US SEC decline Coinbase Global’s requests
The SEC refused Coinbase Global’s request for new digital asset sector guidelines, which the exchange challenged in court. The panel voted 3-2 against proposing new rules, disagreeing with Coinbase’s claim that current crypto restrictions are “unworkable.” Coinbase filed a court petition to review the SEC’s judgment, which is the latest in a ongoing battle between…
Russian central bank has raised its interest rate to 16%
Russian central bank Governor Elvira Nabiullina raised its key interest rate by 100 basis points to 16%, signaling the completion of its tightening cycle. The bank has hiked rates by 850 basis points since July, including an emergency boost in August. Medium-term pro-inflationary risks are significant, and stabilizing inflation near 4% would require high rates…
Money market fund asset has sky rocket to a new records
Investors are considering investing nearly $6 trillion in cash on the sidelines to boost assets, as the Federal Reserve’s response to rising inflation has led to a surge in money market fund assets. The total money market fund assets reached a record $5.9 trillion on December 6, according to the Investment Company Institute. However, the…
Russia’s inflation may reach 8% this years
Russian President Vladimir Putin has suggested that annual inflation in Russia may reach 8% this year, a day before the central bank is likely to raise interest rates to curb rising costs. Labor shortages, credit growth, rising government spending, and a weak rouble create inflationary pressure. Most analysts predict the Bank of Russia to raise…
The Fed will be cut rates sooner due to inflation slowdown
The Federal Reserve has held interest rates constant, despite inflation falling faster than predicted. Fed Chair Jerome Powell stated that people are not writing down rate hikes in their current economic projections, and that they are not the base case anymore. The Fed is now at the point where both mandates are important, with officials…
COP28 has agreed to reduce fossil fuel to save earth
At the COP28 climate meeting, nearly 200 countries agreed to reduce fossil fuel consumption to mitigate climate change, signaling the end of the oil age. The accord, reached after two weeks of intense discussions, was intended to show investors and policymakers that the world is united in its determination to abandon fossil fuels, which scientists…
The Fed probably maintain rate on this weeks meeting
The Federal Reserve is considering ending aggressive rate hikes to lower inflation, but softening financial conditions in recent weeks may pose a threat to monetary policy. Goldman Sachs’ financial conditions index, a measure of financial market tightness, surged to its highest point of the year amid a massive Treasury bond market rout, only to aggressively…
Italy would relief pressure on small business debt
Italy has put its plans to intervene in the 300 billion euro ($323 billion) bad loan market on hold, focusing exclusively on very small company loans. The government’s legislation, proposed by Industry Minister Adolfo Urso, would target business loans that have not yet been sold as a portfolio and be 250,000–500,000 euros each. The initial…