Indonesia's economic contraction in 2020 was greater than the central bank had anticipated and the pace of the recovery was slower than expected, Bank Indonesia's (BI) governor told lawmakers on Tuesday.
The Australian and New Zealand dollars were trading higher against the greenback on Tuesday, as improved market sentiment and optimistic economic surveys pushed the risk-sensitive currencies to multi-week highs.
By Reuters Staff
(Adds details on credit plan, quote from central bank governor)
MEXICO CITY, Feb 8 (Reuters) - Mexico’s central bank will begin offering credit to banks that have trouble placing cash dollars, it said in a statement on Monday, in a move that may spell the end of the controversial new central bank law.
The new mechanism by the central bank is nominally aimed at helping banks repatriate U.S. dollars from migrants and tourists, though it may also act as a compromise for the central bank bill going through Congress.
The new bill approved by the Senate last year was met with strong resistance from the central bank, which warned the ruling National Regeneration Movement (MORENA) that it could force the Bank of Mexico to absorb the proceeds of organized crime.
Keeping Chinese property developers inside new regulatory boundaries could be challenging. Nearly all the country’s listed real estate companies are crossing at least one of Beijing's three leverage ratios, known as red lines, that are designed to curb wild growth, according.