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The Rs. 2,000 note is being phased out of circulation but will remain valid currency until September 30.
A circular from the Reserve Bank of India dated May 19 announced the withdrawal of Rs 2,000 currency notes from circulation. The memo said that the notes will remain valid tender until September 30. According to the document, the RBI's "Clean Note Policy" necessitates the change. Th...
First Q1 current account deficit in 11 years in South Korea
The Bank of Korea released data on Wednesday showing that the first three months of 2023 saw a deficit in South Korea's current account balance for the first time in 11 years due to weak exports. A record-high loss of $4.21 billion in January followed by $520 million in February contributed t...
Ueda, head of the Bank of Japan, promises to keep rates low for the time being but hints at a possible rate hike in the future.
Kazuo Ueda, governor of the Bank of Japan, emphasized on Tuesday the need of maintaining a low interest rate environment for the time being but left open the possibility of a rate hike if inflation and wage growth exceeded expectations. Ueda told lawmakers that "monetary easing, now conducte...
Haruhiko Kuroda becomes less dovish as he leaves the Bank of Japan after a decade of enormous stimulus.
Haruhiko Kuroda adopted a slightly less dovish stance in his farewell speech as the head of Japan's central bank on Friday, concluding a decade of unconventional policy that included a "bazooka" of stimulus aimed at boosting inflation and sustainable growth.
Kuroda, upon h...
The failure of Silicon Valley Bank has shaken up the tech industry's upstarts.
The collapse of Silicon Valley Bank caused widespread panic in the technology sector, which had provided the bulk of the bank's revenue, and left many business owners in a state of debt relief debt relief gratitude to the government. The collapse of Silicon Valley Bank sent shockwaves through...
Kuroda, the BOJ's "bazooka" leader, is leaving down after a record term.
Haruhiko Kuroda, governor of the Bank of Japan, is stepping down after a 10-year stint marked by his famous "bazooka" of loose money policies aimed at revitalizing the country's dormant economy. Since his appointment, the central bank's assets have doubled, exceeding GDP for the...
Since the BoJ did not alter the yield range, Japanese stocks have risen by over 2%.
Even though the Bank of Japan did not alter its yield curve control strategy, shares across Asia-Pacific moved mainly higher on Wednesday. The Nikkei 225 in Japan was the best performing Asian index, rising 2.5% to end at 26,791.12. The final closing price of the Topix was 1,934.93, an increase o...
There was no indication that the Bank of Japan would take a more hawkish stance at its January meeting.
Bank of Japan stated that existing yield curve control must be maintained because of the expectation that it will take some time to achieve the 2% inflation stability target. According to Jeff Ng of MUFG, recent salary agreements will certainly sustain inflation at its elevated historical levels....
Since the Bank of Japan's December shock on the tech boost, the Nikkei has jumped to make up for its losses.
Nikkei share average reached its highest level in over a month on Tuesday, making up for all of its losses since the Bank of Japan's unexpected policy change the previous month. The gains were led by technology stocks, which followed Wall Street's momentum. The Nikkei finished at 27,299.1...
The Bank of Japan kept the yield curve's range unchanged, which led to a decline in the value of the yen.
After the Bank of Japan shocked markets by maintaining its yield curve tolerance zone at its previous level, the yen fell in value relative to the dollar. After the decision was revealed, the value of the yen dropped by as much as 2.7% versus the dollar, reaching a low of 130.35. This was the yen...
As bond yields approach the ceiling once more, the Bank of Japan may announce a significant policy adjustment this week.
With government bond rates increasing and the yen strengthening, the Bank of Japan is scheduled to hold a meeting this week, and some economists are predicting that it may abandon its yield curve management policy. The Bank of Japan surprised markets by increasing its tolerance range for 10-year ...
According to the RBI, SBI, ICICI Bank, and HDFC Bank continue to be domestic systemically important institutions.
The State Bank of India, ICICI Bank, and HDFC Bank are still considered to be Domestic Systemically Important Banks, according to a statement from the Reserve Bank of India on Monday (D-SIBs). The central bank had first released a framework for handling D-SIBs in July 2014, which obliged it to re...
The Bank of Japan continues its easing program despite the strengthening yen.
Even as the yen has been under pressure from the U.S. Federal Reserve's aggressive tightening and other central banks, the Bank of Japan maintained its ultra-loose monetary policies on Friday.
The yen's collapse to 32-year lows against the dollar as a result of the disparity in ...
Why is the Bank of Japan taking this stance on interest rates?
The Bank of Japan has maintained its position despite interest rate increases by the Federal Reserve and other central banks across the world in an effort to reduce inflation.
Japan's benchmark interest rate has been negative 0.1% since 2016. The third-largest economy in the world h...
Powell, the Fed's chairman, discovers inflation to be a more obstinate foe than expected.
The central bank chief is balancing between managing inflation and precipitating a recession.
Whiplash, to say the least.
The Federal Reserve raised interest rates for the fourth time in a row on Wednesday, coupled with a statement that Wall Street read as a signal that it mig...
Blinken Warns Israeli Prime Minister and Palestinian President of West Bank Intensification
US Secretary of State Antony Blinken called with Palestinian President Mahmoud Abbas on Friday, according to the official WAFA news agency, in a first contact after Israel's senior leader Benjamin Netanyahu led a far-right alliance to a general election win.
According to the WAFA re...
Retail CBDC pilot to be started by Bank of Thailand
The retail Central Bank Digital Currency (CBDC) pilot programme, slated to run from late 2022 to mid-2023, has officially begun, according to the Bank of Thailand.
The study, which will concentrate on the growth of retail CBDC and its potential effects across the banking sector, will ma...
Global Custodian Bank Market by Type, Services, Banking Type, End User, Service Providers and Region
The growth of the custodian bank market is impacted by various factors. Need for specialised services by several hedge funds, insurance companies and asset management companie...
Krungsri invests THB3 bn abroad
As a part of ongoing popular uprising in digital banking, the financial technology arm of Krungsri (Bank of Ayudhya), which would be known as Krungsri, announced on Friday that it would invest 3 billion baht in Thai and international start-ups over the course of the next three years.
Th...
Russian Oligarch's US bank Account Seized
Federal prosecutors in New York announced their intention to confiscate more than $5,300,000 from an American bank account linked to the sanctioned Russian billionaire Konstantin Malofeyev. The United States has placed a series of sanctions on Malofeyev in retaliation for Russia's invasion of...