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Both the European Central Bank and the Bank of England kept key interest rates steady Thursday in the face of soaring oil prices that have pushed inflation higher, and a surging euro.
KIPCO Asset Management Company (“KAMCO”) has announced the launch of a specialised Shariah compliant money market fund, Al Jazi Money Market Fund.
The European Central Bank fears inflation could swell in the 13-nation eurozone, which benefits at present from sound economic fundamentals and strong growth in employment, it said Thursday.
The European Central Bank said Thursday it is tracking price hikes to ensure they do not damage the 13-nation eurozone economy, which now benefits from sound fundamentals and strong job growth.
Europe's single currency is climbing quickly against the dollar and could seriously curb growth, forcing the European Central Bank to come up with a response, economists say.
The Danish government said it wants to hold a new referendum on whether to adopt the single European currency, in its new government programme presented Thursday.
European Central Bank president Jean-Claude Trichet said Friday he did not welcome "brutal" exchange rate movements, a few hours after the euro hit another record high against the dollar.
Western Union, the leading provider of global money transfer services, lent a much-needed helping hand to Bangladesh
The European Central Bank is expected to leave interest rates on hold at 4.0 percent Thursday, taking a cautious line in face of the twin risks of rising inflation and slower growth, analysts say.
The Bank of England said Thursday it had trimmed its key interest rate by a quarter-point to 5.50 percent and warned of slowing British economic growth due to turmoil on world financial markets.
The European Central Bank (ECB) left its key interest rate on hold at 4.0 percent Thursday, treading a cautious line in face of the twin risks of rising inflation and slower growth, analysts said.