On Friday, the central bank in Nepal hiked its benchmark policy rate from 7% to 8.5%. This is the rate it uses for making loans to commercial banks and the hike was aimed at controlling the inflation rate in the country that has hit highs in six years. Moreover, the central bank also issued a … Read more
On Tuesday, the Finance Minister of Britain, Nadhim Zahawi said that the financial regulators in the country would have to focus on promoting the global competitiveness of the financial sector. However, he added that a plan aimed at introducing more government oversight in the sector had been paused for now. Bill to be introduced The … Read more
US bank executives were optimistic about loan growth, as there was a rebound in borrowing demand from business and retail customers. However, they also warned that there could be a weakness in demand later in the year if consumer confidence suffers because of the worsening outlook of the economy. Loan growth One of the primary … Read more
On Friday, the Chilean peso finally got a boost, after falling to a record low, thanks to the action of the country’s central bank. Chile’s central bank announced that they were making an intervention in the foreign exchange market worth $25 billion. Peso’s troubles On Thursday night, the central bank released a statement that said … Read more
On Thursday, in a surprise move, the Philippine central bank hiked its interest rate by 75 basis points. As a matter of fact, the central bank also stated that it would keep the door open for further hikes as well, as it needs to support a declining peso and also get some control over the … Read more
The central bank of New Zealand delivered its sixth consecutive hike in the country’s interest rate on Wednesday. In fact, the bank also signaled that it was quite comfortable with the aggressive monetary policy tightening path that it has chosen in order to combat the runaway inflation in the country. Interest rate rises On Wednesday, … Read more
Market analysts and investors have warned that there could be another sharp sell-off in the global equities market because of the upcoming earnings season of companies. This is because profit forecasts appear to be a bit too upbeat, particularly in light of the rising risks of an economic recession. Bear market for world stocks In … Read more
This month, it is expected that the Bank of Canada will raise its overnight rate by about 75 basis points and another increase is expected in September by 50 basis points. This would be part of the central bank’s campaign to tighten its monetary policy enough that it will be able to restrain the economy. … Read more
On Tuesday, the Australian central bank hiked up its interest rates for the third month in a row and flagged more hikes ahead, as it is continuously struggling to tackle the rising inflation in the country, even if it means risking an economic downturn. The interest rate goes up The Reserve Bank of Australia (RBA) … Read more
According to the numbers, there were more G10 central banks that hiked up their interest rates in June as opposed to any other month in the last twenty years. In addition, it is likely that this policy tightening pace will not slow down in the second half of the year because inflation continues to touch … Read more