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Yeah, That?ll Solve Everything
2011-04-20 22:52:00 The one and only solution to the crushing national debt, as discovered by 72% of Americans... and why it won't work. Plus: Chinese credit agency, central bank, Treasury all dump on D.C.'s management of the dollar
Central bank uncovers remittance scam using credit cards
2009-02-04 02:40:00 Central bank uncovers remittance scam using credit cards By Maricel E. Burgonio, Manila Times The Bangko Sentral ng Pilipinas (BSP) has uncovered a modus operandi used in defrauding remittance agents in the Philippines of money transfers from abroad, prompting it to call on banks and remittance agents in the country to strengthen their policy on remittance tie-ups ...
Bonds Rise; Central Bank Raises Rates to Slow Inflation
2008-06-10 13:37:00 Bonds rose for a second day on speculation inflation will slow as the central bank increased interest rates to 14% today. Yields are near the highest since at least July 2006 after the Southeast Asian country posted inflation at the fastest in 16 years. The Vietnamese central bank today announced to increase the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Indonesian central bank may suffer 8.02 trillion rupiah deficit
2008-06-10 09:35:00 The Indonesian central bank may suffer this year a much bigger deficit than last year due to a costly interest payout to holders of its key certificates, local press said Tuesday. Bank Indonesia, the central bank, is expected to suffer a total deficit of 8.02 trillion rupiah (about 861 million U.S. dollars) by the end of 2008, as it has to pay the interest of its certificates. Last year, the bank suffered a deficit of 1.4 trillion rupiah (150 million dollars), reported major newspaper The Jakarta Post, citing central bank chief Boediono. The bank announced that foreign exchange reserves in the first quarter of this year stood at 59 billion dollars due to a rise in exports, but the figure fell to 57.46 billion in May.Indonesia News Blog: http://indosnesos.blogspot.com-
Viet Nam Keeps Benchmark Lending Rate at 12%, Central Bank Says
2008-06-03 04:41:00 Viet Nam will keep its benchmark interest rate at 12% this month after raising it in May, the Southeast Asian nation's central bank said. The discount rate will also remain at 11%, while the refinance rate will stay at 13%, the State Bank of Viet Nam said in a statement posted on its Web site late yesterday. ``Two... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Bonds Slump as Central Bank Says Won't Raise Rates
2008-06-02 13:51:00 Viet Nam's five-year government bonds slumped, pushing yields up by the most in more than a year, after the central bank said it had no plans to raise interest rates to curb inflation at more than 25%. Yields have risen almost 200 basis points since Fitch Ratings on May 29 cut the outlook on the nation's debt to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central Bank Says Dong Band `Is Unchanged'
2008-05-28 13:30:00 Viet Nam's central bank said the dong's daily trading band is unchanged at plus or minus 1%, according to Le Xuan Nghia, director of the banking development strategy department. ``The trading band today is still plus or minus 1%,'' Nghia said in a telephone interview today from Hanoi. The State Bank of Viet Nam... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central Bank of India (Rs 85.35): Sell
2008-05-26 22:03:00 We recommend a sell in Central Bank of India from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term downtrend from its 52-week-high of Rs 154 recorded in early January 2008. However, after ...8 Vote(s)
By: Market Buzz
Dong Falls as Vietnam's Central Bank Says It Weakened Currency
2008-05-26 11:52:00 Viet Nam's dong fell the most in nearly two weeks after the central bank said it weakened the currency to support exports. The dong fell 0.08% to 16,212 per dollar, the biggest decline since May 5, as of 10:30 a.m. in Hanoi, according to data compiled by Bloomberg. ``Foreign currency demand and supply are... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central bank urged to cut reserve requirements to boost stocks
2008-05-25 07:12:00 The State Bank of Viet Nam (SBV) should reduce reserve requirements for banks to help stabilize the stock market, the Viet Nam Association of Financial Investors said. Reserve requirements for commercial banks should be cut to 8% of deposits from 11% at present, the association said in a statement on its... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Boediono Pressed to Maintain Rates at Indonesia Central Bank
2008-05-22 02:29:00 In 1998, when Boediono was Indonesia's planning minister, he refused to let President B.J. Habibie spend $300 million to develop a commercial aircraft industry. As Bank Indonesia governor starting today, he'll have to resist political pressure against raising interest rates.The first task facing Boediono, who goes by one name, will be to fight inflation. Consumer prices will surge at an 11.2 percent pace by year-end from 9 percent in April, the government forecast yesterday, after announcing it will allow average fuel prices to increase 28.7 percent.With an election set for next year, President Susilo Bambang Yudhoyono plans to cushion the effect of higher energy costs by making payments to Indonesia's poorest families. To keep that spending and the fuel costs from translating into higher prices, Boediono, 65, may raise interest rates to 8.5 percent in the third quarter, the highest in a year, from 8.25 percent, according to a Bloomberg News survey of 13 economists."Any governor ...
