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☆ Russian economists and officials foresee a hard struggle in 2025
▼ + stars: | 2024-11-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Russian officials and business leaders met at an economic forum this week. Russia's main interest rate is at 21% and could be hiked further still. Officials and business leaders shared pessimistic economic outlooks for 2025 at the Russian Economic Forum, held this week in Chelyabinsk, in central Russia. Andrei Klepach, chief economist at the state-run development entity VEB.RF, predicted that economic growth would fall from an estimated 2.5% to around 2% in 2025. Some, he said, would benefit from a subsidized interest rate of 1% to 5%.

Persons: —, Andrei Klepach, Alexander Shokhin, Shokhin, Mikhail Mishustin, Alexander Novak, Kirill Tremasov Organizations: Service, Russian Economic, Central Bank of Russia, Industrialists, Russian, Russia's Locations: Chelyabinsk, Russia, Ukraine, Russian Union, Russian

☆ Malaysia must avoid 'boom-bust' cycles to finally claim Asian Tiger status, central bank governor says
▼ + stars: | 2024-10-25 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

Abdul Rasheed Ghaffour, governor of Bank Negara Malaysia, during a news conference at Sasana Kijang Center, which houses Bank Negara Malaysia facilities, in Kuala Lumpur. Malaysia is working toward having the "the right ingredients" to finally claim "Asian Tiger" status, but must avoid the traps of widening inequality seen elsewhere. That's according to Abdul Rasheed Ghaffour, the governor of the central bank of Malaysia, who believes the southeast Asian country must avoid a "boom-bust cycle that has happened before." But it may be a case of better late than never, thanks to better-than-expected economic growth this year. Ghaffour said Malaysia is moving into producing logic chips — more advanced chips often know as the brains of electronic devices.

Persons: Abdul Rasheed Ghaffour, Ghaffour, Karen Tso, Donald Trump, Kamala Harris Organizations: Bank Negara Malaysia, Bank Negara, Washington , D.C, CNBC, Asian Tigers, Oxfam, Taiwan's, Budget, Accounting, Statistics, Tech, Intel, Economic, ASEAN, Republican, Democratic Locations: Bank, Bank Negara Malaysia, Kuala Lumpur, Malaysia, Hong Kong, Singapore, Taiwan, South Korea, Washington ,, Hong Kong's, Penang, European, U.S, Malaysian, Thailand, Indonesia .

☆ Watch CNBC’s full interview with the Brazilian central bank governor
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with the Brazilian central bank governorRoberto Campos Neto, governor of the Central Bank of Brazil, speaks to CNBC’s Karen Tso at the IMF Meetings in Washington, D.C.

Persons: Roberto Campos Neto, Karen Tso Organizations: Central Bank of Locations: Brazilian, Central Bank of Brazil, Washington ,

☆ Asia-Pacific markets mixed as investors await China loan prime rate announcement
▼ + stars: | 2024-10-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The central bank of the People's Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability. Asia-Pacific markets were mixed Monday as traders awaited China's loan prime rate announcement, with focus also on Japan's general election at the end of this week. China's central bank is expected to cut the one-year and five-year LPRs by 20 basis points, according to a note by ING and echoing the statement made by People's Bank of China Governor Pan Gongsheng on Friday. "Data aside, it is worth monitoring if there are potential further government ministry briefings or a potential announcement of the timing for the National People's Congress meeting in the week ahead, as stimulus rollout remains a major theme for markets," ING said. Other key economic data this week will include October inflation figures for Japan's capital city of Tokyo, as well as advance third-quarter GDP figures from South Korea.

Persons: Pan Gongsheng Organizations: ING, People's Bank of China, National People's Locations: People's Republic of China, Asia, Pacific, Tokyo, South Korea

☆ Asia markets rebound after Wall Street rally; central bank decisions in focus: Live updates
▼ + stars: | 2024-10-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An aerial view shows the Central Bank of India building, in Mumbai, India, 28 September, 2022. (Photo by Niharika Kulkarni/NurPhoto via Getty Images)Asia-Pacific markets rebounded on Wednesday following a broad decline in the previous session and as Wall Street rallied overnight. Investors are focused on policy decisions from the Reserve Bank of New Zealand and the Reserve Bank of India. New Zealand's central bank is expected to slash its policy rate by 50 basis points to 4.75%, while the RBI is expected to hold rates at 6.5%.

