifth consecutive time, despite rising risks to growth from the ongoing conflict in the Middle East. This decision comes at a critical time for the Malaysian economy, which faces multiple challenges.
Economic circles in Syria and Turkey are anticipating the establishment of a correspondent banking account between the central banks of both countries. This follows statements from the Governor of the Central Bank of Syria, Abd al-Qadir Hasriya, highlighting the significance of this step in enhancing economic relations.
Asser Hamdi, a member of the tourism committee at the American Chamber of Commerce, stated that the Central Bank's initiatives to finance hotel construction and development represent a strategic step to enhance hotel capacity in Egypt. The bank offers financing at a subsidized interest rate of up to <strong>12%</strong>.
Asser Hamdi, a member of the tourism committee at the American Chamber of Commerce, stated that the financing initiatives launched by the Central Bank, particularly the support for establishing and developing hotels, enhance Egypt's hotel capacity, contributing to the tourism sector and attracting investments.
The Central Bank of Venezuela announced a decrease in the inflation rate to <strong>10.6%</strong> in April 2023, indicating a significant improvement in the country's economic situation. This decline follows a prolonged period of high inflation that Venezuela has endured.
The Central Bank of Kuwait has announced the renewal of a $2 billion deposit with the Central Bank of Egypt until next September. This move reflects the mutual trust between the two parties.
Ziad Bahaa El-Din emphasized that the Central Bank of Egypt has skillfully managed the exchange rate and the outflow of hot money, reflecting high performance in managing the national economy.
The Governor of the Central Bank of Egypt, Hassan Abdullah, and the Chairman of the Supreme Council for Media Regulation, Engineer Khaled Abdelaziz, signed a cooperation protocol to enhance the regulation of banking digital content. The protocol aims to improve electronic disclosure of financial and banking services.
Thai banks are preparing for a potential decline in fee revenues following the central bank's decision to standardize banking fees. Despite strong growth in the first quarter, new challenges loom on the horizon.
Kiwi Financial Technology and Services has received final approval from the Central Bank of Egypt to launch its app and financial card in the local market, reflecting a shift towards digital solutions. This move enhances the expansion of financial technology solutions in Egypt.
Iraqi President Nizar Namidi has called for support of the monetary policies implemented by the Central Bank, highlighting their positive impact on improving citizens' living standards and stimulating economic growth in the country.
The Turkish lira experienced a slight decline at the beginning of the week, trading at 44.87 against the dollar. This drop comes as markets await the central bank's decision on interest rates.
Standard & Poor's reports that UAE banks have achieved remarkable stability due to effective support from the Central Bank, mitigating the impact of regional tensions on the financial sector. This comes as political and economic crises escalate in the Middle East.
Dr. Mostafa Madbouly, Prime Minister of Egypt, emphasized the importance of ongoing coordination with the Central Bank to meet funding needs and strengthen the strategic stock of essential goods and petroleum products. This initiative is part of the government's efforts to boost development and improve the investment environment.
Prices in Russia have seen a slight increase of <strong>0.19%</strong> between March 31 and April 6, bolstering expert predictions for a potential cut in the key interest rate by the Central Bank of Russia. This comes amid data indicating a year-on-year decline in inflation.
Indonesia has experienced a significant decline in its foreign reserves during March, reaching the lowest level in two years. This drop comes amid efforts by the central bank to support the weakening Indonesian rupiah.
The Saudi Central Bank has issued a circular outlining 16 cases of amounts exempt from seizure due to court orders, including 13 cases that do not affect customer deposits. This follows a complaint from a citizen against a local bank for exceeding the legally defined deduction percentage.
The Central Bank of Egypt has announced a ban on banks providing credit facilities to entities not registered in the credit system. This decision aims to enhance transparency and accountability in the banking sector.
Taiwan's foreign reserves experienced their largest monthly drop since 2011 in March, as the central bank sold U.S. dollars to stabilize the local currency amid capital outflows driven by the war in Iran.
Inflation in the Czech Republic has accelerated to <strong>2.9%</strong> in September, remaining below the central bank's official target. This comes as the central bank evaluates the broader impact of rising fuel prices on the cost of living and economic growth.
The Central Bank has announced a series of precautionary and stimulating initiatives aimed at enhancing economic stability and growth. These measures come in response to significant global and local economic challenges.
The Chairman of the Supreme Media Council, Karam Gabr, and the Governor of the Central Bank, Hassan Abdullah, signed a cooperation protocol aimed at enhancing the regulation of digital banking content. This initiative is part of broader efforts to improve transparency and build trust in the banking sector in Egypt.
Inflation rates in the Eurozone have exceeded the European Central Bank's target due to rising oil prices. This surge occurs at a critical time for the European economy, raising concerns about potential negative impacts on economic growth.
The Central Bank has announced a package of precautionary measures worth <strong>760 million dinars</strong> aimed at enhancing the tourism and food security sectors in the country. This initiative is part of the government's efforts to address current economic challenges.
The Central Bank of the UAE has released new guidelines aimed at protecting consumers and promoting the responsible use of artificial intelligence technologies. This initiative comes as reliance on AI increases across various sectors, necessitating controls to ensure the safety of financial and technical transactions.
Turkey's annual inflation rate decreased to <strong>30.87%</strong> in March, down from <strong>31.53%</strong> in February. This figure is lower than economists' expectations despite economic pressures from the ongoing conflict in Iran.