PETALING JAYA: Bank Negara has no immediate plan to issue a central bank digital currency (CBDC) either in the form of wholesale or retail. Bank Negara governor Tan Sri Nor Shamsiah Mohd Yunus said currently, Malaysia’s domestic payment system has remained efficient to support the needs of the economy and allow real-time digital payments. “Also, our current monetary and … [Read more...] about No plan to issue central bank digital currency
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Philippine central bank raises interest rates to curb inflation
MANILA, May 19, 2022 (AFP): The Philippine central bank raised interest rates Thursday for the first time in more than three years, in a bid to curb inflation as rising fuel prices and food shortages push up living costs. Robust economic growth and jobs in the first quarter gave the monetary authority room to continue "rolling back its pandemic-induced interventions", said … [Read more...] about Philippine central bank raises interest rates to curb inflation
Thailand has no need to follow Fed’s tightening, says central bank chief
BANGKOK, May 19 (Reuters): Thailand has no need to raise interest rates following the Federal Reserve's hikes in US rates as domestic factors and the economic recovery will be the main issues determining policy, the central bank chief said on Thursday. The country's external position remains strong with low foreign debt and high international reserves, Bank of Thailand … [Read more...] about Thailand has no need to follow Fed’s tightening, says central bank chief
Vietnam banks raise interest rates amid inflation
HANOI (Xinhua): Many banks in Vietnam have increased deposit interest rates by 0.1 to 0.6 percentage points amid the growing demand for funds and inflationary pressure, local media reported on Wednesday (May 18). The rates have increased sharply since the beginning of this month, with the peak at 6.5 per cent to 7.4 per cent, the daily newspaper Vietnam News reported. … [Read more...] about Vietnam banks raise interest rates amid inflation
Philippine central bank ‘to start tightening cycle’
BENGALURU: The Philippine central bank will kick-off its tightening cycle tomorrow, much earlier than previously thought, joining peers around the world in a race to tighten monetary policy to tackle rising inflation, a Reuters poll found. With economic growth in the South-East Asian nation at its fastest in nearly a decade and inflation at a more than three-year high, the … [Read more...] about Philippine central bank ‘to start tightening cycle’