Tag Archives: central bank

How Ex-AGF Adoke Sold N500m Property To Nigeria’s Apex Bank For N4 Billion, Nigerian Government Tells UK Court

The Nigerian government has informed a UK court of how Mohammed Bello Adoke, former Attorney General of the Federation, sold a property to the Central Bank of Nigeria at an overvalued price.The government said the property in the Federal Capital Territory was sold by Adoke through its CBN ally for …

Read More »

New sanctions issued against Russia and Belarus by EU and UK | Pillsbury – Global Trade Law and Sanctions

The EU and UK have imposed additional export controls and sanctions on Russia and Belarus linked to the Russian invasion of Ukraine. Below is a summary of the main developments in recent days since our last blog post on EU and UK developments. [here]. This is a rapidly developing area …

Read More »

Roller coaster day for actions after Russia imposes sanctions on Ukraine | Stock markets

Markets echoed Monday in the aftermath of Russia’s invasion of Ukraine as governments ramped up sanctions and investors shifted funds from companies likely to suffer in the event of a long war. Equity markets suffered a rollercoaster day after stocks tumbled early in the session before recovering most of the …

Read More »

Russia’s foreign exchange reserves escape it

The Russian Central Bank’s large stock of reserves was supposed to keep the currency stable in the face of market panic. Reserves – worth $630 billion at the end of January – are made up of assets and deposits denominated in the world’s major currencies (i.e. the dollar, euro, pound …

Read More »

Western powers have realized that Russia is largely immune to sanctions | Russia

The war against Russia is a war that Western countries want to wage with only economic sanctions, not guns. The conflict between Russia and Ukraine, despite its long gestation and planning by Vladimir Putin and his supporters in the Kremlin, was supposed to end quickly once financial retaliation began. Yes, …

Read More »

UK regulator warns banks of potential Russian-sponsored cyberattack

As the standoff over Ukraine’s future continues, Britain’s financial regulator has advised banks to beef up and test their defenses against potential Russian-sponsored cyberattacks. Two CEOs who received a ‘Dear CEO’ letter from the Financial Conduct Authority, major banks operating in the UK have been warned of the heightened dangers …

Read More »

US economic war on Afghanistan amounts to a humanitarian crime | Larry Elliot

The war in Afghanistan did not end when American and British troops left Kabul airport last year; he simply took on a different form, but still deadly. President Joe Biden’s response to the military humiliation inflicted on America by the Taliban has been a scorched earth policy designed to cause …

Read More »

US Creates Nearly Half a Million Jobs Despite omicron

gHello. Details are starting to come in on a series of cyberattacks targeting European oil companies this week. Two German fuel storage companies – Mabanfaft and Oiltanking – have been crippled by ransomware known as Black Cat. The hackers are believed to have links to the Russian group that attacked …

Read More »

Global economy chart: UK inflation soars, China cuts rates

Breadcrumb Links PMN Company Author of the article: Bloomberg News Vince Golle and Molly Smith Content of the article (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The fastest inflation in three decades and a booming labor market are increasing …

Read More »

US Treasuries drop as fears ease over Omicron’s impact on recovery

Traders sold US Treasuries and stocks of companies that were boosted by pandemic lockdowns on Tuesday as market nervousness over the Omicron variant eased and investors bet on a tightening of the market. Monetary Policy. The yield on the benchmark 10-year US Treasury bond, which moves inversely to the price …

Read More »

UK Consumers Increase Credit Card Debt, Save Less Despite Covid Crisis | Loan and debt

Consumer credit card borrowing hit its highest level in more than a year in November, pushing all forms of unsecured household credit to £ 1.2 billion, according to the Bank’s latest data from England. The increase in reliance on loans and credit cards has exceeded the city’s forecast of an …

Read More »

Former presidential candidate Bashir Tofa is dead

Bashir Tofa, a former presidential candidate, has died. Mr. Tofa died Monday morning at the age of 74 after a long illness. A close associate of the deceased, Magaji Galadima (Kachallan Kano), announced the death in a post on Facebook. Mr. Galadima wrote: “Allahu akbar, we have finally lost Alh. …

Read More »

US stocks fall after report showing sharp rise in producer prices

U.S. stocks fell after a report said U.S. wholesale prices rose at a record pace last month, further increasing pressure on the Federal Reserve to end its buying program more quickly of bonds. Wall Street’s benchmark S&P 500 fell 0.7% at the start of trading in New York, the tech-focused …

Read More »

Prince Andrew used his royal connection to help controversial mogul

Prince Andrew has worked secretly behind the scenes to help a controversial multimillionaire open a bank for the super-rich in Monaco, The Mail on Sunday reveals. Explosive emails leaked to this newspaper reveal how the Duke of York contacted the office of Albert II, the Sovereign Prince of Monaco, on …

Read More »

