The ECB led policymakers increasing interest rates this week. Canada slowed its pace of rate hikes, while officials in Brazil, Japan and Hungary left their benchmark rates unchanged. Colombia’s central bank raised borrowing costs to a more than two-decade high.
The crypto universe used to be dominated by Bitcoin enthusiasts, but it has swelled as investors sought higher returns amid negative real interest rates.
Fabio Panetta has labelled the $1.8tn crypto sector a “Ponzi scheme” and has called for a regulatory clampdown to avoid a “lawless frenzy of risk-taking”.
The world will soon get the opportunity to see that side of Christine Lagarde, but for the moment, bond traders seem to have tagged her as a push-over.
The difficulties for emerging markets have entered a new phase. What were once clearly country-specific crises, well contained within their borders, are bleeding across the world.
To speed up rehabilitation of a reputation so badly tarnished, SA business will not only need to rapidly clean up its act, but be seen to be doing so.
The rand lost almost 1% of its value against the dollar on Monday amid an American long weekend that has seen traders move away from risky emerging market currencies.
The rand spiked to R13.07/$ on Wednesday as tapering comments from European Central Bank president Mario Draghi continued to hurt risk currencies.
Mercantile Bank is being sold by its parent company in Portugal, Caixa Geral de DepĂłsitos.
Amid mounting concern about Deutsche Bank AG’s ability to withstand pending legal penalties, about 10 hedge funds that do business with the German lender have moved to reduce their financial exposure.