Central Bank Official Proposes Measures to Support Stock Market
2008-05-15 07:30:00 Nguyen Dai Lai, deputy director of central bank?s Banking Development Strategy Department, have given some proposals to support the stock market in a context of an unstable financial market. First, the government should issue long-term bonds with maturity of ten years or more and interest rates fixed in every two... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Vietnam central bank offers lenders funds to support liquidity
2008-05-15 06:48:00 The State Bank of Viet Nam (SBV) will provide funds to ensure commercial banks maintain adequate liquidity as it tightens monetary policy, it said in a statement posted on its Web site late Tuesday. The central bank will help commercial banks obtain funds by mortgaging their securities with it and through credit... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Indonesian central bank cuts 2008 GDP growth forecast to 6.2 percent
2008-05-13 09:52:00 The Indonesian central bank on Tuesday cut its economic growth forecast for this year to 6.2 percent, the lower end of its initial target, due to a weaker global economy.Bank Indonesia was earlier looking at gross domestic product growing between 6.2 percent and 6.8 percent this year, compared to the 6.32 percent clip in 2007."Indonesia's economy is expected to continue to grow at a moderate pace this year although it is overshadowed by the slowing global economic growth and persistent increase in international commodity prices," Bank Indonesia said in its quarterly report.The government earlier cut its GDP growth forecast for this year to 6.4 percent from 6.8 percent, also citing the global slowdown as well as rising oil prices.Indonesia News Blog: http://indosnesos.blogspot.com-
Central bank urged to inject capital into commercial banks
2008-05-08 01:18:00 The deposit growth of the banking system in April was 1.2%, far lower than last month's 3.46% and 3.38% of the same period last year. The central bank has considered refinancing capital to some banks to assist their payment capacity. The slow growth of deposits in April in two financial centres of Hanoi and HCM City... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
CENTRAL BANK UNEXPECTEDLY HIKED RATES
2008-05-07 22:40:00 [image: Lehman Brothers] | Global Economics Asia Ex-Japan Comment *Rob Subbaraman* *May 6, 2008** * Indonesia: Central bank unexpectedly hiked rates · The central bank raised the official interest rate by 25bp to 8.25%. · With fuel price ...
Indonesian central bank hikes key rate by 25 bps
2008-05-06 12:32:00 The Indonesian central bank on Tuesday raised its key policy rate by 25 basis points to 8.25 percent to rein in soaring inflation.It was Bank Indonesia's first interest rate hike in more than two years, as the country deals with rising inflationary pressure amid soaring prices of global commodities like crude oil. The central bank last hiked the benchmark BI rate in December 2005 to its peak of 12.75 percent.The decision took into account the prospect of inflationary pressures in coming months and the volatility of global commodity prices, BI senior deputy governor Miranda Goeltom told a briefing."We will continue to monitor the situation going forward to see if inflationary pressures will persist and we will accordingly make adjustments to the BI rate," Goeltom said.Indonesia News Blog: http://indosnesos.blogspot.com-
Central bank keeps interest rate unchanged amid concerns about global slowd
2008-04-30 00:00:00 {mosgoogle right}TOKYO (AP) -- Japan's central bank decided Wednesday to keep a key interest rate unchanged amid lingering worries about a global slowdown.The Bank of Japan policy board meeting unanimously decided to the rate at 0.5 percent, the bank said in a statement.The decision was widely expected amid continued uncertainty over the U.S. economy and its impact on global markets.The market is now awaiting signs about the future direction of monetary policy ...
