A survey of Norway’s central bank (CB) has showed sharp decline in business activities and investment. Norwegian companies have sharply cut their investment plans because of the coronavirus outbreak and a subsequent decline in the price of crude oil, the country’s main export, a central bank business survey showed on Tuesday.
Effective 12th July, 2020, the Central Bank of the UAE, CBUAE, will introduce a new deposit facility named Overnight Deposit Facility (ODF), which will enable conventional banks operating in the UAE to deposit their surplus liquidity at CBUAE on an overnight basis.
The UAE banking system concluded the year 2019 in a resilient position with adequate capital and liquidity buffers well above regulatory requirements. The banking system remained profitable
Australia’s central bank (CB) held its cash rate at an all-time low on Tuesday, in a widely expected decision, and said it will help buttress the economic recovery by maintaining its accommodative approach as long as the support is required.
The Central Bank of Sri Lanka monetary board reduced its lending rate by 100 basis points to 5.5 percent. The deposit rate was cut by the same amount to 4.5 percent.
Sweden’s central bank (CB) ended five years of negative interest rates when it raised benchmark borrowing costs by a quarter point to zero, defying an economic slowdown and global uncertainty.
A rising number of central banks (CBs) are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements (BIS) showed, as interest in the technology heats up.
The Russian central bank lowered its key interest rate to 6.00% on Friday, cutting the cost of lending for the sixth consecutive meeting amid slowing inflation, and said a further rate cut was possible at an upcoming meeting.
The Board of Directors of the Central Bank of the UAE (CBUAE) held their fifth meeting this year via Video Conference recently.
The UAE was one of the fastest nations in setting and implementing precautionary measures to curb the spread of the novel Coronavirus (COVID-19) and address the challenges it brought about, most notably to the economy, asserted Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA) and Vice President of the Belt and Road Initiative (BRI) Tax Administration Cooperation Forum.