Markets & Industries
IMF: Financial markets instability adds uncertainty for global economy - 04/12/2023
According to a research by the International Monetary Fund (IMF), financial market instability and a number of contradictory indications have exacerbated uncertainty regarding the future of the global economy. "Given the recent increase in financial market volatility and multiple divergent indicators, the fog around the prospects for the global economy has thickened," the organization stated in a...
IMF Chief: Global economic recovery remains weak - 04/11/2023
The IMF chief evaluated the world economy's revival. According to Kristalina Georgieva, managing director of the International Monetary Fund (IMF), the global economic recovery is still sluggish even in the face of high inflation and issues in the financial sector. She remarked in a Monday joint session with World Bank President David Malpass: "We are very hopeful for a strong (global economic)...
Bloomberg: US bank lending down by $105bn - 04/10/2023
Following closing of several of the country's largest lending institutions, bank lending in the US has decreased by $105 billion over the last two weeks, according to Bloomberg. The Federal Reserve reports that it is the greatest fall since 1973. Bloomberg reports that the decline over the past week was $45 billion. The agency claims that this is mostly because small banks have cut back on their...
Ukraine's international reserves hit 11-year high of $31.9B - 04/07/2023
According to documents from the National Bank of Ukraine, the country's international reserves as of April 1, 2023, totaled $31.9 billion, setting a record for the previous 11 years. The reserves climbed by 10% in March alone due to a decline in the regulator's net currency sales, mild debt repayments, and money inflows from foreign partners. The National Bank of Ukraine now has $5,1 billion on...
German services sector shows record growth - 04/06/2023
As a result of increased demand, Germany's services sector expanded in March at its quickest rate since last May, as shown in data from S&P Global. The services purchasing managers' index (PMI) increased from 50.9 in February to 53.7 in March. A reading of the index above 50 denotes a rise in activity from the previous month. According to Paul Smith, deputy economic director at S&P Global,...
IMF calls for regulation of financial sector’s non-banking segment - 04/05/2023
The International Monetary Fund stated in a study released Tuesday by staff economists that more attention needs to be given to regulating the non-banking segment of the financial sector in order to protect stability as it now makes up half of the assets in the global financial system. The study is released a week prior to the semi-annual IMF and World Bank meeting in Washington, which will bring...
IMF approves $5.4 billion tranche to Argentina - 04/03/2023
An additional infusion of $5.4 billion for Argentina has been authorized by the International Monetary Fund (IMF). "The Fourth Review of the Extended Fund Facility (EFF) Agreement for Argentina has been concluded," reported the IMF Executive Board. The resolution of the board permits an immediate disbursement of $5.4 billion ($4 billion in SDRs), bringing the overall amount disbursed...
Bank of Canada: We will support bank industry if necessary - 03/30/2023
The Bank of Canada stated on Wednesday that it is ready to help if the financial system experiences extreme strain, but added that it would only provide emergency liquidity in the direst circumstances while attempting to reduce subjective risk. The Bank of Canada's quantitative tightening program will be finished by the first half of 2025, according to Deputy Governor Toni Gravelle, who made the...
U.S. Consumer Confidence Index rises in March - 03/29/2023
The Conference Board analysis company stated that the U.S. consumer confidence index increased to 104.2 points in March from a revised 103.4 points in February. At that, the indicator was expected to fall from its initial value of 102.9 points a month earlier to 101 points, according to analysts surveyed by DailyFX. The index of economic expectations increased from a revised February level of...
UK Chief Secretary to the Treasury Glenn: Britain's banking system is resilient amid crisis - 03/29/2023
John Glenn, Chief Secretary to the Treasury, referred to the British financial system as resilient in light of the Credit Suisse crisis and Silicon Valley Bank's failure. On March 10, U.S. California regulators shut down Silicon Valley Bank, one of the top 20 U.S. institutions. It was the largest insolvency instance in the US since the 2008 financial crisis. The biggest bank in Switzerland,...
