Bloomberg Bank of the Philippine Islands has started its own probe into fund transfers made using a Westpac Banking Corp service blamed for Australia’s worst-ever money laundering breach. The Ayala Corp-owned bank started investigating transactions made through LitePay, a low-cost fund transfer system Westpac launched in 2016, after violations came to light in late November, BPI spokesman Owen Cammayo said. …

Bloomberg Uganda’s central bank held its benchmark rate at 9% saying subdued inflation provides room to shield the economy from global headwinds and increasing domestic needs for private-sector financing. The monetary policy stance remains accommodative and supportive, Governor Emmanuel Tumusiime-Mutebile told reporters in the capital, Kampala. The central bank cut the key rate for the first time in more than …

Bloomberg The National Bank of Kazakhstan kept interest rates on hold at a second consecutive meeting, but warned that inflation may pick up in the first quarter of next year. The base rate stayed unchanged at 9.25%, the National Bank of Kazakhstan said in a statement. The decision was forecast by six economists polled by Bloomberg. Inflation may accelerate to …