Central bank won?t change rates on inflation
2008-04-27 11:07:00 Viet Nam?s central bank will not change the benchmark interest rate because month-on-month increases in inflation show recent policy measures have been effective, according to Governor Nguyen Van Giau. Consumer prices in the Southeast Asian nation surged 21.4% this month from April 2007, the most since at least 1992,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central bank tells ACB to slow 2008 lending
2008-04-18 09:42:00 Viet Nam's central bank has told Asia Commercial Joint Stock Bank (ACB) to slow its lending after imposing 30% cap on credit growth for the sector this year in an effort to control inflation at a 12 year high. The Ho Chi Minh City-based ACB, Viet Nam's fifth-largest lender by assets, should adjust its business plan... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Indonesian Central Bank Governor Arrested Over Corruption Charges
2008-04-10 13:52:00 Indonesia's central bank governor was arrested Thursday in connection with an $11 million corruption case ? the latest in a string of scandals to hit the bank, an anti-graft body said.Burhanuddin Abdullah ? who has denied wrongdoing ? will be detained for 20 days while authorities complete their investigation into the misappropriation of bank funds, said Johan Budi, a spokesman for the Corruption Eradication Commission.But he said there was enough evidence to show that Bank Indonesia's outgoing chief and other officials transferred $11 million to several former members of parliament in 2004 to help pave the way for the passage of amendments to the central bank law.The bank has been the subject of several investigations since the 1997-98 financial crisis, when it lent billions of dollars in emergency funds to banks that later closed without paying their debts. It has struggled since then to shake off concerns about its integrity despite reforms.Abdullah was named a corruption suspe...
Indonesia's Parliament Approves Boediono as Central Bank Chief
2008-04-07 13:17:00 Indonesia's parliament approved top economic minister Boediono as the nation's 13th central bank chief, as Southeast Asia's largest economy grapples with accelerating inflation and slowing growth.Boediono, 65, will succeed Burhanuddin Abdullah, whose five-year term expires on May 17. Boediono, the coordinating minister for the economy, was endorsed as the next governor in a vote by legislators, lawmaker Tjahyo Kumolo told reporters in Jakarta today.Boediono, who earned his doctorate in economics from the University of Pennsylvania in 1979, will have to balance the risk of slowing growth with inflation at an 18-month high. As finance minister for three years to 2004, Boediono helped ease inflation by reducing money supply and the budget deficit. President Susilo Bambang Yudhoyono is betting Boediono can slow price gains before general elections next year.``You can't pressure him to cut rates for the sake of growth,'' said Fauzi Ichsan, chief economist at Standard Chartered Plc ...
Central bank battles inflation
2008-04-07 07:36:00 The central bank is flexible and pro-active in adopting anti-inflationary measures, the State Bank of Vietnam chief has said. SBV Governor Nguyen Van Giau said to combat inflation the bank was trying to squeeze excess liquidity and to ensure that year-on-year credit growth does not exceed 30 percent. ?The tools the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Indonesian Central Bank Retains Key Interest Rate
2008-04-03 10:26:00 The Indonesian central bank left its key interest rate unchanged on Thursday. The Bank Indonesia held its benchmark BI rate at 8% as inflation accelerated. The decision matched economists' expectations.Annual inflation in March increased to 8.2% on higher food prices. The Asian Development Bank said in its latest report on Wednesday that the Indonesian economy would grow 6% in 2008 and 6.2% in the next year.Indonesia News Blog: http://indosnesos.blogspot.com-
Revisiting Central Banking Role, Operations And Reach
2008-03-28 08:21:00 Why not allow Internet disintermediation in Central Banking operations? Many, including myself believe that the Internet has changed the world significantly. Few, including myself again believe that Internet and associated Information and Communication Technologies (ICTs) can even do more, in newer and newer areas too, to meaningfully solve many of the otherwise challenging problems of our ...
