interest rate

Brazil's central bank cuts key rate to 11.25 percent

Brasília - Arab Today

Brazil's Central Bank cut the key interest rate by one percentage point on Wednesday in an accelerating strategy of trying to inject life into the floundering economy. This was the fifth straight cut, taking the key Selic rate to 11.25 percent. "The evidence suggests a gradual resumption of (economic) activity," the bank said in a statement.Read more

Tunisian Central Bank: 25% Debts Increase by End of 2016

Tunis - QNA

Tunisia's total volume of cumulative debt service has increased by almost 25% last December to 4,088.7 million Tunisian dinars (MTD), compared with the same period of 2015, according to the monetary and financial indicators, published by the Central Bank of Tunisia (BCT). The Central Bank also reported the decline in cumulative tourism earnings on the same date by 104.6Read more

Banque Misr attracted $850m since pound flotation decision

Cairo - MENA

Board Chairman of Banque Misr Mohamed el Etreby said the bank attracted large dollar resources, amounting to some US$ 850 million since Egypt floated the pound on November 3. Etreby told reporters on Sunday that the bank honored all requests of importers for different goods. The bank opened letters of credit hitting 1.370 million dollars since the pound flotation decision,Read more

Finance Ministry auctions $4bn bonds at Irish bourse

Cairo - MENA

The Finance Ministry announced Thursday auctioning dlrs 4 billion bonds at the Irish Stock Exchange. The interest rate of the 1.360 million dollar bonds will be 4.62 percent annually and their maturity date on December 10, 2017. The interest rate of the 1.320 million dollar bonds will be 6.75 percent annually and their maturity date on November 10, 2024. TheRead more

NBE to offer CDs at 16%, 20% interest rates

Cairo - MENA

The National Bank of Egypt (NBE) will offer two certificates of deposit (CDs) at a 16% interest rate (three-year maturity) and 20% (18-month maturity), an official source at the bank said. The new figures were announced after the Central Bank of Egypt officially liberalized the exchange rate of the Egyptian pound earlier, the source told MENA. The two certificates willRead more

CBE: Liberalization of exchange rate meant to serve national economy

Cairo - MENA

With the aim of achieving monetary stability and reaching a low inflation rate, the Central Bank of Egypt (CBE) decided Thursday to take a number of measures, including shifting from a fixed exchange rate system to a floating exchange rate system. As per the decision, all banks operating in Egypt will be able to set the exchange rate price ofRead more

New Zealand Cuts Official Interest Rate to Record Low

Wellington - QNA

The New Zealand Reserve Bank on Thursday cut its official interest rate by 0.25% to a record low of 2%. A strong New Zealand dollar was making it difficult for the bank to meet its target of 2% inflation, and a further interest rate cut was needed, Reserve Bank Governor Graeme Wheeler said, according to the (dpa). Slow global growthRead more

Australia Cuts Official Interest Rate to Record Low

Sydney - QNA

The Reserve Bank of Australia (RBA) cut the official interest rate by 0.25% to a record low of 1.5% Tuesday in a bid to stimulate the labour market and economic growth. Overall economic growth was continuing at a moderate pace with low inflation of 1.1% despite a large decline in business investment, RBA Governor Glenn tevens said. "The Board judgedRead more

Bank of Korea Cuts Rate to 1.25% for June

Seoul - QNA

South Korea's central bank has lowered the nation's key interest rate by 25 basis points in a surprise move. In its monthly monetary policy meeting on Thursday, the Bank of Korea(BOK) decided to cut the rate to a record low 1.25%, according to Korea's (KBS WORLD) radio. It marks the first rate cut in a year after the BOK loweredRead more