Global debt rose to a record $233 trillion in the third quarter of 2017, more than $16 trillion higher from end-2016, according to an analysis by the Institute of International Finance. Private non-financial sector debt hit all-time highs in Canada, France, Hong Kong, South Korea, Switzerland and Turkey.
The Bank of England will allow European banks to continue selling their services in the UK without having to create expensive subsidiaries after Brexit, even if no divorce deal is struck between London and Brussels, the BBC reported.
The Bank of England will not force European-based investment banks to ringfence their capital and liquidity. It will mean EU banks operating through UK branches can continue without creating subsidiaries – where they are compelled to hold their own substantial reserves in the event of a financial shock, essentially becoming UK companies.
Fewer than 4,600 banking jobs will be moved out of London because of Brexit, according to new research. That figures represents just 6% of the total number of people employed by big international banks in the City – and is far below previous, gloomier predictions.
The Swiss National Bank maintained its ultra-loose monetary policy stance on Thursday, saying it would keep its negative interest rates in place to combat the "highly valued" Swiss franc.
The SNB kept the target range for its benchmark three-month interest rate at minus 1.25 percent to minus 0.25 percent, in line with expectations of analysts polled by Reuters.
Bank of Canada thinks now is a good time to research their own digital currency. Although the name remains unknown, they are not the first financial institution to contemplate such an approach.
Central bank digital currencies are a very unusual development in the financial sector. So far, no major bank has made any significant progress in developing such a currency. Bank of Canada may be the first to achieve some breakthrough in this regard. A paper has been circulating which focuses on creating a native digital currency.
The Organisation for Economic Cooperation and Development on Tuesday issued a forecast for weak economic growth in the UK over the next two years that is worse than a much reduced estimate published last week by Britain’s fiscal watchdog.
The club of rich nations expects Britain’s economic growth to drop sharply from a rate of 1.5 per cent in 2017 – placing the UK at the bottom of the G7 group of countries – to 1.2 per cent in 2018 and 1.1 per cent in 2019.
“The growth slowdown is expected to continue through 2018, due to continuing uncertainty over the outcome of negotiations around the decision to leave the European Union and the impact of higher inflation on household purchasing power,” said the OECD, adding that there would be a “moderate” rise in the UK’s current 4.3 per cent unemployment rate.
The eurozone unemployment rate fell to 8.8 percent in October, from 8.9 percent in September. A year ago, the rate was 9.8 percent. The positive data come after the European Central Bank (ECB) announced it was starting to wind down the massive support it has given the 19-member currency zone to help it through the crises of recent years.
For qualified investors / professional clients only
In order to proceed, you must confirm that you are a qualified investor based in Switzerland
The information contained in this section have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document.
Before investing in a product please read the latest prospectus carefully and thoroughly and note that funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided without any guarantee or warranty and are for the recipient's personal use and information purposes only