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The Latest Breaking News from central bank

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

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

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

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Russia's economy is still working but sanctions are starting to have an effect

Despite unprecedented sanctions, Russia's economy is still functioning and it's still attacking Ukraine. That's led to questions about whether the sanctions are effective.

WEKU

Iraqi Dinar Continues to Weaken against US Dollar

Iraq’s currency plummeted to a new low against the US dollar. In the northern Kurdistan region, the rate stood at 1,550 Iraqi dinars to the dollar - the lowest it has traded since 2004, according to experts. The depreciation in the dinar’s value triggered a wave of severe anxiety in…

Asharq Al-Awsat

Missed inflation target, digital currency pilot mark RBI's 2022 map; growth vector to dominate ahead

MUMBAI: The Reserve Bank of India failed to deliver on its contracted inflation target for the first time, started fiat digital currency pilot and finally saw its efforts to improve bank balance sheets see fruition in 2022, making it a mixed year for the central bank.

The Times of India

UAE Central Bank Sees GDP Growth at 7.6% This Year

The UAE’s central bank expects real gross domestic product growth of 7.6 percent this year from its previous forecast of 6.5 percent, citing stronger performance of non-oil sectors including tourism, hospitality, real estate, transportation, and manufacturing. In quarterly review report for the third quarter of this year, the Central Bank…

Asharq Al-Awsat

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Iran Central Bank Governor Blames Protests for Currency’s Fall

Iran's central bank governor on Saturday partly blamed recent anti-government unrest for the fall of the Iranian currency to record lows, while authorities detained a prominent actress who had voiced support for protesters. The unrest also saw groups of oil workers holding protests on Saturday to demand higher wages, according…

Asharq Al-Awsat

Iran central bank governor blames protests for currency's fall

Reuters

Almost two-thirds of Irish people in favour of scrapping one cent and two cent euro coins

The Eurobarometer poll surveyed almost 18,000 people across the euro area, including over 1,000 in the Republic, in October

Irish Mirror

Saudi Arabia to Expedite Opening of Accounts for Foreign Companies

The Saudi Central Bank (SAMA) has called on local banks to facilitate and speed up the procedures for opening accounts for foreign companies, in order to encourage them to transfer their regional headquarters to the Kingdom. The step is aimed at strengthening the country’s economy, providing employment opportunities, and boosting…

Asharq Al-Awsat

Lebanese actress linked to Central Bank governor arrested

Lebanese judicial officials and the state-run National News Agency say an actress with links to the country’s Central Bank governor has been placed under arrest after showing up for questioning

The Independent UK

Lifting restrictions on banking 'bonanza pay and bonuses' slammed as 'galling'

Roisin Shortall called on the Minister for Finance Paschal Donohoe to justify his decision to lift salary pay caps of €500,000 for senior bank management

Irish Mirror

Lebanon’s Central Bank Says Audit of Gold Reserves Completed ‘Successfully’

Lebanon’s Central Bank announced on Friday that the audit of the bank’s gold reserves- coins and ingots- which came at the request of the International Monetary Fund, has been completed “successfully.” The bank said that the amount of gold bullions declared corresponded exactly with the quantity of gold in its…

Asharq Al-Awsat

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Asharq Al-Awsat

Lebanon: Tenfold Increase in Customs Duties

The Ministry of Finance announced on Wednesday that the government will start collecting customs duties with a tenfold increase, starting the first of December. The announcement came a day after the Governor of the Banque du Liban said that the official exchange rate of the dollar would be raised to…

Al Jazeera

As Russia’s war in Ukraine drags on, Turkey’s role expands

Turkish President Erdogan has maintained regular contact with Putin and economic ties despite Western sanctions.

Asharq Al-Awsat

Lebanon’s National Currency Tumbles as Central Bank Issues ‘Ambiguous’ Measures

The Lebanese pound exchange rate on the black market has slid to nearly LBP 40,000 to the US dollar amid conflicting reports about a delay in new regulatory measures that the Central Bank is preparing to take, which requires raising the price of allowances for withdrawals from hard currencies. In…

Asharq Al-Awsat

Sudan Raises Prices of Gasoline, Diesel

Sudan's energy ministry raised the price for car petrol to 620 Sudanese pounds ($1.07) per liter from 522 pounds per liter, it said in a statement on Thursday. It raised the price for diesel to 720 pounds per liter from 672 pounds, it said. The Ministry said the decision came…

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The Independent UK

Wages in Ireland increased by 4.7% in a year, according to new figures

Analysis by Indeed and the Central Bank indicate that wage growth ‘accelerated sharply’ in the first half of the year.

Newsroom.co.nz

Taxing banks' excessive profits – be careful what you wish for

Hard-working New Zealanders will suffer the consequences of bank windfall taxes: higher interest rates, monetary policies frustrated, and a weaker financial system.

Dynamite News

Digital Rupee: Central Bank Digital Currency Is Going To Be Major Transformation Of The Way Business Is Done, Says RBI Guv

Governor Shaktikanta Das said, "Yesterday, we launched the trial of our digital currency, Central Bank Digital Currency (CBDC) project. It was indeed a landmark moment in the history of currency in our country. Read on for details:

Benzinga

India Is Testing A Digital Rupee: 9 Lenders Join In For A New CBDC Pilot Project

The Reserve Bank of India (RBI) has launched the Central Bank Digital Currency (CBDC) for the wholesale market as part of its first pilot test program to evaluate and enhance the functionality of the digital rupee.

Bangkok Post

Bank of Thailand continues push for digital currency

The Bank of Thailand (BoT) plans to take more time to develop its retail central bank digital currency (CBDC) to ensure it offers additional benefits to the financial system with good risk management.

Dublin Live

Commemorative Luke Kelly coin worth €64.99 sells out in under an hour

The piece went up for sale at 2pm today on the Central Bank's website

Irish Mirror

Why did Liz Truss resign and who will replace her as UK prime minister? Latest news

Events in the House of Commons on October 19 made it clear that the prime minister had lost control

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