The BRICS Bank will help African countries finance
BRICS New Development Bank, founded in 2015, may finance African projects to address pressing issues. The bank supports physical, digital, and educational infrastructure projects, and Africa’s share of global FDI rose to 8.8% in 2021. Rousseff emphasized Africa’s untapped hydroelectric potential and called for multi-country infrastructure projects.
Mexico’s central bank agreed to monitor prices
Mexico’s central bank’s five-member board has agreed to monitor prices, but their August meeting minutes will be disclosed. Citi analysts expect rates to decline in December, and Banxico is the last major central bank in the area to loosen monetary policy. The bank is more hawkish than Latin American policymakers like Chile and Brazil, who…
Mexico’s inflation has been subsided in early August
Mexico’s annual inflation fell in early August, with consumer prices growing 4.67% in the first half of the month, down from 4.78% in late July. This was close to Bloomberg’s 4.66% median expectation, easing borrowing costs at 11.25%. Core inflation, which excludes volatile commodities, fell to 6.21%, maintaining over the central bank’s 3% objective. Core…
The Bank Of Japan releases several measurement
In July, Japan experienced record highs in broad price trends, indicating a retreat from ultra-loose monetary policy. The BOJ monitors inflation measures based on government consumer price data to determine if price increases are due to fuel or broadening enough to sustain its 2% inflation objective. The “trimmed mean” index gained a record 3.3% in…
The demand on gold are rising, is today the best moment to buy gold?
A survey predicts increased gold prices to trade at $2,021 per ounce in 12 months. Gold’s demand is driven by geopolitical tensions, macroeconomic uncertainties, and global central bank purchases. The World Gold Council believes the metal’s potential to diversify portfolios is supported by a breakdown in the correlation between equities and bonds. However, gold-watchers may…
Gold became an investors best choice
Money managers are cautiously optimistic about gold exposure in 2024, as the US dollar has fallen due to rising real yields, a stronger US dollar, and higher rates. Over two-thirds expect prices to rise, and five expect an all-time high. The Federal Reserve’s tightening cycle is unclear, but investors are ready for longer rate hikes.…
S&P downgrades affected major shares of US banks
S&P Global and Moody’s downgraded regional lenders with substantial commercial real estate (CRE) exposure, leading to a slump in U.S. banks. This decision may raise borrowing costs for the banking sector, which is trying to recover from three regional lenders’ failure earlier this year. The downgrades may raise borrowing costs for banks trying to recover…
China Construction Bank Corp reported an increase net profit
CCB, China’s second-largest lender, reported a 3.36% increase in first-half net profit, reaching 167.34 billion yuan ($22.95 billion). Beijing pressures Chinese lenders to offer national services, squeezing profitability. The bank’s net interest margin dropped to 1.79% from 1.83% in March. CCB will continue supporting the real economy as a key state bank.