Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its […]
Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he […]
Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s […]
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still […]
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled […]
A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating […]
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered […]
Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits […]
Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period […]
The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States […]
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