Monetary policy efforts in Canada have successfully reduced inflation, bringing it down to around 2%. This level is expected to stay within the Bank of Canada's target range of 1% to 3%. The decline in inflation is attributed to lower energy prices and reduced underlying inflationary pressures. However, the distribution of inflation rates across various components remains broader than usual.

The Bank of Russia has announced a press conference scheduled for October 25 at 15:00, following the Board of Directors' monetary policy meeting. The event will feature Bank of Russia Governor Elvira Nabiullina and Deputy Governor Alexey Zabotkin.

The balance between financial inclusion and macroprudential policy in South Africa is the focus of a recent study. The research examines how these regulations impact bank lending rates and volumes among the country's largest banks. Financial inclusion aims to extend affordable credit, which could affect the stability of the financial sector. In contrast, macroprudential policy seeks to mitigate financial risks.

The Chairman of the House Financial Services Committee, Patrick McHenry, issued a statement regarding the Consumer Financial Protection Bureau's (CFPB) final rule implementing Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. McHenry stated, "The CFPB’s final 1033 rule is a promising step forward to protect Americans’ financial data privacy." He emphasized that consumers should have control over their financial data, including knowledge of where it is going and how it is used. The ability to terminate data collection by certain firms was...

The Bank of Russia has put forward a proposal to the Russian Ministry of Finance to amend legislation concerning the use of QR codes in payments for goods and services. The central aspect of this proposal is that banks will be required to adopt a universal QR code, developed by the National Payment Card System (NPCS).

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.

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.