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Bank al-Maghrib (Morocco) Holds Rate at 3.25%

September 21, 2011 by CentralBankNews   Comments (0)

The Bank al-Maghrib of Morocco held its main policy rate unchanged at 3.25%.  The Bank said: "Nationally, despite the slowdown in the global economic activity, domestic demand continued to hold up well.... In this context where the central inflation forecast is permanently consistent with the price stability objective and the balance of risks is tilted to the downside, the Board decided to keep the key rate unchanged at 3.25 percent."  The Bank also said: "In view of the sustained liquidity shortage on the money market and considering the outlook for liquidity factors, Bank Al-Maghrib will carry out longer term repo transactions, as part of its operations to regulate the money market."

Previously the Bank also held interest rates unchanged in June this year; it last changed its interest rate in March 2009 when it reduced the rate 25bps to 3.25%.  The Bank said in its statement that it is forecasting inflation of 1.3% in 2011 (previous forecast 1.4%), and that it expects bank lending to grow by 8% for 2011 (compared to 6.8% growth in April), and total GDP growth is forecast at 4.5-5.5% this year.  Morocco reported annual inflation of 2.2% in August, compared to 1.8% in July and 0.7% in June.  The Moroccan Dirham (MAD) has gained around 2% against the US dollar this year, while the USDMAD exchange rate last traded around 8.22

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The Eurekahedge Report - September 2011

September 21, 2011 by Eurekahedge   Comments (0)

Hedge funds posted an average return of -2.13% in August, outperforming global equity markets by 5.57% as managers focused on capital preservation strategies. The MSCI World Index tumbled 7.70% off the back of a downgrade of US Treasuries, which also sent the S&P Goldman Sachs Commodity Index down by 1.85% for the month. Managers lost US$3.2 billion of assets through performance, but capital flows from investors continued to be very robust as August marked the ninth consecutive month of positive flows; an increase of US$1.51 billion. Overall hedge fund assets under management remained above the US$1.8 trillion mark, the highest level since September 2008.


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Leading Fund Manager Royal London Asset Management Selects F3 Excel Edition for Enterprise-Wide Derivative Valuations

September 20, 2011 by FINCAD   Comments (0)

[09/21/2011] FINCAD today announced that Royal London Asset Management, one of the UK's leading fund management companies, selected F3 Excel Edition to calculate daily derivatives valuations and risk for over £40 billion of investment, pension fund, and other assets under management.

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Digital identities, big data and rogue traders

September 20, 2011 by skinnercm   Comments (0)

The #innotribe group is now in full swing, moving between presentations and workshops, dialogues and debates, agreements and arguments, confusion and clarity …


Banks wasting billions on inefficient clearing

September 20, 2011 by skinnercm   Comments (0)

So the morning continues with the innotribe team discussing digital identities, with contributions from a wide range of folks, including: