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06th of September 2010
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News Tag: central bank

August 19, 2010

Central Bank lifts German growth forecast to 3%

by Kay Murchie
”Central
Germany’s central bank, the Deutsche Bundesbank, has today lifted its growth forecast for the economy. The German economy, which is Europe’s largest, is expected to grow by 3% this year - much higher than its previous forecast of 1.9%. "More than half the decline in production triggered by the crisis has been made good," the Bundesbank said. "Favorable conditions ...



August 18, 2010

Iceland’s central bank cuts interest rates to 7%

by Kay Murchie
”Iceland’s
Iceland’s Central Bank (Sedlabanki Islands) has slashed its key interest from 8% to 7%. While a cut was expected, it was not as much as economists had forecast after inflation eased and the country's currency, the krona, strengthened. The central bank has aggressively cut interest rates after they hit a record high of 18% in October 2008 - at the height ...



June 22, 2010

China takes action to relax currency

by Kay Murchie
’China
China has today taken action to honour its pledge in making its currency, the yuan, more flexible. On Saturday, policymakers pledged to make the yuan more flexible but then just 24 hours later the central bank’s website said: “There is at present no basis for major fluctuation or change in the [yuan] exchange rate.” However, its pledge to “strengthen the flexibility” of ...



June 21, 2010

Markets expect China to relax yuan

by Kay Murchie
Markets expect China to relax yuan
Stock markets in Asia have gained today after comments by China's central bank about its currency policy this weekend. Policymakers had pledged to make the yuan more flexible but then just 24 hours later the central bank’s website said: “There is at present no basis for major fluctuation or change in the [yuan] exchange rate”. However, its pledge “strengthen the flexibility" of ...



June 20, 2010

China’s central bank will keep yuan stable

by Kay Murchie
China’s central bank will keep yuan stable
China’s central bank has refused to bow to pressure to allow its currency, the yuan, to find its own level, after the bank’s website said: "There is at present no basis for major fluctuation or change in the [yuan] exchange rate". The country’s currency policy has been widely criticised and its comments come just 24 hours after the central bank said ...



February 24, 2010

Federal Reserve chairman pledges low interest rates for long-term

by Kay Murchie
Federal Reserve chairman pledges low interest rates for long-term
Chairman of the Federal Reserve Ben Bernanke has today said US interest rates will need to stay low in order to keep the economic recovery on track. In a testimony before Congress, Bernanke said there was a "nascent economic recovery" and said long-term recovery will depend on private sector’s demand for goods and services. Bernanke, who was recently awarded ...



December 1, 2009

UAE takes action to allay investors fears

by Kay Murchie
UAE takes action to allay investors fears
Shares in Dubai continued their decline today following the country’s debt crisis after the stock market closed 5.61% down. Abu Dhabi lost 3.57%, while Qatar's main index closed down 8.27%. However, in a bid to calm investors fears, the president of the United Arab Emirates has attempted to reassure them by issuing a statement saying that region's economy was in ...



November 30, 2009

India’s economy grows 7.9% on year

by Kay Murchie
...



November 25, 2009

US central bank raises 2010 forecast

by Kay Murchie
US central bank raises 2010 forecast
The US central bank, the Federal Reserve, yesterday lifted its outlook for economic growth in 2010 to a range of 2.5% to 3.5%. The forecast was raised marginally from its July estimate of between 2.1% and 3.3%, indicating that the US expects unemployment to ease early next year. Currently, the US unemployment rate is at 10.2%. The forecast accompanied minutes from the ...



November 20, 2009

Deflation returns to world’s second largest economy

by Kay Murchie
”Deflation
Naoto Kan, Japan's deputy prime minister, has today acknowledged that deflation has returned to the world’s no.2 economy for the first time since 2006. The Cabinet Office said in a statement that "Japan is in a mild deflationary situation". A short period of deflation (where prices fall rather than increase) could be a serious threat to the economy because it deters ...



November 5, 2009

Fed leaves interest rates at record low

by Kay Murchie
Fed leaves interest rates at record low
US Central Bank, the Federal Reserve, has opted to keep interest rates at the record low of close to zero and hinted that they would stay this way for the short-term at least. Despite signs of an improvement within the world’s largest economy, the Fed said that low inflation and high levels of unemployment were “likely to warrant exceptionally low levels ...



May 1, 2009

Brazil central bank cuts interest rates to 10.25%

by Peter Charalambous
”Brazil
The Brazilian central bank has cut interest rates by 1 percent to 10.25 percent, while the move was widely expected, many investors are disappointed that the reduction was not greater with a 1.5 percent rate cut being mooted. This was evidence that the central bank has reduced their policy of monetary easing, although the benchmark interest rate has been set ...



April 25, 2009

Russian central bank cuts interest rates by 0.5%

by Peter Charalambous
”Russian
Analysts have suggested that the central bank of Russia has cut interest rates by 0.5 percent following pressure from Prime Minister Vladimir Putin, since the reduction came a day after Putin met business leaders who called for a reduction in lending rates. The key refinancing rate fell to 12.5 percent and the government has given assurances that inflation has been ...



April 22, 2009

India unexpectedly cuts interest rates

by Peter Charalambous
India unexpectedly cuts interest rates
The central bank of India has reduced interest rates for the sixth time in sixth months to a new record low, with the economy expanding at its slowest rate since 2003. The reverse repurchase rate has been cut from 3.25 percent from 3.5 percent, although economic forecasts are still indicating that economic growth may fall to 6 percent. The global economic downturn has brought ...



April 20, 2009

Pakistan cuts interest rates for the first time in 6 years

by Peter Charalambous
”Pakistan
Pakistan has cut interest rates for the first time since 2002, with a 1 percent cut bringing down lending rates to 14 percent for commercial banks. The central bank raised interest rates by 2 percent back in November, which was the fourth consecutive increase since the global economic outlook receded in 2008. However, since the economy has ...



March 4, 2009

BSA: Rate cuts an ‘assault’ on savers

by David Masters
Rate cuts an 'assault' on savers
Further cuts to the Bank of England's base rate (BBR) would be an 'assault' on both savers and borrowers, the Building Societies Association (BSA) said this week. The BBR is already at an all time low of 1%, and analysts widely expect the central bank to announce additional cuts later this week. However, the BSA warned that cutting the BBR again would be ...




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