Central bank

Algerian health official criticizes minister

Algeria - Rabia Khreis

Algerian Public Health Practitioner Association Elias Mrabet criticized the decision to refer the new draft health bill to the Algerian parliament without involving them in amending the gaps in the bill, which will cause a stir in the country. He criticized the sudden move by Algerian Health Minister Mokhtar Hizballawi, who ordered the lifting of the freeze on the billRead more

Bank of England seen hiking rate for first time in decade

London - Muslimchronicle

The Bank of England, battling Brexit-fuelled inflation rises, is set Thursday to lift its key interest rate for the first time since 2007, according to analysts. BoE policymakers are forecast to vote to increase the central bank's key interest rate to 0.50 percent from a record-low 0.25 percent after a regular gathering, mirroring policy tightening seen in the US andRead more

Bodiba says government failed

Algeria - Rabia Khreis

A leading figure in the independent trade union bloc Massoud Bodiba strongly criticized the decisions taken by the government of Ahmed Ouyahia, to face the financial crisis experienced by the country because of the collapse of oil prices in world markets. He rebuked the budget bill passed by the Algerian government to end the current financial crisis witnessed in theRead more

Black market Cuts 54% of humanitarian aid financial value

Aden - Muslimchronicle

Yemeni Ministry of Finance revealed that the international financial aid coming through humanitarian organizations to Yemen arrives in the American dollar but the amounts are not deposited in banking accounts until being exchanged in the black market, making them lose 54 percent of their value. Yemen's Deputy Minister of Finance Dr. Mansour al-Butani said during a phone call that noRead more

Average inflation in first nine months pegged at 1.65 per cent

Muscat - Muslimchronicle

Oman's average inflation for the first nine months of 2017 stood at 1.65 per cent, mainly driven by a substantial increase in tobacco prices and transport costs. However, the year-on-year inflation rate in September alone, calculated in terms of the consumer price index, stood slightly lower at 1.6 per cent, shows the latest monthly statistical bulletin released by the NationalRead more

US Fed to stand pat as inflation conundrum persists

Washington - Muslimchronicle

The moribund inflation seen in the world's largest economy over the last year is a "mystery," a "surprise" and a "concern" all at once, in the words of US central bank chief Janet Yellen. And the dilemma -- why price pressures have not picked up despite nearly a decade's worth of falling unemployment and growth -- will be squarely atRead more

Japan consumer prices rise for 9th straight month

Tokyo - Muslimchronicle

Japan’s core consumer prices marked a ninth straight month of annual gains in September but failed to accelerate from the previous month, underscoring the central bank’s huge task as it struggles to meet an ever-elusive 2 percent inflation target. Most of September’s scant inflation was driven by continued rises in energy costs, which were partly offset by falling cellphone billsRead more

ECB's Draghi says stimulus won't 'stop suddenly'

Frankfurt - Muslimchronicle

European Central Bank president Mario Draghi on Thursday said the bank would not bring its massive bond-buying scheme to an abrupt end, reassuring markets as it took a first step towards scaling back extraordinary stimulus. "The decision today is for an open-ended programme," Draghi told reporters after the ECB announced it would halve its bond purchases to 30 billion eurosRead more

Lebanese central bank says pound stable, adds to forex reserves

Beirut - Muslimchronicle

The Lebanese central bank has the foreign-currency reserves it needs to keep the pound stable against the US dollar at its pegged rate for the foreseeable future, the central bank governor said on Tuesday. Riad Salameh said in an interview that since June the central bank has been engaged in three financial operations intended to maintain high levels of dollarRead more

Canada central bank maintains key lending rate at 1%

Ottawa - Muslimchronicle

Canada's central bank maintained its key lending rate at one percent Wednesday, saying it weighed global uncertainties against a stronger economy pushing up inflation. The bank predicted inflation would rise to two percent in the second half of 2018, but also noted a strengthening Canadian dollar and "substantial uncertainty about geopolitical developments and fiscal and trade policies" in its decision.Read more