Vietnam Central Bank to Buy VND20 Tln in Dollars from Exporters
2008-03-27 12:08:00 The State Bank of Viet Nam (SBV), or the country's central bank, is considering spending VND20 trillion to purchase export-sourced U.S. dollars. It is aimed to help domestic exporters over come the current difficulties, which have emerged from soaring inflation. According to Deputy Minister of Industry and Trade... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central Bank Considering Buying Mortgages
2008-03-22 23:06:00 The U.S. Federal Reserve and the European Central Bank are open to the idea of using public money to bailout mortgage securities in order to help clean up the credit markets, according to the Financial Times. The Federal Reserve has already taken drastic steps in order to prevent more massive bank losses this year.
Putting Govt?s money under central bank?s management
2008-03-19 11:23:00 In his recent directive on measures to control inflation, the Prime Minister asked the Ministry of Finance to transfer the Treasury?s balance, now deposited at banks, to the State Bank of Vietnam for management. The Treasury?s bank balance, estimated at VND52,000bil, is now deposited at five state owned banks, and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Indonesia parliament rejects the proposed central bank governor
2008-03-18 13:00:00 Indonesia's lower house of parliament (DPR) on Tuesday endorsed a commission's decision to reject the central bank governor nominees proposed by the president, a lawmaker said. Commission IX, which is in charge of conducting a fit and proper test for the candidates, voted last week against Agus Martowardoyo and Raden Pardede, the candidates nominated by president Susilo Bambang Yudhoyono. "The House plenary session has endorsed the Commission IX's decision to reject the nominees," Dradjad Wibowo of National Mandate Party said. When the two candidates were nominated last month, analysts raised concern that Bank Indonesia, the central bank, might end up with an inexperienced governor because neither candidate had ever worked at the central bank or got involved in formulating monetary policies. Martowardoyo is currently the president of Indonesia's largest bank, PT Bank Mandiri, while Pardede is deputy chairman of state asset management company PT Perusahaan Pengelola Aset. Yu...
Jim Rogers predicting the failure of the United States central bank, warnin
2008-03-18 12:29:00 Folks, we are seeing something that many thought they'd never see. A worldwide financial crash led by the United States of America. And a currency crisis led by the US dollar.
By: Housing PANIC
Central bank gives banks until Monday to buy bills
2008-03-16 13:22:00 The central bank on Thursday ordered all commercial banks to finish buying up compulsory treasury bills by next Monday?s end, a move that raised concerns about the payment capacity of banks. On Monday, the State Bank will issue VND20.3 trillion (US$1.28 billion) in treasury bills with a maturation of 364 days and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Gambia central bank reports on performance of economy in 2007, 2008
2008-03-16 10:40:00 Source: APA Gambia central bank reports on performance of economy in 2007, 2008 APA-Banjul (The Gambia) The Central Bank of the Gambia on Friday, in a report cast against a background of a revised growth projection of 4.1 per cent for the global economy in 2008, reported on the Gambian economy?s performance both last ...
Viet Nam central bank may reduce deposit rates
2008-03-12 12:59:00 Viet Nam?s central bank may ask commercial lenders to reduce deposit rates to less than 12 percent, a local newspaper reported, citing Le Xuan Nghia, head of development strategy at the State Bank of Viet Nam. The central bank will try to stabilize deposit rates to help the government control inflation and companies... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Federal Reserve Chairman Ben S. Bernanke signaled the U.S. central bank is
2008-03-04 00:00:00 Federal Reserve Chairman Ben S. Bernanke signaled the U.S. central bank is prepared to lower interest rates again even amid signs of accelerating inflation. The Fed “will be carefully evaluating incoming information bearing on the economic outlook and will act in a timely manner as needed to support growth and to provide adequate insurance against ...
By: Blog economie
Banks mobbed on fears central bank will reduce savings rate cap
2008-03-01 11:29:00 Fears the central bank will lower the cap on the savings interest rate Thursday sparked a rush of customers trying to deposit their savings with commercial lenders. Long queues formed at banks Thursday after the state bank Wednesday imposed a 12 percent upper limit on annual savings interest rate offered by... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Central bank pressured to weaken euro
2008-02-28 19:35:00 Article is here. Ain’t it a bitch? Your currency tanks, things are bad (America). Your currency’s strong, others can’t afford your exports (EU zone). The only sensible policy is to get your stats up. Use ShadowTraders to increase your income, and you won’t have to worry about affording that tasty european cheese… “…The euro has surged to an ...
