The Latest Breaking News from central bank

Iraqi PM Replaces Central Bank Governor over Currency Drop

Iraq’s prime minister on Monday replaced the governor of the country's Central Bank following a weekslong plunge of the Iraqi dinar, the state news agency reported. Prime Minister Mohammed Shia al-Sudani made the move after the governor, Mustafa Ghaleb Mukheef, told him he no longer wishes to stay in the…

Asharq Al-Awsat · Jan 23, 2023

European Delegation Ends 1st Round of Questioning in Lebanon

A European legal team on Friday wrapped up the first round of questioning of Lebanese bankers and current and former Central Bank officials in Beirut, officials in Lebanon said. The questioning is part of a probe on money laundering linked to Lebanon’s Central Bank governor. Lebanon is grappling with the…

Asharq Al-Awsat · Jan 21, 2023

European delegation ends 1st round of questioning in Lebanon

Judicial officials say a European legal team has wrapped up the first round of questioning of Lebanese bankers and current and former Central Bank officials in Beirut

The Independent UK · Jan 20, 2023

A Quarter of Iraq's Population Lives Below the Poverty Line

A quarter of Iraq's population lives below the poverty line, despite the estimated $100 billion reserves at the Central Bank of Iraq, the largest in the country's modern history, according to bank sources. Economists and finance experts believed Iraq's problem was not related to its wealth but to lousy management…

Asharq Al-Awsat · Jan 11, 2023

Egypt's inflation surges on amid currency's dramatic slide

Egypt's statistics bureau says the nation is continuing to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes

The Independent UK · Jan 10, 2023

Lebanese Parliament Won’t Legislate 'Writing Off’ Bank Deposits

Lebanon’s Deputy Speaker Elias Bou Saab pledged Monday that Parliament will never agree to legislate any law that would write off deposits in Lebanon’s banks. Bou Saab was speaking following a session of the joint parliamentary committees devoted to resuming the discussion of the capital control bill. “There is hope…

Asharq Al-Awsat · Jan 10, 2023

Egypt Government Moves to Control Currency Exchange Rate

The Egyptian government pledged to “control the market,” stressing that the US dollar crisis is on its way to being resolved. It has also sought to crack down on currency dealers in the “black market.” The value of the Egyptian pound declined against the US dollar following the Central Bank’s…

Asharq Al-Awsat · Jan 2, 2023

Tunisia Central Bank Raises Key Rate by 75 Bps to Curb Inflation

Tunisia’s central bank on Friday raised its key interest rate by 75 basis points to 8% from 7.25% to combat high inflation, the bank said, marking the third hike this year. Tunisia's inflation rate jumped to a record 9.8% in November from 9.2% in October. "Through this action, the Central…

Asharq Al-Awsat · Dec 30, 2022

Yemeni Government Accuses Houthis of Exploiting Truce to Increase Looting

The Central Bank of Yemen in Aden affirmed its commitment to the monetary policies it set to protect the local currency from collapse and maintain the stability of the markets. In parallel, Information Minister Muammar al-Eryani accused the Houthi militia of exploiting the truce to double the looting of resources…

Asharq Al-Awsat · Dec 29, 2022

Understanding stagflation

Stagflation is a real problem for policymakers because the Central Bank can increase interest rates to reduce inflation or cut interest rates to reduce unemployment.

Fortune · Dec 28, 2022