The Bureau for Economic Research (BER) has been collecting inflation expectations survey data in South Africa since 2000, following the adoption of inflation targeting by the South African Reserve Bank. This survey has provided significant insights for policy-making, academic research, and private sector analysis. However, recent international trends emphasizing microdata in macroeconomics have prompted a reevaluation of the survey's demands and opportunities.
Banks and car dealers are reportedly engaging in practices that may infringe on consumer rights, according to a recent review. Customers are often encouraged to purchase additional services at inflated prices. Contracts are structured in such a way that rejecting these services or obtaining refunds becomes difficult, raising concerns about consumer protection.
Binance has announced that Binance Labs has invested in Lombard, the creator of LBTC, a security-focused Bitcoin liquid staked token. This token allows individual and institutional holders to earn yield on their Bitcoin while leveraging their assets in decentralized finance (DeFi).
The Delhi Police, aided by cryptocurrency exchange Binance, have dismantled a complex scam operated by a fraudulent entity known as “M/s Goldcoat Solar.” This operation resulted in multiple arrests and the seizure of over 100,000 USDT in digital assets.
The corporate lending sector saw continued growth in September, with the rate increasing to 2.0% from 1.9% in August. Companies across various sectors sought both working capital loans and funding for investment projects.
Annual price growth has slowed in 76 Russian regions over September, with the most significant decreases observed in the Sakhalin Region and the Chechen Republic.
U.S. Senator Sherrod Brown has reached out to FEMA Administrator Deanne Criswell seeking detailed information about the National Flood Insurance Program's (NFIP) funding and resource requirements.
On October 18, 2024, the Bank of Russia released two silver commemorative coins in celebration of the 300th anniversary of the Saint Petersburg Mint. These coins are part of the Historical Events series and come in denominations of 3 rubles and 200 rubles.
The value of imports for goods and services saw an increase in the third quarter of 2024. This rise is attributed mainly to heightened domestic demand and a stronger ruble throughout the quarter.
On October 14, 2024, the Bank of Russia's Board of Directors decided to extend conditions for risk-oriented incentive-based regulation. This extension applies to projects focused on technological sovereignty and structural economic adaptation (TS and SAE).
Christine Lagarde, President of the European Central Bank (ECB), and Vice-President Luis de Guindos addressed a press conference in Ljubljana on October 17, 2024. They announced the Governing Council's decision to lower the three key ECB interest rates by 25 basis points. The move aims to address inflation dynamics and strengthen monetary policy transmission.
The Bank of Russia has put forward a proposal to introduce a mandatory cooling-off period for consumer loans and microloans, aimed at countering loan fraud. The duration of this period will vary based on the loan amount. Loans up to ₽50,000 will not have a cooling-off period, while those between ₽50,000 and ₽200,000 will have a four-hour delay. For loans exceeding ₽200,000, the waiting time will be 48 hours. Mortgage and car loans (when funds are directly credited to car dealer accounts), as well as government-backed educational loans, are exempt from this requirement.
The Bank of Russia has released the results of its October 2024 monitoring of maximum interest rates on deposits in Russian rubles. The findings focus on the top ten credit institutions that attract the largest amount of household deposits. For the first ten days of October, the maximum interest rate recorded was 19.78%.
In the months of August and September, consumer activity remained high across various regions, as reported by the Bank of Russia. Tourist traffic saw an increase, along with a rise in car demand. However, there was a noted decrease in household demand for loans.
In October, economic activity experienced renewed growth following a period of slowdown over the previous four months. The Bank of Russia's Business Climate Index increased to 5.5 points from 4.6 points in September. Current output and demand estimates surpassed those of September. Companies maintained positive short-term expectations at levels consistent with the past two months.
In September, consumer prices saw an increase compared to August, after seasonal adjustments. The rise was particularly noticeable in outbound tourism and transportation services. Additionally, the indexation of prices for educational services exceeded typical levels. Various measures of underlying inflation also showed month-on-month growth.
Today, Patrick McHenry, Chairman of the House Financial Services Committee, sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg. In the letter, McHenry demanded that Gruenberg schedule a transcribed interview with the committee by 5:00 PM today. The request also extends to the FDIC's General Counsel and Director of Legislative Affairs for discussions on the agency’s indemnification process for private counsel.
Today, Patrick McHenry, Chairman of the House Financial Services Committee, requested an audit by the Government Accountability Office (GAO) of the Financial Crimes Enforcement Network’s (FinCEN) Beneficial Ownership Secure System (BOSS). The BOSS registry is designed to support national security efforts by helping law enforcement target individuals exploiting the U.S. financial system for illicit activities.
Most statistical data and surveys indicate a slowdown in economic growth, influenced by both demand and supply factors. A gradual decline is observed in lending; employers' demand for new jobs is decreasing, and households are showing an increased tendency to save.
The Reserve Bank of Australia (RBA) has initiated a review into Retail Payments Regulation, focusing on the costs merchants incur when accepting card payments and the surcharging framework. The RBA has released an Issues Paper and is inviting stakeholders to provide detailed feedback on the current regulatory framework, as well as suggest potential regulatory responses. This input will be vital in shaping future reforms aimed at ensuring a safe and efficient payments system.