The average British property price had fallen back to early 2022
British house values fell at the highest rate since 2009 due to higher interest rates, with housing prices being 4.6% lower last month than in August 2022. A poll predicted a median 3.45% reduction, compared to a 2.5% yearly drop in July. August prices plummeted 1.9%, the most since November 2022 and more than the…
Malaysia’s central bank kept its benchmark interest rate unchanged
Bank Negara Malaysia (BNM), the central bank of Malaysia, has chosen to keep its benchmark interest rate at 3.00% for the second consecutive meeting, despite the presence of decelerating economic growth and inflationary pressures. The monetary policy stance of the bank continues to be accommodative towards the economy and is in line with the expectations…
Indian rupee falling to a record low today
Four bankers have reported that the Reserve Bank of India often intervenes in the non-deliverable future (NDF) market to prevent the rupee from falling to a record low. The rupee hit 83.1525 to the U.S. dollar, close to its October 2022 record low of 83.29. The RBI intervenes in the NDF market through the BIS…
The US Dollar reach a 10-month high this month
Investors shifted to the US dollar due to global growth concerns, particularly in China, which drove it to a near six-month high. The Australian dollar fell as the RBA maintained rates. A private-sector survey showed China’s services activity grew at the weakest pace in eight months in August, and a survey found that euro zone…
The Yen and Yuan are the weakest Asian currencies this year
The US dollar’s sustained rise is causing Asian currencies to fall to multi-month lows and pressuring the euro, leading Japan and China to defend their exchange rates. Japan’s top currency official warned of rapid yen falls and China’s central bank issued its most aggressive daily reference rate for the yuan, causing the controlled currency to…
FINMA CEO has resigned due to health reasons
FINMA’s head, Urban Angehrn, has resigned due to health reasons, six months after being criticized for failing to prevent Credit Suisse’s collapse. Angehrn, who led the authority since November 2021, resigned for health reasons. FINMA has been criticized for failing to stop Credit Suisse’s recent crises sooner or better, and local media alleged that FINMA…
US Dollar rose 0.5% and recession predict are shrink
The US dollar reached a five-month high on Tuesday, extending its 4-5% gain since mid-July. Despite sluggish Chinese and European growth, investors are bullish on the dollar due to rising US yields and falling equity prices. Goldman Sachs Group reduced its US recession prediction from 20% to 15%. The US economy is surviving significant monetary…
Banks are increasing liquidity from securities investment
Mid-sized banks are concerned about potential US regulators tightening capital and liquidity requirements for banks with $100 billion or more. The Fed’s tightening since March 2022 has flooded banks’ longer-term securities, causing investor concern over bank balance sheets. Banks have reduced securities investments or sold them at a loss to increase liquidity. Bank of America…