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(Eagle News) – The Bangko Sentral ng Pilipinas set its key policy rate at 3.25 percent, after the Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase by 75 basis points. This is effective Thursday, July 14, after the morning’s regular meeting of the Monetary Board. BSP Governor Felipe Medalla said that “accordingly, the interest rates on the the overnight deposit and lending facilities were raised to 2.75 percent […]
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in August 2016, to support non-mining industries as an unprecedented investment in resources waned. “The low level of interest rates is continuing to […]
ZURICH, Switzerland (AFP) — The creation of digital currencies, like bitcoin, by central banks could revolutionize the global financial system but also carries significant fraud risks, the Bank for International Settlements warned on Monday. In a report, the Bank for International Settlements (BIS) said the launch of cryptocurrencies by central banks had potential benefits but could also have a detrimental impact, including exposing banking centers to a greater risk of cyber attacks. “The potential effect […]
HONG KONG, China (AFP) — Asian markets mostly headed into the weekend on a negative note Friday following a sell-off on Wall Street, United States jobs data coming in below par and a dive in oil prices fueling losses across the energy sector. Increasing expectations that central banks are about to start winding down their easy money policies are also weighing on buying sentiment and dragging on the dollar. With traders already nervous over North […]
