Central bank

The secret is out

Bank governors have an obligation to talk openly and honestly and to issue warning whenever they see any kind of major danger lying ahead.

Comments made earlier this week by former finance minister and Bank of Greece Governor Yannis Stournaras clearly fulfilled this obligation.

Mandatory reserves rate reduced by one percent

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) decided on Thursday to reduce the rate of mandatory bank foreign exchange reserves from 28 to 27 percent for funding sources with the maturity date of up to two years, and to cut the rate from 21 to 20 percent for bank funding sources with the maturity date of over two years.

NBS keeps key policy rate at eight percent

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) decided Thursday to keep its key policy rate at the present level of eight percent, the central bank said in a release.

In making the decision, the Executive Board was guided by the fact that y-o-y inflation is still moving below the lower bound of the target tolerance band, the NBS said.

I’m going slightly mad

Being one of the few Turkish economy pessimists sometimes makes me question my knowledge of economics. Luckily, the International Monetary Fund (IMF)’s annual report on Turkey arrived just in time to confirm my economic sanity- as I found many of the recurrent themes from my columns in the report.

Budget Committee Gives Bulgaria Gov't Green Light for New Borrowing

The Budget and Finance Committee at Bulgaria's Parliament has given the government a mandate to start talks over a fresh foreign borrowing of up to BGN 3 B.

The remaining BGN 1.5 B, out of BGN 4.5 B that the cabinet will additionally need for a planned budget update, are to be raised by issuing government securities on the domestic market.

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