Persons: Niharika Kulkarni Organizations: Central Bank of India, Getty Images, Wall Street, Investors, Reserve Bank of New, Reserve Bank of India Locations: Mumbai, India, Asia, Pacific, Reserve Bank of New Zealand, New

☆ Brazil votes in local elections with eyes on 2026 presidential showdown
▼ + stars: | 2024-10-06 | by ( ) www.cnbc.com time to read: +3 min

Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. Marçal, an anti-establishment political novice who has surged in the polls with his vitriolic attacks on adversaries, ran a social media campaign with little funding and no TV time. Polls showed that candidates linked to Lula are facing trouble as the president's popularity has slipped in his third non-consecutive term. On the right, candidates associated with hard-right former President Jair Bolsonaro have fared better, even though he was banned from seeking elected office until 2030 for his unfounded attacks on Brazil's voting system. "The anti-establishment views of the right have become the trend," said political risk expert Creomar de Souza.

Persons: Ricardo Nunes, Pablo Marçal, Guilherme Boulos, Luiz Inacio Lula da Silva, pollster Datafolha, Lula, Jair Bolsonaro, Creomar de Souza, Andre Cesar, Bolsonaro, Nunes, Marçal Organizations: Central Bank of, Workers Party, Lula's Workers Party, Sao Locations: Central Bank of Brazil, Brasilia, Brazil, Sao Paulo, Brazil's

☆ Bitcoin is flipping in and out of 'bear' mode but could still reach $100,000 this year
▼ + stars: | 2024-10-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin investors are grappling with a demand dearth that has pushed the cryptocurrency into bear market territory at times. (In the first quarter, bitcoin ETFs bought about 9,000 BTC daily on average, following their January launch.) In the fourth quarters of 2012, 2016, and 2020 — the previous Bitcoin halving years — bitcoin prices rose by 9%, 59%, and 171%, respectively. The most recent halving — the supply cutting event that takes place every four years — happened this April. BTC.CM= YTD mountain Bitcoin (BTC) year-to-date Bitcoin is set up well for the final quarter , but it's still working through a supply overhang from the U.S. and German governments as well as Mt.

Persons: It's, John Todaro, Needham, uptrend, it's, Wolfe, Rob Ginsberg, Owen Lau, Oppenheimer Organizations: CNBC, BTC, Federal Reserve, U.S Locations: China, U.S

☆ Hedge funds are piling into Chinese stocks like never before as sweeping stimulus sparks enthusiasm
▼ + stars: | 2024-10-03 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Beijing's rare stimulus blitz unleashed newfound optimism from hedge fund investors, who have been piling into beaten-down Chinese stocks like never before. Hedge funds started flocking to Chinese stocks after the government announced a flood of stimulus measures in a bid to revive growth and avoid a deep slump in the world's second largest economy. The high-profile investor even said he's raising his usual allocation limit and is not hedging his big China bet. He dove into Chinese internet stocks last quarter as Burry's hedge fund, Scion Asset Management, made Alibaba its top holding at the end of June. KWEB 5D mountain KraneShares CSI China Internet ETF Beijing's big stimulus also prompted BlackRock, the world's largest asset manager, to upgrade Chinese stocks to overweight — with a caveat.

Persons: Goldman Sachs, David Tepper, Tepper, Burry It's, bullish, Nick Wilcox, Michael Burry, Stanley Druckenmiller, he's Organizations: Appaloosa Management, CNBC, China . Man, Man, Scion Asset Management, Baidu, CSI China, BlackRock, U.S Locations: China, Taiwan

☆ Investors hope October paves way for records as cryptocurrency enters historically strong month
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

A September surprise has given bitcoin a head start on a potential run to record highs in the fourth quarter. The cryptocurrency posted a 7.7% gain for September — historically its weakest month of the year — and its best month since May. The month has become known to native crypto investors as "Uptober." … As crypto becomes increasingly correlated with traditional markets, it's expected to be another strong month." Investors expect bitcoin's price will be driven by rate cuts, more inflows into bitcoin ETFs by institutions and clarity following the election.

Persons: Ether, Bitcoin, Jerome Powell, James Davies, " Davies, David Duong, Duong, we've, bitcoin, it's, — CNBC's Michael Bloom, Nick Wells Organizations: U.S, International Longshoremen's Association, Gulf Coasts, bitcoin Locations: U.S, China

☆ A researcher who studied Trump's plans to control the Fed said it could tank the economy
▼ + stars: | 2024-09-29 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence. The study's lead researchers dug into the economic impact of three of Trump's campaign promises: mass deportations, tariffs, and eroding Fed independence. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results. AdvertisementHe doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. "If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.

