Weekly Market Recap (22-26 April) ...Middle East

MondayThe PBoC left the LPR rates unchanged as expected:1-year LPR 3.45%.5-year LPR 3.95%.The SNB raised the minimum Reserve Requirement Ratio (RRR) from 2.5% to 4.0% with the change going into effect from 1 July 2024:"Liabilities arising from cancellable customer deposits (excluding tied pension provision) will in future be included in full in the calculation of the minimum reserve requirement, as is the case with the other relevant liabilities. This revokes the previous exception whereby only 20% of these liabilities counted towards the calculation."That is a change to the National Bank Ordinance. On the move, the SNB says that "the adjustments will ensure that implementation of monetary p

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Weekly Market Recap (22-26 April) ...Middle East

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