Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam emails!
Advertise Your Business Here
  • LendingUP! Turning Loans Around
  • IFINTEC Finance Technologies Conference and Exhibition, 21-22 April 2020
  • Advertise With Us!
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Financial and Banking News

Bank of Russia cuts discount rate - a historic low for Russia

The Bank of Russia slashed its discount rate by another 0.25 percent from April 30. Starting tomorrow, the rate will be 8 percent per annum – a historic low for Russia.

This marks the third decrease in the discount rate this year, down from 8.75 percent. Yet, for the first time in the last year and a half the regulator hinted that all these reductions would soon come to an end, and a gradual toughening of the monetary policy was already in sight.

The Bank of Russia acknowledged that inflation could gain momentum in the second half of 2010 as a result of the low base effect. As the regulator indicated in a press release, if annual inflation continues to decline in the short term, the factor could call for more careful consideration regarding further discount rate moves.

After carefully looking over the document, analysts have come to the conclusion that the Central Bank is about to put an end to a year-long cycle of discount rate cuts. Some experts say that if the economy continues to recover and shows clearer signs of a revival in credit activity, there will be no more cuts.

Bank of Moscow expert Yekaterina Gorbunova believes that the new rate cut by the Central Bank may substantially improve investor sentiment. “Since uncertainty as to whether the Bank of Russia would or would not cut the rates again this month had persisted up until today, the ruble bond market may respond to the rate action with a rally,” she said.

According to the expert, the period of the soft monetary policy is nearly over, so the move to cut the rates will have limited influence on the market. “Today’s action may prompt some investors to keep securities in their portfolios over the May holidays, but it is unlikely to prevent foreign investors from cutting their positions in ruble-denominated assets against the backdrop of instability in the European Union,” Gorbunova opined.

Source: RBC
Date: 04.05.2010 [246]

Financial and Banking News
 Banks may need political help to survive Big Tech

First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the "real game changer." 09.12.2019 | Source: Bloomberg

 Trump blasts Bitcoin, Libra, demands they face banking regulations

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." 11.07.2019 | Source: Reuters

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: MEGA

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events

 📰 News Archive

2019 © Global Bank Directory | Rus