Bloomberg Indonesia’s central bank cut its benchmark interest rate to a record low and downgraded its growth outlook amid fears that a resurgence in Covid-19 cases is slowing economy’s recovery. Bank Indonesia slashed the seven-day reverse repurchase rate by 25 basis points to 3.5%, the lowest level since the rate was introduced in 2016. The move was expected by 22 …

Bloomberg Deutsche Bank AG scaled back plans for its bonus pool after the European Central Bank (ECB) objected to proposed payout levels, highlighting the challenges of rewarding top performers while heeding demands for restraint during the global pandemic. Germany’s largest lender had initially planned to pay out more than 2 billion euros ($2.4 billion) for staff performance in 2020, but that …

Bloomberg Sudan’s central bank said on Sunday it was implementing a unified exchange rate system, part of broader measures aimed at reviving its struggling economy. The central bank instructed banks and exchange bureaus to adopt the new system with immediate effect, according to a statement on its website. The move aims to curb volatility in the exchange rate at a …