Analysis: Less says better? Bank of England considers communication reset

Markets confused by BoE signals ahead of November meeting Sterling and gilt yields fell after unchanged discount rate BoE’s pill says he wants to ‘train’ markets to better understand Governor Bailey sees case for less advice Investors still expect the BoE to hike rates in December LONDON, Nov. 26 (Reuters) …

Read More »

Cash disappears from economy and we need to adapt, Bank of England says

Cash is disappearing from the UK economy, a Bank of England (BoE) official said, arguing for a new form of digital currency. Central bank deputy governor Jon Cunliffe said technology, including the internet, and the popularity of credit and debit cards are reducing the role cash plays in transactions. The …

Read More »

FirstFT: US, China discuss nuclear arsenals

Hello. This article is an on-site version of our FirstFT newsletter. Subscribe to our Asia, Europe / Africa or Americas edition to receive it directly to your inbox every morning of the week Joe Biden and Xi Jinping have agreed to hold talks aimed at reducing tensions, as US anxiety …

Read More »

BoE chief economist warns UK inflation set to hit 5%

Inflation in the UK is expected to rise “close to or even slightly above 5%” early next year, the Bank of England’s new chief economist has warned, saying the central bank will have a “live” decision on whether to raise interest rates. at its November meeting. In his first interview …

Read More »

Britcoin: a booster for the British economy?

Written by: Konstantin Anissimov, Executive Director of CEX.IO Central bank digital currencies (CBDCs) have become the focus of many governments, as their integration can fundamentally change existing payment ecosystems around the world. CBDCs are managed by the respective federal banks and so far only five countries have deployed their versions …

Read More »

Bank of England inflation problem becomes embarrassing

IInflation is increasingly difficult to ignore. From central bankers to ordinary consumers grimacing over their energy bills, the rate at which prices are rising has become a pressing concern. Investors are also worried. Financial markets are betting that the Bank of England’s key interest rate could reach 1% by the …

Read More »

Central bankers move towards “normalization”

Bulletin: The Road to Recovery Expert coverage on the recovery of business and the economy after the pandemic. Delivered 3 times a week. This article is an in-place version of our Road to Recovery newsletter. Sign up here to receive the newsletter straight to your inbox three times a week …

Read More »

Bank of England holds rates, lowers growth forecast

General view of the Royal Exchange, the Bank of England and the City of London in the image. Vuk Valcic | SOPA Pictures | LightRocket | Getty Images LONDON – The Bank of England on Thursday kept monetary policy unchanged and lowered its forecast for economic growth for the third …

Read More »

The FTSE 100 bounces back on commodities and bank stocks

People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015. REUTERS / Suzanne Plunkett / File Photo Anglo American miner jumps on solid production data EasyJet says it will fly 60% of its pre-pandemic capacity Leading economist says cutting stimulus support early is not …

Read More »

UK stocks gain as UK sets to reopen next week

Signage is visible outside the entrance to the London Stock Exchange in London, Britain. August 23, 2018. REUTERS / Peter Nicholls / File photo UK economy to grow rapidly this quarter as lockdown ends – poll Burberry drops even after strong sales Rio Tinto falls after drop in iron ore …

Read More »

Fed boosts bonds, Delta blues blocks stocks

LONDON (Reuters) – European stock markets slumped and government bond yields slumped Thursday after the Federal Reserve chief softened tapering talks and traders struggled to cope on the rapid global rise in COVID-19 Delta variant cases. There was also a huge amount of Chinese data to digest, including a slightly …

Read More »

Experts say Irish economy can survive OECD tax reforms

Large-scale global tax reforms are paying off and at first glance Ireland has the most to lose due to the economy’s heavy reliance on US multinationals. On Thursday, 130 countries approved a framework agreement from the Organization for Economic Co-operation and Development (OECD), which brings together 38 rich countries, to …

Read More »

Why central banks are getting into the crypto game

From bitcoin to ethereum, digital currencies have been heralded as a new dawn for money. They allow faster and cheaper transfers, promote financial inclusion and offer greater privacy, according to their supporters. However, the promise of anonymity has also made it a favored financial medium for fraudsters and criminals. And …

Read More »

Bank of England rate, flash PMI and Fed consequences

The city will monitor for indications of further movements from the Bank of England. Photo: Dominic Lipinski / PA Images via Getty Images In the markets next week, investors are expected to read the tea leaves on what central banks could do, with several speeches on the slate of a …

Read More »

The book pinned to the reopening

Hello, It was another difficult start for the pound with notable losses against the euro and the dollar. The two now appear to have stabilized somewhat, with GBP / EUR returning to 1.1613 and the GBP / USD rate trade at 1.4133 at the time of writing. The driving factor …

Read More »

You decide: are we looking at an MMT test?

By Dr Mike Walden Although the main principles of economics were established decades ago, the discipline is constantly evolving. One of the most recent contributions has been a new field called “behavioral economics”. Here, the researchers developed ideas as to why – in some cases – individuals seem to go …

Read More »