Indonesia raises key rate more than expected as rupiah weakens

JAKARTA – Indonesia’s central bank delivered a bigger-than-expected interest rate hike to stem inflation and stabilise the rupiah, marking an aggressive turn for policy makers who were monetary policy outliers until last month. Bank Indonesia raised the seven-day reverse repurchase rate by 50 basis points, the biggest increment since 2018, to 4.25 per cent on […]

Dah Sing Bank and Friends of the Earth (HK) Jointly Present Retail and E-Commerce ESG Forum for SMEs

HONG KONG, Sep 21, 2022 – (ACN Newswire via SEAPRWire.com) – The second industry forum (the “Forum”) under the SME ESG Best Practices Recognition Programme (“the Programme”) took place today under the joint auspices of Dah Sing Bank, Limited (“Dah Sing Bank”) and Friends of the Earth (HK) (“FoE HK”). It gathered business and industry […]

Australia’s central bank has equity wiped out by billions in bond losses

SYDNEY – Australia’s central bank on Wednesday said its equity had been wiped out by losses suffered on pandemic-era bond buying, but its ability to create money meant it was not insolvent and would continue as normal. Reserve Bank of Australia (RBA) deputy governor Michele Bullock said the bank had taken a mark-to-market valuation loss on […]

askST: What is a digital bank and how do their offerings differentiate them from traditional ones?

SINGAPORE – Two new digital banks have just opened for business here amid heightened competition among local and foreign lenders and fintech service providers despite slowing economic growth. Policymakers still see more room for new digital bank entrants following the arrival of GXS Bank and Trust Bank this week. The Straits Times explains why.

Wall Street tells clients Singapore dollar is top trade in Asia

SINGAPORE – Singapore’s dollar is emerging as the top bet for Wall Street’s biggest banks as wagers that the central bank will extend policy tightening bolsters demand for South-east Asia’s top-performing currency. Goldman Sachs Group favours the Singdollar the most among Asian currencies, along with Thailand’s baht. Citigroup recommends buying the currency on dips, while […]