By Reuters Staff
1 Min Read
OSLO, May 6 (Reuters) - Norway’s central bank kept its key policy interest rate on hold at a record-low 0.0% on Thursday, as expected, and said it remained on track for a hike later this year.
Norges Bank has said it plans to raise rates in the third or fourth quarter of 2021, likely making it the first among G10 central banks to increase the cost of borrowing after the outbreak of the COVID-19 pandemic. (Reporting by Terje Solsvik and Victoria Klesty; editing by Gwladys Fouche)
Mexico's central bank on Thursday kept its key interest rate steady at 4.0%, as expected, in a unanimous decision by its five-member board, saying that a highly uncertain environment poses major challenges for monetary policy. (Reporting by Frank Jack Daniel and Anthony.
The Philippine central bank left its key interest rate steady at a record low on Wednesday, as policymakers focus on supporting an economy which is showing signs of recovering after shrinking last year and in the first quarter of 2021.
By Reuters Staff
1 Min Read
OSLO, Jan 21 (Reuters) - Norway’s central bank kept its key policy interest rate on hold at a record-low zero percent on Thursday, as expected, and said the economy was developing largely as anticipated.
Norges Bank has said it plans to hike rates early next year as the economy recovers from the coronavirus pandemic, potentially making it the first among G10 central banks to raise the cost of borrowing. (Reporting by Victoria Klesty and Terje Solsvik, editing by Gwladys Fouche)
By Reuters Staff
1 Min Read
JAKARTA, Jan 21 (Reuters) - Indonesia’s central bank kept key interest rates unchanged at a record low on Thursday, as expected, holding fire after providing a bout of monetary stimulus last year to support the coronavirus-hit economy.
Bank Indonesia (BI) left the 7-day reverse repurchase rate at 3.75%, the lowest since the central bank began using it as its benchmark in 2016. A majority of analysts in a Reuters poll had expected rates to remain steady.
BI also kept its overnight deposit facility and lending facility rates at 3.00% and 4.50%, respectively.
Last year, BI slashed interest rates five times totalling 125 basis points, pumped some $50 billion worth of liquidity into the financial system and relaxed lending rules to help Southeast Asia’s largest economy weather the COVID-19 pandemic. The central bank last cut rates in November. (Reporting by Gayatri Suroyo, Fransiska Nangoy and Tabita Diela; Editing by Ana Nicolaci da Costa)