Authorities in the United Arab Emirates are discussing changes to the country's banking law which would give the Gulf Arab state's central bank a role in determining monetary policy, the central bank governor told Reuters on Monday.
Saudi Arabia's central bank said it expected stable inflation in the second quarter of this year, with weak global commodity prices offsetting any upward pressure due to seasonal demand.
"Some commodity prices could see a
Net foreign assets at Saudi Arabia's central bank dropped 4.7 per cent from a year earlier in March to SR2.590 trillion ($690.6 billion), their lowest level since July 2013, central bank data showed on Wednesday.
The central b
Saudi Arabia, Kuwait and the United Arab Emirates deposited $6 billion with Egypt's central bank on Wednesday, the bank's governor said, a sign the Gulf powers remain committed to propping up the Egyptian economy.
Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the currency remained steady on the black market.
The central bank has kept the official exchange rate steady
Qatar remains fully committed to its currency peg to the US dollar and is not reviewing its currency policy, central bank governor Sheikh Abdullah bin Saud Al-Thani said on Wednesday.
"We are fully supporting the peg and will
Central bank deposits that Egypt's Gulf allies pledged at an investment summit will arrive in the country within days, the state news agency quoted central bank governor Hisham Ramez as saying on Monday.
Kuwait, Saudi Arabia a
India's central bank lowered its policy repo rate by 25 basis points to 7.5 per cent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy
Weakness in China's vast manufacturing sector, aggravated by high real borrowing costs and weak demand, appears to have driven the central bank to accelerate the pace of monetary easing to ward off deflation in the world's second-largest
Kuwait's central bank governor Mohammad Al-Hashel denied that he had conducted any illicit share trading, after a local newspaper reported the securities regulator had decided to refer him to prosecutors on suspicion of violating investment