Persons: Trump, —, Warwick McKibbin, McKibbin, Jerome Powell, Trump hasn't, they're, Kamala Harris, Harris Organizations: Peterson Institute, Fed, BI, Service, Federal, Peterson Institute of International Economics, Trump, PIIE, Business, Wall Street Journal, Biden Locations: China, Canada, Mexico, Australia, America

☆ China's central bank tells commercial lenders to start cutting rates on existing mortgages
▼ + stars: | 2024-09-29 | by ( ) www.cnbc.com time to read: 1 min

The central bank of the People's Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability. The People's Bank of China on Sunday told commercial banks to start lowering interest rates on all existing housing loans, in a sweeping move to help lighten the mortgage burden on households hit by a slowing economy. All commercial banks must, in batches, reduce interest rates on existing mortgages by Oct. 31 to no less than 30 basis points below the PBOC's Loan Prime Rate, the central bank's benchmark rate for mortgages, according to a statement released by the PBOC.

Organizations: People's Bank of China, Sunday, PBOC's Locations: People's Republic of China

☆ Oil prices fall as expectations of higher supplies hammer market sentiment
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters. Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters. "The big-ticket items on the markets radar this week have been Libya and OPEC+," analysts at FGE Energy told clients on Thursday. A media report on Wednesday claimed the previously announced reversal is due to Saudi Arabia's decision to abandon a $100 oil price target and gain market share, causing oil prices to slide by 3% in the previous session. Still, the report has set off renewed speculation about a battle for market share at a time that investor sentiment was already at record lows, FGE noted.

Persons: Brent, Daniel Hynes, FGE Organizations: OPEC, Brent, U.S, West Texas, FGE Energy, Central Bank of, ANZ Bank, Organization of Petroleum, Reuters, ICE Brent Locations: Libya, OPEC, Central Bank of Libya, Saudi, Saudi Arabia

☆ China's surprise stimulus could be a red flag, so investors should approach the nation's long-awaited rally with caution
▼ + stars: | 2024-09-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.

Persons: —, they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ China unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China on Friday kept its main benchmark lending rates unchanged at the monthly fixing. The People's Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%. The one-year LPR affects corporate and most household loans in China, while the five-year LPR acts as a benchmark for mortgage rates. Urban jobless rate rose to a six-month high, while year-on-year home prices fell at their fastest pace in nine years. Bank of America lowered their forecast for China's 2024 GDP growth to 4.8%, and Citigroup trimmed their projection to 4.7%.

Organizations: Reuters, People's Bank of China, Bank of America, Citigroup Locations: People's Republic of China, China

☆ India can achieve sustainable growth of up to 8% in the coming years, central bank chief says
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

Punit Paranjpe | Afp | Getty ImagesIndia can achieve sustainable economic growth of up to 8% over the medium term, according to the country's central bank governor. The figures have ratcheted up pressure on the central bank to launch its own rate-cutting cycle sooner rather than later. Shaktikanta Das, governor of the Reserve Bank of India (RBI), speaks during the Global Fintech Fest 2024 in Mumbai, India, on August 28, 2024. Nurphoto | Nurphoto | Getty ImagesIt comes as major central banks have started to ease monetary policy in recent months, including the European Central Bank, the Bank of England and the Swiss National Bank. Women (silhouetted) walk past Reserve Bank of India (RBI) logo displayed at Global Fintech Fest exhibition in Mumbai.

Persons: Punit Paranjpe, CNBC's Tanvir Gill, Shaktikanta Das, Das, Goldman Sachs Organizations: Afp, Getty, Reserve Bank of India, International Monetary Fund, Nurphoto, European Central Bank, Bank of England, Swiss National Bank, The U.S . Federal Reserve, ECB, Bank of India, Global Locations: Mumbai, India, Japan, Germany, U.S, China

☆ It's a big week for central banks around the world, with a slew of rate moves on the table
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.

Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan

☆ Treasury yields move lower ahead of key consumer inflation report
▼ + stars: | 2024-09-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury was nearly 2 basis points lower at 3.625%, with the 2-year Treasury yield down 2 basis points at 3.586%. Treasury yields dipped on Wednesday as investors awaited the release of U.S. inflation data for clues on the size of a potential interest rate cut from the Federal Reserve next week. The reports come ahead of the Fed's Sept 17-18 meeting, with traders widely expecting a rate cut. Others have described such a move as one that would be "very dangerous" for markets, pushing instead for the Fed to deliver a quarter-point rate cut instead. Traders are currently pricing in a 67% chance of a 25-basis-point rate cut, with 33% expecting a 50-basis-point rate reduction, according to the CME Group's FedWatch Tool.