Currency in Barcelona
2008-02-25 03:47:00 Barcelona is a city in Spain. The currency Barcelona uses is the Euro. There are 7 Euro notes, in denominations of 500, 200, 100, 50, 10 and 5. There are 8 Euro coins in denominations of 2 and 1 Euros and 50, 20, 10, 5, 2 and 1 cents. The Peseta was converted to the ...
Indonesian central bank chief faces graft interrogation
2008-02-20 08:26:00 The Indonesian Corruption Eradication Commission began Wednesday to question Bank Indonesia Governor Burhanuddin Abdullah over alleged bribery of several lawmakers. The central bank chief arrived at the commission's compound here accompanied by his lawyer Muhammad Assegaf for his first questioning since he was named suspect on Jan. 25. "I come here at a summons by the commission and because I am a law-abiding citizen," Abdullah told journalists who were packing the commission since early of the day. Abdullah and two senior central bank officials were accused of disbursing 31.5 billion rupiah (about 3.4 million U.S. dollars) several years ago from the bank's foundation to several legislators, allegedly aimed at having a new central bank law passed. Earlier this month, he announced that he would not seek a reelection when his term ends in May.Indonesia News Blog: http://indosnesos.blogspot.com-
Central bank could raise statutory reserves
2008-02-19 05:51:00 The State Bank will very likely further increase commercial banks' reserve requirement levels to pull in raging inflation. A State Bank official said authorities were considering a further rise of 1-2% in the reserve requirement ratio. It would be the second hike in 2008, attempting to control runaway credit growth,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
SBY Proposes Martowardojo as Central Bank Chief
2008-02-16 08:30:00 Indonesia's president proposed Agus Martowardojo, the head of the country's biggest lender, as one of the two candidates to replace central bank Governor Burhanuddin Abdullah, whose term ends in May. President Susilo Bambang Yudhoyono late yesterday also named Raden Pardede, deputy head of Indonesia's bad-loan manager, as a second candidate, said Parliament Speaker Agung Laksono. Lawmakers will examine the candidates' profiles before choosing the next central bank chief. ``The critical issue for Indonesia going forward is'' accelerating inflation, said Ai Ling Ngiam, director of sovereign ratings at Fitch Ratings. Companies have tried to absorb rising prices ``but we don't think that retailers will continue to suppress margins and will pass on costs to consumers very soon.''Martowardojo, 52, president of PT Bank Mandiri, graduated with a degree in economics from the University of Indonesia in 1984, and has been running Mandiri since...
Mexican Currency Falls On U.S News
2008-02-16 07:39:00 The Mexican currency (peso) dropped on concerns that demand for Mexican exports will drop, the fall in the peso came after Federal Reserve Chairman Ben Bernanke announced a deteriorating U.S. economy. The fall in the Mexican currency wiped out early gains that were fueled by the expectation that the Mexican central bank will maintain its bencharmark ...
2 senior Indon central bank officials detained
2008-02-15 08:57:00 INDONESIA'S top anti-graft body has detained two senior central bank officials over their alleged involvement in misappropriating US$11 million (S$16 million) of Bank Indonesia (BI) funds, a report said. The Corruption Eradication Commission (KPK) nabbed BI's director for legal affairs Oey Hoey Tiong, and Rusli Simanjuntak, head of BI's Surabaya office, the Jakarta Post reported on Friday. 'They will stay in detention for 20 days' while the investigation continues, KPK deputy chairman Chandra M. Hamzah said. The anti-graft body also questioned Supreme Audit Agency head Anwar Nasution, the whistle-blower in the case, and two other witnesses, former BI deputy governor Iwan R. Prawiranata and lawmaker Hamka Yamdhu, the report said. BI governor Burhanuddin Abdullah, who was named a suspect by the commission last month, was expected to be questioned next week, it said. About a third of the misappropriated funds were allegedly transferred to more than 10...
