Category: central
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Hong Kong’s central bank follows the Fed, cuts base rate by 50bp to 5.25%
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You will notice that the HKCB prime rate is slightly higher than the federal funds rate. The Hong Kong dollar is traded within a range pegged to the US dollar set by the Hong Kong Monetary Authority. You can see the boundaries of the range in the chart below. The…
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Central European floods leave trail of devastation; new areas to evacuate By Reuters
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Written by Kuba Steziecki, Janis Laizan and Radovan Stoklasa WROCLAW, Poland/OSTRAVA, Czech Republic (Reuters) – Volunteers and emergency workers raced to secure river banks in Poland’s historic city of Wroclaw on Tuesday as nearby municipalities advised residents to evacuate their homes and authorities across central Europe counted the cost of…
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Central bank digital currency momentum growing, study shows By Reuters
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By Mark Jones LONDON (Reuters) – A total of 134 countries representing 98% of the global economy are now considering digital versions of their currencies, with nearly half at an advanced stage and pioneers such as China, the Bahamas and Nigeria seeing a resurgence in use. Research by the US-based…
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Missile fired from Yemen set off sirens in central Israel, military says By Reuters
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JERUSALEM (Reuters) – A surface-to-surface rocket fired at central Israel from Yemen landed in an unpopulated area without causing casualties, the Israeli military said on Sunday. Moments earlier, air raid sirens sounded in Tel Aviv and central Israel, sending residents running for cover. “Following the sirens that sounded a short…
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China’s central bank didn’t buy any gold in August
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Gold monthly China’s central bank did not announce any gold purchases in August, saying reserves remained at 72.80 million troy ounces. Announced purchases stopped in May after several months of accumulation. Reports later suggested that the People’s Bank of China had become price sensitive. In February, the People’s Bank of…
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Major Russian lenders say yuan coffers empty, urge central bank action By Reuters
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Written by Elena Fabrichnaya MOSCOW (Reuters) – Russia’s top banks have called on the central bank to take action to address a liquidity shortage in the yuan that has sent the rouble to its lowest level since April against the Chinese currency and pushed yuan swap rates into the single…
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Major Russian lenders say yuan coffers empty, urge central bank action By Reuters
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Written by Elena Fabrichnaya MOSCOW (Reuters) – Russia’s top banks have called on the central bank to take action to address a liquidity shortage in the yuan that has sent the rouble to its lowest level since April against the Chinese currency and pushed yuan swap rates into the single…
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Chile’s central bank has cut its benchmark rate to 5.5%, from 5.75%
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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UBS sees GBP/CHF range-bound amid central bank moves By Investing.com
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UBS’s latest comments on the currency pair point to a range trading outlook in the near term, with its analysis highlighting the contrasting monetary policies of the Swiss National Bank and the Bank of England. The bank noted that the Swiss National Bank is nearing the end of its interest…
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UBS sees GBP/CHF range-bound amid central bank moves By Investing.com
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UBS’s latest comments on the currency pair point to a range trading outlook in the near term, with its analysis highlighting the contrasting monetary policies of the Swiss National Bank and the Bank of England. The bank noted that the Swiss National Bank is nearing the end of its interest…
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Expert explains why central banks are cutting rates By Investing.com
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In the current economic climate, central banks around the world are considering or are already cutting interest rates. This decision is not without controversy, with some critics arguing that such moves may be ineffective in preventing recession or even exacerbate economic problems. However, as economists at TS Lombard have argued,…
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Norwegian And Swiss Central Banks Invest Heavily In MicroStrategy
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In a surprise move, the central banks of Norway and Switzerland have emerged as significant shareholders in MicroStrategy, a Virginia-based business intelligence firm. The development has sparked speculation about the underlying motivations behind these major financial institutions’ investments, with several analysts suggesting it could be an indirect play on the…
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Norwegian And Swiss Central Banks Invest Heavily In MicroStrategy
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In a surprise move, the central banks of Norway and Switzerland have emerged as significant shareholders in MicroStrategy, a Virginia-based business intelligence firm. The development has sparked speculation about the underlying motivations behind these major financial institutions’ investments, with several analysts suggesting it could be an indirect play on the…
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Bangladesh chief justice, central bank chief quit amid protests, officials say By Reuters
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DHAKA (Reuters) – Bangladesh’s chief justice and central bank governor have resigned, officials said on Saturday, as student protests that forced Prime Minister Sheikh Hasina to flee widen to target more officials appointed under her rule. A justice ministry official, speaking on condition of anonymity, said Supreme Court Chief Justice…
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Ethiopia’s birr drops 30% as central bank floats currency By Reuters
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Written by Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia’s central bank decided to float the country’s birr currency on Monday, a move the government hopes will secure International Monetary Fund support and make progress on a long-delayed debt restructuring. The Commercial Bank of Ethiopia, the country’s largest lender, said the…
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European markets mixed ahead of key central bank meetings (EUR:USD)
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Yuji Sakai London (UKX) +0.64% Germany (DAX:IND) +0.32% France (CAC:IND) -0.18% Sweden’s economy shrank by 0.8% quarter-on-quarter in the three months to June. The Finnish consumer confidence index rose to -7.2 in July. Manufacturing confidence in Finland rose to -12 in July. European Stoxx 600 Index (STOXX)) It increased by…
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Startup Nation Central warns on cybersecurity overdependence
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Startup Nation Central’s H1 2024 report found that while Israeli M&A reached $4.1 billion, the highest number since 2018 and up 70% from H2 2023, the number of actual deals was low, reflecting large acquisitions of cybersecurity companies. In nine deals, Israeli cybersecurity companies were acquired for $1.5 billion, accounting…
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China’s Communist Party central committee adopts resolution on further deepening reforms
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Adoption of a resolution on further deepening comprehensive reform Reform should be placed in a more prominent position consciously. The reform tasks set out in this resolution must be completed by 2029. Necessary measures will be implemented to prevent and mitigate risks in key areas such as real estate, local…
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Like EM central banks, DM banks will need to keep rates higher for longer – BlackRock
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Vertigo 3D Some emerging market central banks have paused interest rate cuts due to inflation concerns, and policymakers in developed markets may also find themselves forced to stick with higher interest rates for longer, the BlackRock Investment Institute said. Brazil, Mexico and Poland are among the Emerging markets are the…