Category: Bank
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What’s priced in for the Bank of Canada
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The Bank of Canada began its interest rate cutting cycle this month and the question now is: How quickly can the cuts continue? Governor Tiff Macklem said they make their decisions one meeting at a time and that it is reasonable to expect further interest rate cuts if inflation continues…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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Reserve Bank of Australia meet Monday & Tuesday, likely cash rate hold @ 4.35%, 12 yr high
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The Reserve Bank of Australia meets today and tomorrow, Monday 17 June 2024 and Tuesday 18 June 2024. The bank’s decision is scheduled to be issued at 2.30pm Sydney time on Tuesday This is 0430 GMT and 0030 EST RBA Governor Bullock will hold her press conference an hour later,…
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Indonesia central bank intervenes to defend faltering rupiah By Reuters
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JAKARTA (Reuters) – Indonesia’s central bank has intervened in the foreign exchange market to defend the rupiah, the Indonesian central bank governor said on Friday, pledging to use monetary policy to stabilize the currency after it fell. to its lowest levels in four years against the dollar. The rupee fell…
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Brazil’s Largest Bank Itaú Opens Bitcoin and Crypto Trading to All Users
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Itaú Unibanco, the largest bank in Brazil and Latin America, has opened Bitcoin and cryptocurrency trading, According to reports. The bank’s investment app, Ion, now allows users to buy and sell Bitcoin and Ethereum after initially offering cryptocurrency trading to only select customers in December 2023. In an interview, Guto…
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Brazil’s Largest Bank Itaú Opens Bitcoin and Crypto Trading to All Users
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Itaú Unibanco, the largest bank in Brazil and Latin America, has opened Bitcoin and cryptocurrency trading, According to reports. The bank’s investment app, Ion, now allows users to buy and sell Bitcoin and Ethereum after initially offering cryptocurrency trading to only select customers in December 2023. In an interview, Guto…
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Inflation seen rising above Bank of Israel target range
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Israel’s Consumer Price Index (CPI) for May will be published tomorrow and the outlook is not optimistic. Analysts agree that the consumer price index rose by 0.5%-0.6% in May, bringing the inflation rate over the past 12 months to 3.1%-3.2%. This will be the first time this year that inflation…
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Broadcom is the next stock that could enter the trillion-dollar club, according to Bank of America
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Reuters Bank of America said Broadcom could be the next stock to reach a $1 trillion market cap. The chip maker’s stock is rising after its quarterly profits exceeded estimates. Bank of America said strong sales, debt paydowns and profitable acquisitions should maintain the company’s momentum. Chip maker Broadcom It…
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The Bank of Canada is behind the curve and the loonie will suffer
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In the coming weeks, we will see a picture of deteriorating data and it will be clear that the Bank of Canada is falling behind the curve. The overnight interest rate of 4.75% is still very restrictive in an over-leveraged economy. It’s clear from Bank of Canada Governor Tiff Macklem’s…
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Revolut Moves HQ to Heart of London’s Financial District amid Big Bank Departures
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Payments in Africa: A Cross-Border and Device Revolution | Fmas:24 Payments in Africa: A Cross-Border and Device Revolution | Fmas:24 Payments in Africa: A Cross-Border and Device Revolution | Fmas:24 Payments in Africa: A Cross-Border and Device Revolution | Fmas:24 Payments in Africa: A Cross-Border and Device Revolution | Fmas:24…
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Alexander Hamilton’s bank is getting a new name: BNY By Reuters
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Written by Lanan Nguyen NEW YORK (Reuters) – America’s oldest bank is getting a new name. Bank of New York Mellon (NYSE:) is adopting BNY as its new moniker, it announced Tuesday. The company also unveiled signs in large letters bearing the three-letter name at its head offices. Since its…
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Canadian Western Bank stock downgreaded by BMO post-acquisition deal By Investing.com
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On Wednesday, BMO Capital revised its position on… Western Canadian Bank (TSX::CN) (OTC: CBWBF), downgraded the stock from outperform to market perform, while simultaneously raising its price target to C$52.00 from C$35.00. This review follows the announcement on Tuesday that Canadian Western Bank has entered into an agreement to be…
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Discount Bank in talks to buy out Shufersal’s PayBox stake
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A decade after its founding, and three years after supermarket chain Shufersal became a partner, payments app company PayBox, headed by Arik Frishman, could become wholly owned by Israel’s Discount Bank. The bank, which owns 50.1% of PayBox, is in advanced negotiations with Shufersal to purchase its 49.9% stake for…
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Kenya to use World Bank loan to clear Sh65bn Eurobond
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Kenya will use part of the recently obtained Sh156.8 billion loan from the World Bank to clear the outstanding balance of Sh65.3 billion ($500 million) from its first Eurobond maturing on June 24. The final sovereign bond payment for 2014 is expected to allay investor fears that contracted foreign exchange…
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ECB’s Holzmann says further rate cuts by the Bank could slam EUR and spike inflation
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Robert Holzmann is the Governor of the Austrian Central Bank and a member of the Governing Council of the European Central Bank, described by many critics as the A1 hawk at the table. Holzmann spoke in a radio interview on Saturday with public broadcaster ORF (Österreichischer Rundfunk, “Austrian Radio”). He…
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Futu Buys into Airstar Bank, Now Holds 44.1% Indirect Stake
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Futu Holdings Limited, an online brokerage and wealth management platform, has announced the completion of a HK$440 million investment in Gravitation Fintech HK Limited. Gravitation Fintech is the parent company of Airstar Bank, a virtual bank licensed in Hong Kong. Following this investment, Foto now has an indirect stake of…
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With the Bank of Canada, ECB and jobs in the rear view mirror, the Fed is ahead
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This week, the Bank of Canada and the European Central Bank cut interest rates by 25 basis points each. For each, the initial cut was by the central bank. The Bank of Canada announced its interest rate decision on Wednesday. The central bank has reduced what is seen as restrictive…
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Shelter Afrique eyes capital boost as a development bank
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African housing financier Shelter Africa is looking for institutional investors to bolster its capital position after rebranding as a development bank last year, which allowed it to gain an additional class of investors. A review of the bank’s articles of association by its shareholders to upgrade it to a development…