Central Asia is the core region of the Asiancontinent and stretches from the Caspian Sea in the west to China in the east and from Afghanistan in the south to Russia in the north. It is also sometimes referred to as Middle Asia, and, colloquially, "the 'stans" (as the six countries generally considered to be within the region all have names ending with the Persian suffix "-stan", meaning "land of") and is within the scope of the wider Eurasian continent.
Various definitions of Central Asia's exact composition exist, and not one definition is universally accepted. Despite this uncertainty in defining borders, the region does have some important overall characteristics. For one, Central Asia has historically been closely tied to its nomadic peoples and the Silk Road. As a result, it has acted as a crossroads for the movement of people, goods, and ideas between Europe, Western Asia, South Asia, and East Asia.
The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists.
... bank’s 2-4% target band ... That contrasts with a markedly more benign policy outlook in SoutheastAsia, where most central banks have only recently commenced a very cautious shift away from extremely low interest rates, with tightening expected to be more gradual than in the West.
That contrasts with a markedly more benign policy outlook in SoutheastAsia, where most central banks have only recently commenced a very cautious shift away from extremely low interest rates, with tightening expected to be more gradual than in the West.
economy, helping lift the mood on Wall Street overnight, sentiment in equity markets remains fragile after weeks of volatile trade as more global central banks continue on the path of tightening ...Seoul’s Kospi was 0.25% higher after the central bank rate announcement came in line with expectations.
... in Asia. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.6%, taking losses for the month to 5% ... Elsewhere in Asia, South Korea’s central bank raised interest rates for a second consecutive meeting as it grapples with consumer inflation at 13-year highs.
Asia stocks rose on Wednesday even as central banks piled into aggressive rate hikes to battle soaring inflation and left investors worried about slower global growth ... Meanwhile the kiwi hit a three-week high of $0.65 after the New Zealand central bank raised rates by an aggressive 50 basis points and signalled more to come.
(MENAFN - AsiaTimes) China's central bank and a top financial regulator are urging local banks to extend more loans to companies in a bid to resuscitate the economy from recent Covid-19 lockdowns ... .
U.S stock market futures bounced sharply in early Asia trade and pulled the risk-sensitive Australian and New Zealand dollars along for the ride ...Sterling leapt nearly 2% last week on the back of stronger-than-expected retail data and markets' broader re-think on whether global central banks are really lagging much behind the Federal Reserve.
Biden also announced that 13 countries had joined a new, US-led Asia-Pacific trade framework, although there are questions about the pact's effectiveness. Investors will be looking to Wednesday's release of notes from the latest Federal Reserve committee meeting for clues on further rate hikes by the US central bank.
The central bank, has for this fiscal, projected Q1 inflation at 6.3 per cent, Q2 at 5.8 per cent, Q3 (5.4 per cent) and Q4 (5.1 per cent) ... The domestic demand recovery and inflationary impulses mean that central banks in Asia will have to accelerate their policy normalisation process.
Markets rose in Asia overnight after the Chinese central bank delivered a surprise interest rate cut ... In Asia, the Shanghai Composite Index rose 1.2% to 3,134.21 after the Chinese central bank reduced its rate on a five-year loan, which would shore up weak housing sales by cutting mortgage costs.
In Asia, the Shanghai Composite Index rose 1.2% to 3,134.21 after the Chinese central bank reduced its rate on a five-year loan, which would shore up weak housing sales by cutting mortgage costs ... It was the first time since 2008 that inflation was above the central bank’s 2% target.