Swedish Krona Soars
2008-02-14 05:03:00 The Riksbank recently raised interest rates to 4%, against expectations, sending the Swedish krona soaring higher. The Swedish central bank explained that it has raised the interest rate by 25 basis points to combat rising inflation, adding that there were risks linked to slower economic activity and financial market turbulence. The bank has kept its options open, ...
CENTRAL BANK EDUCATION LOAN
2008-02-07 00:00:00 Cent Vidyarthi Scheme Purpose: Aims at bringing Education within the reach of students and help them improve their ...
By: Indian Banks
Romania?s Central Bank Raises Interest Rate to 9%
2008-02-06 00:00:00 Romania’s central bank BNR raised its benchmark interest rate one point, the third consecutive increase, as inflation threatens to accelerate and the local currency weakens. The central bank increased its Monetary Policy Rate to 9 percent, the highest since 2005, from 8 percent, the bank said in an announcement today.
By: Blog economie
Fire engulfs Iraqi central bank, no casualties - police
2008-01-29 08:38:00 BAGHDAD (Reuters) - A large fire engulfed Iraq's central bank building in Baghdad early on Monday, but there were no reports of casualties and the cause of the blaze was unclear, police said. Police said the fire badly damaged the top four floors of the six-storey building, including the central bank governor's office. The blaze erupted just after midnight and took more than six hours to put out. One bank employee and witnesses said flames ripped through most of the building. "No one can tell you what happened because no one can enter. The fire spread through the whole building," the central bank employee said by telephone from the scene. Guards at the central bank prevented cameramen and photographers taking pictures of the building, which is surrounded by concrete blast walls in central Baghdad. It is not in the heavily protected Green Zone compound, where key government ministries are located. The central bank has had a low profile during the upheaval in Ira...
By: B4U India
Fire engulfs Iraqi central bank, no casualties-police
2008-01-29 07:44:00 BAGHDAD (Reuters) - A large fire engulfed Iraq's central bank building in Baghdad early on Monday, but there were no reports of casualties and the cause of the blaze was unclear, police said. One bank employee and witnesses said flames ripped through most of the building, which is several floors high. By mid-morning, fire-fighters had extinguished most of the blaze. "No one can tell you what happened because no one can enter. The fire spread through the whole building," the central bank employee said by telephone from the scene. It appeared the fire erupted before anyone had arrived for work. Dozens of fire engines fought the blaze, witnesses said. The building is surrounded by concrete blast walls in central Baghdad. It is not in the heavily protected Green Zone compound, where key government ministries are located. The central bank has had a low profile during the upheaval in Iraq since the U.S.-led invasion in 2003. It announced last week that annual inflat...
By: B4U India
BHEL, Tata Steel, Bharat Electronics, Central Bank, Dish TV, Dishman Pharma
2008-01-29 04:26:00 BHEL, Tata Steel, Bharat Electronics, Central Bank, Dish TV, Dishman Pharma, Jyoti Structures, Suzlon Energy, India Economy advertising [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
$50 bonus - Central Bank : checking account, unused checks; Exp. - unknown
2008-01-26 12:54:00 LINKTerms:Open A Personal Checking Account & Receive $25 deposit to your new checking account and up to $25 for your unused checksTo qualify for the $25 deposit offer you must: (1) establish a direct deposit to the account, or (2) set up an auto-debit to the account or (3) sign up and activate the Web-Bill Pay service within 60 days of account opening. The deposit will be made after 60 days if the account is maintained in good standing. To receive the buy back for your unused checks, the checks must be brought to the bank
By: iBankDesign
China central bank drains 29 bln yuan via paper sale
2008-01-24 04:56:00 BEIJING (XFN-ASIA) - The People's Bank of China (PBoC) said it drained 9 bln yuan from the banking system via the sale of three-year bank bills in open market operations today. The bank said in a statement on its website that the yield on the paper stood at 4.56 pct, unchanged from last week. A further 20 bln yuan worth of three-month central bank bills yielded 3.4071 pct, also unchanged from last week. The bank also drained 22 bln yuan out of the banking system via seven-day repos and 12 bln via 28-day repos. The central bank carries out regular open-market operations on Tuesdays and Thursdays. (1 usd = 7.3 yuan)
By: Free forex
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