Latest in Tag: central bank Highlight
Latest in Tag: central bank
Egyptās Central Bank to decide on EGPās interest in the last MPC meeting of 2022
The basic interest rate has been raised by 5% in 2022
Pundits expect Central Bank to keep interest rate unchanged in 6th monetary policy meeting for 2021
MPC decided, on 5 August, to maintain basic interest rates with CBE, at 8.25% for deposit, 9.25% for lending, and 8.75% for main operation at CBE
Hazem Hegazy named CEO of Al Baraka Bank Egypt subject to Central Bank approval
Hegazy has more than 30 years of experience in banking sector, especially retail activities, SMEs
Egyptās Central Bank issues guiding principles for sustainable financing
Principles are important step in supporting Egyptās development efforts, plans to achieve sustainable growth
Egyptās Central Bank, Communications Ministry partner to facilitate government e-payments
The Central Bank of Egypt (CBE) has signed a cooperation protocol with the Ministry of Communications and Information Technology to facilitate the provision of government services digitally. The cooperation protocol was signed by Tarek Amer, Governor of the CBE, and Amr Talaat, Minister of Communications and Information Technology. The cooperation protocol aims to activate the …
Egyptās inflation to hover around midpoint of target 7% in Q4 of 2022: Central Bank
Monetary Policy Committeeās decisions regarding interest rate have been appropriate, consistent with achieving target inflation of 7% (Ā±2) on average by 2020 end
Egyptās Cabinet reviews Central Bank initiatives to support economic sectors
CBE serves as compass directing Egyptās banking sector since COVID-19 outbreak, says PM Madbouly
Egyptās Financial Regulator, Central Bank to establish fund to finance brokerage firms
There is increasing interest in stock marketās role in supporting Egyptian governmentās economic development plans: FRA Chairperson
Egyptians brace for rising prices due to fuel subsidy cuts
Egyptians are bracing for higher prices despite recent declines in food prices as fuel prices increase throughout the country
ECB council meeting leaves rates untouched
The governing council of the European Central Bank has decided to leave its current interest rates unchanged.
ECB keeps rates, asset buys unchanged
The European Central Bank has left key interest rates and its QE asset purchasing scheme unchanged. The move was largely expected as analysts said the bank needed to save some monetary ammunition for a December meeting.The ECB held its key refinancing rate at a record-low level of 0 percent on Thursday, where it’s
Turkish central bank cuts rates after failed coup
Turkish stocks and the lira have remained under selling pressure after a failed coup shook the country on Friday, now forcing the central bank to lower interest rates for the fifth consecutive month.
Germany issues bonds with negative interest
Investors are now paying to own German bonds, as they flock towards safe havens amid Brexit fears and turbulent stock markets. The ECB’s quantitative easing program further pushes down interest rates on sovereign debt.
Slovenia central bank confirms investigation of Governor Jazbec
Slovenia’s central bank has confirmed that Governor Bostjan Jazbec is under investigation as part of the probe into alleged irregularities at the bank in 2013. The ECB has threatened legal action.
Germany, France seen on stable growth track
In two separate reports, the central banks of Germany and France are seeing Europe’s two biggest economies on a firm footing over the next few years, although cutting their growth forecasts slightly.
ECB expected to phase out 500-euro banknotes
The days of the eurozone’s highest-denomination banknote may be numbered. The Governing Council of the European Central Bank is meeting on Wednesday to discuss whether the currency area still needs 500-euro bills.
Basic interest rate raised by 1.5%
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided during its meeting Thursday to raise the basic interest rate by 1.5% on deposits and loans. The decision will increase the overnight rate to is 10.75% and the loan rate to 11.75%. The MPC also increased the deposit and discount rate by …
Hacker’s spelling slip foils billion-dollar bank heist
Last month, hackers plundered the accounts of Bangladesh’s central bank, making off with $80 million. It was one of the biggest banking heists in history – and it would’ve been a lot bigger were it not for a simple typo.
Germans still hoarding old Deutschmarks, as central bank issues reminder
You can trade them in for legal tender, but Germans still hold Deutschmarks. Fourteen years after Europe began switching to the euro, the Bundesbank says the combined stash of notes and coins is worth 6.6 billion euros.
Fed keeps rates steady as US data worsen
The US Fed has kept its interest rates unchanged, with analysts growing increasingly skeptical about prospects for the central bank to tighten monetary policy before the end of the year given weakening economic data. The world’s most powerful central bank hasn’t hiked rates in about a decade, and analysts as well as investors didn’t expect …
China announces further stimulus amid slump
The People’s Bank of China has cut interest rates for the sixth time since November as the drooping economy shows few signs of picking up any time soon. This comes as leaders are expected to lower China’s growth target. China’s central bank on Friday announced further stimulatory steps to jumpstart its flagging economy, cutting interest …
CBE governor, FEI representatives discuss industry problems
This year is the one most challenging years for monetary policy, says Hisham Ramez
IMF calls on US Fed to ‘hold off’ on rate hike
The International Monetary Fund (IMF) believes the US central bank has room to postpone raising interest rates this month amid a “pretty bumpy” global economic situation, including fears of a slowdown in China. Speaking to reporters in Washington on Thursday, IMF spokesman William Murray said the global lender saw “flexibility” on the part of the …
Argentina orders HSBC to replace country chief
Argentina’s central bank is cracking down on the banking giant HSBC amid a multi-billion-dollar tax Argentina evasion scandal. It has demanded that the British lender’s local unit president be replaced within 24 hours. In addition to charges of aiding tax evaders, the central bank in Buenos Aires also accused HSBC Argentina president Gabriel Martino of …
China slashes interest rates to back economy
China’s central bank has once again cut interest rates and lowered the amount of cash banks must have on hand to ease pressure on lenders amid fears that the world’s second-largest economy could be slowing. The People’s Bank of China (PBoC) cut its benchmark lending and deposit rates by 0.25 percentage points on Tuesday, the …
New report highlights expansion of presidential powers
EIPR argues that Presidentās decree to remove independent bodiesā heads poses threat to accountability, effective governance
Fed leaves door open for September rate hike
Following a two-day policy meeting, the Federal Reserve kept its benchmark interest rates unchanged at near zero percent. The central bank also said that the US economy and jobs market are continuing to strengthen. The bank’s rate-setting Federal Open Market Committee said in a policy statement on Wednesday that the US economy has expanded “moderately” …
IMF’s Lagarde: Greek debt restructuring ‘inevitable’
The head of the International Monetary Fund, Christine Lagarde, has insisted that any new bailout program for Greece requires significant restructuring of the cash-strapped eurozone nation’s massive debt load. In an online press conference on Wednesday, Lagarde reiterated her view that any new plan for Greece had to include significant restructuring of the country’s debts …
CBE maintains key interest rates
The CBE also kept the discount rate unchanged at 9.25%.
Dollar stable at EGP 7.53 at CBE, EGP 7.63 at NBE
Rate ranges between EGP 7.8 to EGP 8 in unofficial market.