Thai PM’s advisor Sethaput named central bank chief, faces economy in crisis

BANGKOK (Reuters) – Thailand picked on Wednesday an economic advisor to the prime minister and a former World Bank economist to be its next central bank governor, in a move seen by analysts as unlikely to herald any major shake-up of monetary policy.

‘$500 for everyone’: Belarus leader’s Soviet-style economy wears thin for some voters

Lukashenko said he expected the economy to grow by 3-4% in coming years. He said his statist model should deliver that if production and exports are ramped up and Belarus starts to manufacture $4 billion of goods it currently imports annually.

UK businesses grow at fastest pace in five years in July after COVID slump

LONDON (Reuters) – British businesses in the services and manufacturing sectors grew at the fastest rate in more than five years last month as they began to recover from the effect of the COVID-19 lockdown, a survey showed on Wednesday.

Banks are racing to catch digitisation trend: expert

The development of internet banking, mobile banking, payment solutions using QR codes, near-field communication technology (NFC), and advances in biometric technology using fingerprints and iris scanning has enabled banks to offer new and convenient products and services to customers, helping them achieve sustainable growth thanks to an increase in revenues from services and gradually reduction […]

Local banks are racing to catch digitisation trend: expert

With many people looking for new options to deal with their financial affairs, digitisation of services and e-payments are becoming crucial, and banks, seizing the trend, have been embarking on the use of technology 4.0 and modernising their business models.

Norway house prices up 5% year-on-year, fastest growth in three years

While Norges Bank has said it aims to keep rates on hold until the second half of 2022, a sustained rally in housing prices could trigger an earlier tightening, Nordea Markets wrote in a note to clients.

Thai central bank keeps key rate at record low on signs of gradual recovery

BANGKOK (Reuters) – Thailand’s central bank left its key interest rate unchanged at a record low for a second straight meeting on Wednesday, as the economy is showing signs of improvement with the easing of restrictions to halt the spread of the coronavirus outbreak.

Thai central bank seen holding key rate at record low to preserve ammunition: Reuters poll

“There are fixes needed with previous measures that have been rolled out, such as the drawdown in soft loans,” said Kobsidthi Silpachai, head of capital market research at Kasikornbank. “It is the distribution of low rates that need to be addressed”.

Russia’s VTB bank raises retail lending forecast amid record low rates

The central bank cut its benchmark interest rate to a record low of 4.25% in July. With inflation seen rising towards the bank’s 4% target from 3.2% in the coming months, deposit rates have become less lucrative and the cost of borrowing has come down.

As dollar slides, some investors fret about its status as world’s reserve currency

The main challenger, the euro, has struggled in the face of existential crises and years of subpar growth in the euro zone. Indeed, during the throes of the coronavirus panic in March, the dollar’s dominance was on full display, with investors and governments scrambling for the greenback as they looked for a haven against extreme […]