Press releases about business, cryptocurrency, fintech and more news in Hong Kong and Asia

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 […]

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 […]

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 […]

Emerging market central banks show strong appetite for gold in Q2: Report

SINGAPORE – Central bank demand for gold, particularly from emerging markets and developing economies, more than doubled in the second quarter of the year compared with the previous quarter, driven by growing fears of an impending global recession and changes in the international monetary system. According to data from a recently released World Gold Council […]