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• IMF declares UK’s 2023 recession risk averted

  TL;DR Breakdown The International Monetary Fund (IMF) has revised its forecast for the UK economy, now predicting a growth of 0.4% in 2023, effectively averting a projected recession. The IMF attributes this turnaround to measures taken by the UK government to stabilize the economy, tackle inflation, and promote wage growth and business confidence. The International Monetary Fund (IMF) has released a revised economic forecast for the United Kingdom, stating that the earlier projected recession for 2023 has been successfully avoided. The IMF attributes this positive shift to effective measures taken by the UK government in stabilizing the economy and combating inflation. However, the organization advises caution, urging the government to resist pre-election tax cuts. UK’s elevation from recession The IMF had previously expected the UK economy to shrink by 0.3% in 2023, the weakest projection among all major economies. The new forecast, however, places the UK’s GDP growth at 0.4% for the year, surpassing certain affluent economies, including Germany. This change, the IMF suggests, is primarily due to a robust rebound in demand fueled by quicker-than-expected wage growth, increased governmental…

  Article 2023年5月25日

• Bank of England: Interest rate hikes are paying off

  TL;DR Breakdown The Bank of England asserts that its successive interest rate rises are impacting the economy positively. Recently, BoE lifted interest rates to a 15-year peak of 5.25%. The increase is beginning to strain the economy, but another rate hike is predicted in September. Despite the strain, Bank of England maintains that rate hikes are necessary to prevent further inflationary pressures. Description Another surge in the Bank of England’s (BoE) interest rate shows signs of efficacy, according to the chief economist. There is a distinct cooling effect on the labour market, simultaneously alleviating inflationary pressures. These are not merely hopeful conjectures but data-backed facts. Inflation takes a backseat, labour market cools In the wake of the Bank … Read more Another surge in the Bank of England’s (BoE) interest rate shows signs of efficacy, according to the chief economist. There is a distinct cooling effect on the labour market, simultaneously alleviating inflationary pressures. These are not merely hopeful conjectures but data-backed facts. Inflation takes a backseat, labour market cools In the wake of the Bank of England boosting interest…

  Article 2023年8月6日

• Jordan Peterson – “It is time to debank and embrace Bitcoin”

  TL;DR Breakdown Dr. Jordan Peterson, a renowned Canadian psychologist, has jumped on the Bitcoin Bandwagon and why investors should embrace the asset. Jordan Peterson liaised with Joe Nakamoto to accept donations on the Lightning Network instead of traditional platforms. As Jordan Pushes for Bitcoin adoption there remains a debate on the pros and cons of crypto adoption over traditional finance. Description Dr. Jordan Peterson, a renowned Canadian psychologist and author with over 4 million followers on X(formerly Twitter), ignited a debate on September 14th on why we should embrace Bitcoin, as it is likely to make banks irrelevant. He expressed his sentiments on the debanking movement as it could scrap banks. The author’s tweet was in … Read more Dr. Jordan Peterson, a renowned Canadian psychologist and author with over 4 million followers on X(formerly Twitter), ignited a debate on September 14th on why we should embrace Bitcoin, as it is likely to make banks irrelevant. He expressed his sentiments on the debanking movement as it could scrap banks. The author’s tweet was in response to the Australian news about…

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• China central bank to cut reserve ratio for foreign exchange deposits 

  TL;DR Breakdown China’s central bank plans to reduce mandatory foreign currency reserves amid a 5% decline in the renminbi against the US dollar in 2023. China policymakers have accelerated the introduction of new measures to bolster the country’s currency and economy, focusing on the property sector. The People’s Bank of China will reduce banks’ foreign exchange reserve requirement from 6% to 4%, effective September 15. Description China’s central bank plans to reduce the mandatory foreign currency reserves held by financial institutions, which reflects their commitment to bolster the weakening renminbi. The currency has declined by over 5% against the US dollar this year, mainly due to concerns surrounding China’s economic recovery, which has been sluggish since they lifted COVID-19 restrictions at … Read more China’s central bank plans to reduce the mandatory foreign currency reserves held by financial institutions, which reflects their commitment to bolster the weakening renminbi. The currency has declined by over 5% against the US dollar this year, mainly due to concerns surrounding China’s economic recovery, which has been sluggish since they lifted COVID-19 restrictions at the…

  Article 2023年9月1日

• Russian banker predicts dollar’s downfall in global shift

  TL;DR Breakdown Andrey Kostin, chairman of Russia’s second-largest bank, predicts the decline of the U.S. dollar’s dominance. The rise of the Chinese yuan is attributed to China’s growing economic power and a likely removal of currency restrictions. Western sanctions’ effects and actions freezing Russian assets have prompted countries to seek alternatives to the U.S. dollar. A seismic shift is forecasted in global currency dominance, with the chairman of VTB, Russia’s second-largest bank, hinting at the decline of the U.S. dollar. Andrey Kostin, who helms the bank, suggests that the emergence of the Chinese yuan as a potential global leader could signal a change in the global economic landscape. The emerging power of the yuan According to Kostin, the impending currency revolution has been sparked by China’s increasing economic prominence and worldwide reactions to ineffective Western sanctions during the Ukraine crisis. He predicts that as China continues to ascend the global economic ladder, they will likely start to loosen their currency restrictions, moving the yuan from a non-convertible to a convertible currency. Such a move would be a strategic chess move…

  Article 2023年6月13日