#Interest Rates
India’s benchmark 10-year bond yield was up five basis points at 6.70 per cent after the announcement
Türkiye’s central bank indicated it would continue easing in the months ahead, flagging a temporary rise in January inflation
Saudi Arabia, the region’s biggest economy, cut its repurchase agreement (repo) rate and reverse repo rate by 25 bps each to 5 per cent and 4.5 per cent, respectively
The decision is expected to influence lending rates and liquidity conditions across the country
Most GCC economies have been largely shielded from stubbornly high inflation elsewhere, and have implemented ambitious plans to diversify revenue sources and boost non-oil growth
The last time Türkiye’s central bank raised its main policy rate was in March when it hiked by 500 basis points
The Gulf region’s oil and gas exporters tend to follow the Fed’s lead on rate moves as most regional currencies are pegged to the US dollar
The Central Bank of the UAE (CBUAE) said it has reduced the base rate applicable to the overnight deposit facility (ODF) by 50 basis points, from 5.40 to 4.90 percent
The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent
The growth plan comes as Isbank marks its 100th anniversary and as Turkish authorities seek to stamp out soaring inflation with high interest rates
The bank has raised its policy rate by 4,150 basis points since June last year but has kept it unchanged at 50 per cent since March
The central bank hiked interest rates by 600 basis points (bps) on March 6, bringing total increases in 2024 to 800 bps
Dr David Wartenweiler, CFA, the bank’s chief investment officer, gives insights into the market outlook for the remainder of 2024
The policy decision follows the US Federal Reserve’s announcement to keep interest rates unchanged
The government raised domestic fuel prices by up to 15 per cent ahead of the IMF review, which had been postponed from July 10
The central bank raised interest rates by 600 bps on March 6 as part of an agreement with the International Monetary Fund
The banking group had QAR1.3tn in total assets in the six months ending June 30, a 5 per cent increase compared to the same period a year ago
Following the theme of its conference, EFG Hermes highlights opportunities available in frontier emerging markets
Geopolitical risks including a feared broadening of the Middle East conflict pushed oil prices up by about 6 per cent last week
The Central Bank of the UAE has said it would keep interest rates unchanged following a similar announcement by the US Federal Reserve overnight.
The private bank said to grapple with the prospect of more meaningful inflation in 2024 and beyond, investors might first look to equities
Inflation hit a 24-year peak of 85 per cent last year and surged again in recent months as the lira weakened for a third year in a row
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf states’ currencies are pegged to the dollar
The notification from CBUAE comes after the US Federal Reserve announced that it is maintaining its key policy rate unchanged
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf countries’ currencies are pegged to the dollar
One of the main sources of concern for the Qatari banking system has been the build-up of external debt
The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation
Inflation and interest rate forecasts will remain crucial in 2023
Spot gold was little changed at $1,674.62 an ounce as of 7.48am in Singapore
Central banks globally are set to keep raising interest rates to fight inflation, weighing on non-yielding assets like gold