Organizations: Treasury, Federal Reserve, Fed Locations: U.S

☆ Russia's central bank and lenders tell each other to resolve the country's yuan supply squeeze
▼ + stars: | 2024-09-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russian banks are urging the country's central bank to boost yuan liquidity amid shortages. But Russia's central bank is advising lenders to limit yuan-denominated loans. The Russian central bank said currency swaps are a short-term, not a long-term solution to yuan supply. But Russia's central bank is passing the buck back to the country's banks. In a report published on Friday, Russia's central bank advised lenders to limit the issuance of yuan-denominated loans.

Persons: — Organizations: Service, Central Bank of Russia, Business Locations: Russian, Russia's

☆ Chicago Fed President Goolsbee says if economy deteriorates, Fed will 'fix it'
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Chicago Federal Reserve President Austan Goolsbee on Monday vowed that the central bank would react to signs of weakness in the economy and indicated that interest rates could be too restrictive now. Policymakers have been focused on the "real" fed funds rate, which is the Fed's benchmark minus the inflation rate. As inflation declines, the real rate increases — unless the Fed chooses to cut. The real rate now is around 2.73%; Fed officials judge the long-term real rate to be closer to 0.5%. Traders expect the Fed to slice 1.25-1.5 percentage points off the funds rate by the end of the year, according to the CME Group's FedWatch Tool.

Persons: Austan Goolsbee, Goolsbee, nonfarm, I'm, we're Organizations: Chicago Federal, Dow Jones, Fed, Labor Department, Traders

☆ India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says
▼ + stars: | 2024-06-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewIndian Prime Minister Narendra Modi this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China. Both India and China will be focused on manufacturingTo reach its goal, Modi's India will likely be going big on manufacturing. Companies are diversifying their operations outside China to avoid over-relying on one country, and India is aiming to be the new China. AdvertisementIndia's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told Channel NewsAsia. "I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev.

Persons: —, Narendra Modi, David Lubin, Modi, Xi Jinping, Bharat, Lubin, Raghuram Rajan, NPR's, Rajan, It's, William Lai's, Mao Ning, Ivan Lidarev Organizations: Service, London, Business, South, Central Bank of India, EV, King's College London, West Locations: —, China, Asia, India, Vietnam, Bangladesh, Malaysia, Delhi, Taiwan, Beijing

☆ India wants to be the new China. Modi's shock election result shows it won't be easy.
▼ + stars: | 2024-06-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The growth is in part thanks to a shift in supply chains and investment flows as companies try to stop relying solely on China. India's stock markets tanked on the shock election results, with the benchmark Sensex index crashing over 5% in one day on Tuesday following the news. Despite the knee-jerk reaction, most analysts are optimistic about India's economic outlook given that Modi is still in charge. He said India will do better to capitalize on its services industry, especially since so many Indians are English speakers.

Persons: —, Narendra Modi's, Modi, Atman Trivedi, China, Council's Trivedi, Vishnu Varathan, Raghuram Rajan, NPR's, It's, Rajan Organizations: Service, Indian, Business, Bharatiya Janata Party, —, Atlantic, Asia Center, Centre, Monitoring, Coalition, Albright, Group, Mizuho Bank, United Nations Population Fund, University of Chicago Booth School of Business, Central Bank of India, International Monetary Fund Locations: China, India, Communist China, Asia, Japan

☆ European Central Bank’s Knot says monetary policy to ease ‘gradually,' as markets brace for June rate cut
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.

Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London

☆ Some central banks have sold gold at record prices, cashing in on the global boom
▼ + stars: | 2024-05-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewCentral banks around the world have been snapping up gold, sending prices of the metal to record highs. The country's gold stash accounted for nearly three-quarters of its reserves as of March this year, according to WGC data. In 2022, Uzbekistan produced 110.8 tons of gold, making it the 10th top gold producer in the world, per WGC. Uzbekistan gold mining in March 2024. The country legalized private gold digging in 2019, and any gold found must be traded via its central bank.

Persons: —, it's, VYACHESLAV OSELEDKO, Shavkat Mirziyoyev Organizations: Service, Business, World Gold, Central Bank of, Uzbek, AFP Locations: China, Saudi, Central Bank of Uzbekistan, Thailand, Kazakhstan, Uzbekistan, Kazakh

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