September, 2022

• 10 September

  Bank of Canada puts down goal posts for future path of rates

  

    Bloomberg The Bank of Canada laid out key markers it will be watching as it considers how high borrowing costs will need to rise, flagging inflation expectations and underlying momentum of price pressures. In a speech in Calgary, Senior Deputy Governor Carolyn Rogers said policy makers will be closely monitoring how consumption, global supply disruptions and inflation measures evolve ...

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• 10 September

  Serbia surprises with bigger rate increases

  

    Bloomberg Serbia lifted its benchmark interest rate more than expected to the highest level since early 2018 as the Balkan nation steps up efforts to tame accelerating inflation. The central bank raised its one-week repurchase rate by half a percentage point to 3.5%. Most analysts expected a hike of 25 basis points, with five of 17 correctly predicting the ...

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• 10 September

  Bank of England delays its next interest rate decision

    Bloomberg The Bank of England delayed its next interest-rate decision a week to September 22 to allow a period of mourning after the death of Queen Elizabeth II. The move gives the Monetary Policy Committee more time to consider key inflation and jobs data due to be published next week. It also brings the rate decision closer to the ...

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• 10 September

  Vietnam sets dong fixing at record low

    Bloomberg Vietnam set its reference rate for the dong at a record low, setting the stage for more weakness in the country’s currency The State Bank of Vietnam set the currency fixing at 23,281 dong per dollar, the weakest since at least 2005, according to data compiled by Bloomberg. That’s after the dong fell to the lowest in more ...

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• 10 September

  UBS abandons $1.4bn deal for robo-adviser Wealthfront

  

  Bloomberg UBS Group AG has abandoned its plan to acquire US robo-adviser Wealthfront, unwinding what would have been the Swiss bank’s first major acquisition under Chief Executive Officer Ralph Hamers. The companies together decided to terminate their January merger agreement, valued at $1.4 billion, according to statements from both of them that didn’t specify a reason. UBS will purchase a ...

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• 10 September

  Wall Street’s commodity traders on track to break profit records

  

    Bloomberg The world’s biggest banks are on track to make a killing in commodities this year, surpassing the record sums they made in the financial crisis. The 100 biggest banks by revenue are set to make $18 billion from commodities trading in 2022, according to data and estimates from Vali Analytics in London. That would be the highest in ...

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• 10 September

  BofA says ‘appalling’ mood fuels $11bn US stocks exodus

  

    Bloomberg Investors are rushing out of US equities as the likelihood of an economic downturn increases amid a myriad of risks, according to Bank of America Corp (BofA) strategists. The nation’s stock funds had outflows of $10.9 billion in the week to September 7, according to EPFR Global data cited by the bank. The biggest exodus in 11 weeks ...

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• 10 September

  Stocks, US equity futures gain as dollar slides

  Bloomberg Stocks and US equity futures advanced on Friday as investors assessed whether monetary tightening to tackle inflation in the US and Europe is getting closer to being priced in. A gauge of dollar strength dropped the most in a month. Europe’s Stoxx 600 Index jumped as miners rallied on optimism over Chinese demand. Gains in S&P 500 and Nasdaq ...

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• 9 September

  Dubai real estate deals surge to record AED24.3b in August

  

    Dubai / WAM The real estate market in Dubai recorded 9,720 total sales worth AED24.3 billion in August, the highest performing month in terms of sales transactions volume and value in 12 years, according to Property Finder, the leading Menat’s proptech company. Comparing period-over-period growth, August witnessed a monthly growth rate in volume of around 37.1 percent and 69.6 ...

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• 9 September

  Queen Elizabeth II, Britain’s longest-reigning monarch, dies

  BALMORAL / WAM Queen Elizabeth, Britain’s longest-reigning monarch and the nation’s figurehead for seven decades, has died aged 96, Buckingham Palace said on Thursday, Reuters reported. With her death, her eldest son Charles, the former Prince of Wales, will lead the country in mourning as the new King and head of state for 14 Commonwealth realms.

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