International

Central Banks of China and UAE Sign MoU to Strengthen Digital Currency Cooperation

The Central Banks of China and the United Arab Emirates (UAE) have recently signed memoranda of understanding (MoUs) relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing last week.

International

War with Hamas Will Cost Israel ~NIS 27B, Bank Hapoalim Projects

The cost of the war between Israel and the Hamas is estimated to be at least NIS 27 billion ($6.8 billion) as of now, according to initial projections by Bank Hapoalim.

International

Wall Street Rethinks Turkish Rate Path as Inflation Heads to 70%

Wall Street banks are again having to rewrite their outlooks for Turkish interest rates, as inflation climbs faster than expected.

International

Philippine Central Bank Expects Economic Growth to Miss Target

The Philippine central bank expects this year’s GDP growth to miss the government’s goal as economic activity moderates while it’s bringing inflation back to target.

International

Thailand’s 2023 Inflation Forecast to Be 1-2%, the Lowest in ASEAN

Thailand’s inflation rate is the lowest among the seven ASEAN countries which have already announced their rates

International

Foreigners are Net Sellers of Japanese Bonds for Third Straight Week

Foreign investors were net sellers of Japanese bonds last week, as local bond prices fell after the Bank of Japan tweaked its bond yield curve control scheme to allow interest rates to rise more freely in line with increasing inflation.

International

G20 environment meeting ends without agreement on climate crisis

Environment ministers from G20 nations have failed to agree on ways to curb emissions and other crucial measures to address the global climate crisis ahead of the UN climate change conference at the end of the year.

International

Indonesian Banks Keep Top Slots in Market Cap Ranking on Solid Economic Recovery

Indonesia's GDP expanded by 5.03% in the first quarter of 2023, Reuters reported in May, citing data from Statistics Indonesia.

International

BIS Admits Further Monetary Measures Look Unlikely to Cope with Global Inflation

According to FT, the Bank for International Settlement has said,.global governments should either raise taxes or cut public spending to help central banks tame inflation and mitigate the risk of a financial crisis.

International

Finnish Central Bank Says New Coalition Program Breaches Laws

According to Bloomberg, Finland’s incoming government program violates national and European legislation by threatening central bank independence, the Bank of Finland said in a letter to the designated prime minister.

International

RBI Warily Eyes Monsoon Impact on Inflation With Policy Hold

The Reserve Bank of India left its key interest rate unchanged for a second meeting and retained its tightening stance, signaling rate-setters want to see inflation moderating further while weaker monsoon risks remain a concern.

International

Tesla CEO Left Beijing after His Mysterious, Reportedly Gygafactory-Related, Trip

Tesla Inc (TSLA) CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang last week in Beijing.

International

What India's Decision to Scrap its 2000-Rupee Note Means for its Economy

India will withdraw its highest denomination currency note from circulation, the central bank said on Friday.

International

China’s Gold Splurge Reaches Sixth Month as Reserves Rise Again

Central banks across the world continued to buy gold in the first quarter, adding 228.4 tons to global reserves, up 176% YoY, data from the World Gold Council (WGC) showed on Friday.