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Central Banker Report Cards 2024: Asia-Pacific

Global Finance

The political turmoil fuelled a spike in inflation, which hit 11.66% in July amid fast-dwindling foreign exchange reserves. Mansur announced plans to hike the benchmark rate by 50 basis points to 9%, and stated that rates would hit 10% within the coming months. Benchmark rates are expected to remain unchanged at 3%.

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World’s Best Banks 2024—Asia-Pacific

Global Finance

Assets and deposits both hit record growth—each up by 19%—and all of the bank’s product offerings, including consumer loans, agriculture lending and microfinance, hit new benchmark highs. Its trading and foreign exchange departments scored a 45.5% gain, booking 3.6 billion pesos (about $62.4 million) in trading profits.

Banking 52
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Central Banker Report Cards 2024: Africa And The Middle East

Global Finance

The CBB cut its one-week deposit rate to 5.75% in September after the Fed reduced its benchmark rate, and the overnight deposit rate to 5.5%. In June, it left the benchmark policy rate unchanged at 5% for the fifth time in a row, forecasting that inflation across the region will dip to a still high 3.9% in the first quarter.