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Gold kicked off the new year better than it has in a long time. The precious metal is benefitting from extraordinary trends. Demand for gold was stronger last year than it has been in more than a decade, the World Gold Council (WGC) said in its report on…
The Hong Kong Monetary Authority is exploring the feasibility of issuing a digital currency for the city, joining central banking efforts worldwide to create electronic money. A paper exploring the feasibility of issuing a retail-focused central bank digital…
The latest draft rules proposed by the People’s Bank of China signals even more regulatory tightening against the mainland fintech sector including the potential to even break up non-bank institutions deemed to hinder payment development. The People’s Bank of…
Thailand hopes to match the rapidly rising global standards in digital banking but Bank of Thailand’s governor notes that it will take more than just the efforts of the central bank. Veerathai Santiprabhob said the central bank will look to launch electronic…
The State Bank of Vietnam (SBV) announced Monday it has lowered the interest rates on compulsory reserves at banks by 0.4 percentage points. The new compulsory reserve interest rate has been reduced to 0.8 percent per annum for dong deposits, down from 1.2…
India’s central bank unexpectedly lowered interest rates and, as anticipated, shifted its stance to “neutral” from “calibrated tightening” to boost a slowing economy after a sharp fall in the inflation rate. The monetary policy committee (MPC) of the Reserve…
Indonesia’s December annual inflation rate eased, but the pace was quicker than expected, data from the Central Statistics Agency, or BPS, showed on Wednesday. The annual inflation rate in December was 3.13 percent, the agency said, lower than November’s 3.23…
The State Bank of Viet Nam (SBV) has cut several interest rates for the first time since 2014 in order to support business and boost economic growth. According to the central bank’s statement, 0.25 percentage points have been shaved off the annual refinancing…
According to the National Finance Supervision Committee, the deficit is likely to be 3.5% of exports. The trade deficit with China rose from US$3.7 billion in 2013 to US$28 billion last year. The US Federal Reserve (FED) is expected to increase the interest…
Indonesia’s central bank, which kept its benchmark reference rate unchanged for nearly all of 2015, is expected to make its second cut this year on Thursday as it tries to bolster the country’s sluggish growth. South-East Asia’s largest economy grew 4.8% in…
Bank Indonesia (BI), Indonesias central bank, had estimated the economy to grow by 4.8 percent in 2015, slightly higher than the Finance Ministrys forecast of 4.74 percent. “The central bank had estimated a 4.8 percent growth throughout 2015,” BIs Deputy…
Supplies of shallots and chili, staple ingredients in Indonesian meals, are often low during the rainy season, propping up the prices index, said Sasmito Hadi Wibowo, the deputy of goods and services distribution at the Central Statistics Agency (BPS). Beef…
The Central Bank of Myanmar plans to initiate a second round of foreign bank licencing in early 2016, the monetary authority said. The aim is to licence banks from “additional neighbouring and important trading partner economies”, quoted the central bank as…
“Instead of going into the property market, (capital flows) could go out and ease the property market, and that could strike consumers’ confidence and I think the economy next year may not perform so well”, said Paul Tang, chief economist at Bank of East Asia…
