The National Bank of Kazakhstan has responded to the criticism of several members of the Kazakh Parliament, who claimed the Single Pension Fund was practicing risky investments that put the pensioneers' savings in danger.
Kazakhstan MP of Ak Zhol faction voiced their serious concern over the investments the Single Pension Fund was practicing. In their opinion, these activities may lead to destabilization of the entire lending sector of Kazakhstan.
India's central bank will keep interest rates on hold as it awaits more proof that stubborn high inflation is headed downward in Asia's third-largest economy.
Hungary's parliament adopted a law compelling banks to pay compensation to borrowers hit by past interest rate hikes on loans deemed unfair by authorities.
Kazakhstan National Bank has introduced a new ban prohibiting Kazakh banks from keeping over 30% of their funds abroad, but offered them tenge rate stability and cheap funding at the same time.
The United States and Europe targeted Russia's key financial, arms and energy sectors Tuesday with tough new sanctions in response to Moscow's intervention in the Ukraine crisis.
Bank of Cyprus, the island's largest lender, has completed a one billion euro ($1.34 billion) capital increase in a private placement to help it restructure following a haircut on deposits last year.
The Bank of Japan on Tuesday held off expanding its vast stimulus programme, saying the world's number three economy was recovering despite activity taking a hit from April's sales tax hike.
