The Bank of Canada has announced that it will begin releasing its Monetary Policy Report (MPR) in an interactive, web-based format starting October 23, 2024. This quarterly report, produced by the Bank’s Governing Council, provides a base-case projection for inflation and growth within the Canadian economy, alongside projections for the global economy and an assessment of associated risks.
In the third quarter of 2024, the growth of incoming payments processed through the Bank of Russia averaged 0.4%, a significant decrease from the 7.4% recorded in the second quarter. In September alone, there was a slight decline of 0.2% compared to the average for Q2.
On September 11th, 2024, the UK government introduced the Property (Digital Assets etc) Bill in Parliament. The Ministry of Justice noted that the bill aims to "ensure Britain maintains its pole position in the emerging global crypto race by being one of the first countries to recognise these assets in law."
The Reserve Bank Board has released its review of the Term Funding Facility, as announced today by the Bank. This review is part of a broader examination of monetary policies adopted in response to the pandemic. The objective is to maintain transparency and openness about the experiences and lessons learned.
Nominal and real interest rates have increased across most financial market segments, according to a recent update. Despite the rise in rates, inflation expectations among households and businesses have decreased but remain historically high.
Today, U.S. Senator Sherrod Brown of Ohio expressed his condolences to the family of former Senator Tim Johnson following his passing. Johnson, who represented South Dakota, served as Chair of the Senate Banking, Housing and Urban Affairs Committee during part of Brown's tenure on the committee from 2007 to 2015.
The Bank of Russia has released a paper discussing the future of remote identification for financial institutions' customers. As digitalization progresses in the financial sector, there is an increasing demand for remote service channels. The central bank aims to explore further development areas, implement new mechanisms and technological solutions, and address potential risks with mitigation strategies.
The Bank of Russia has outlined its priorities for the Financial Inclusion Programme for 2025-2027. The main objectives are to enhance public financial health and increase the value and utility of financial products. These goals aim to be achieved through the introduction of product governance principles in the financial market.
In September, the MOEX Russia Index saw an increase of 7.8%, marking its first rise since May. The stock market was influenced by news related to dividends from certain companies.
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have finalized the Over-the-Counter (OTC) derivatives reporting requirements, as announced on September 26.
The Coin Week event in Russia, running from October 7 to October 20, 2024, offers a convenient opportunity for individuals to exchange coins for banknotes. This year, the initiative expands beyond banks to include chain stores as locations where people can deposit coins into their bank accounts.
On October 7, 2024, the Bank of Russia introduced a new gold investment coin titled 'Saint George the Victorious' with a denomination of 100 rubles. This coin, catalogued as No. 5217-0048, weighs 15.55 grams and boasts a fineness of 999/1,000. It is circular with a diameter of 30 mm.
The South African Reserve Bank (SARB) has taken action against HSBC Bank Plc's Johannesburg Branch due to non-compliance with the Financial Intelligence Centre Act 38 of 2001. This decision follows an inspection conducted in 2021.
The South African Reserve Bank (SARB) has taken action against Bidvest Bank Limited due to non-compliance with the Financial Intelligence Centre Act 38 of 2001. This decision follows an inspection carried out in 2022.
The Interbank Currency Council, comprising the Central Bank of the Russian Federation and the National Bank of the Republic of Belarus, convened for its 60th meeting in Yaroslavl. The gathering was attended by Elvira Nabiullina, Governor of the Bank of Russia, and Pavel Kallaur, Chairman of the Board of the National Bank of Belarus.
The Bank of Russia has released the results of its September 2024 monitoring of maximum interest rates on deposits in Russian rubles. The data pertains to the top ten credit institutions attracting the largest amount of household deposits.
Abigail Dean, Global Head of Strategic Insights for Nuveen Real Assets said that demand for real assets is increasingly driven by megatrends like urbanization and energy needs. With inflation stabilizing and interest rates holding steady, she sees this as an opportune moment for investors to reenter the market, as corporate prices may be at a low point while natural capital shows continued value gains.
The Bank of Canada's Board of Directors has commenced a recruitment process to appoint an additional external Deputy Governor. The Board has established a selection committee and engaged the services of recruitment firm Boyden to facilitate this search. Advertisements for the position have been posted online.
Private credit is rapidly transforming the financial landscape as high interest rates and regulatory changes create new opportunities for investors. Zach Lewy, CEO of Arrow Global, warns that inflation and high interest rates, coupled with the rise of populist and expansionary fiscal policies, will pressure central banks to act as a force of restraint.
On October 2, 2024, the Bank of Russia released new silver commemorative coins as part of the Jewellery Art in Russia series. The coins, known as 'Fabergé Scoop,' come in denominations of 3 rubles and two versions of 25 rubles—one with a colored coating.