September, 2017

• 18 September

  What makes China’s consumers so confident?

  

  If you only read the headlines—or, say, my columns—you might be pessimistic about China’s economy. Recent news has been dominated by a crackdown on capital outflows, worries about rapid debt growth, and efforts to rein in a risky overseas investment binge. Yet ordinary Chinese are highly optimistic: The China Consumer Confidence Index hit 114.6 in July, a level not seen ...

  Read More »
• 18 September

  Growth isn’t necessarily good news for Kim Jong Un

  

  Byung-Yeon Kim, a professor at Seoul National University, began interviewing North Korean defectors seven years ago to learn more about their country’s economy. One wouldn’t have thought there was much to discover: Often described as “Stalinist,” the hermetic regime to the north seemed to preside over a crude, centrally planned system, with peasants toiling away for a pittance in collective ...

  Read More »
• 18 September

  Stocks advance as US Fed week kicks off; gold drops

  

  Bloomberg US stocks added to records, the dollar halted a two-day drop and Treasuries slipped as investors remained bullish on the American economy ahead of the Federal Reserve’s policy meeting. Gold fell as demand for havens faded. The S&P 500 Index held above 2,500, the Stoxx Europe 600 jumped the most in almost a week and equities increased from Australia ...

  Read More »
• 18 September

  Qatar hits 5-year low as diplomatic rift hits firms

  

  Reuters Qatar’s stock index hit a five-year low on Monday because of a fresh sign that a diplomatic dispute in the region was starting to inflict long-term damage on some of its companies. Shares of Qatar Insurance dropped 2.3 percent after the company said it was closing its Abu Dhabi branch because it had not been able to obtain a ...

  Read More »
• 18 September

  PBOC to draft package for financial market opening

  

  Bloomberg China’s central bank is drafting a package of reforms which would give foreign investors greater access to the nation’s financial services industry, according to people familiar with the matter. The People’s Bank of China will convene an internal meeting on Tuesday to discuss its proposals and get feedback from Chinese institutions, said the people, who asked not to be ...

  Read More »
• 18 September

  World’s central banks can’t ignore bitcoin boom, says BIS

  

  Bloomberg The world’s central banks can’t ignore the growth in cryptocurrencies and may at some point have to consider whether it makes sense for them to issue their own digital currencies, according to the Bank for International Settlements (BIS). “Whether or not a central bank should provide a digital alternative to cash is most pressing in countries, such as Sweden, ...

  Read More »
• 18 September

  Egypt inflation has peaked, says central bank

  

  Bloomberg Egyptian Central Bank Governor Tarek Amer said inflation in the most populous Arab country has peaked after policy makers responded to the surge in prices by raising borrowing costs to the highest level in more than a decade. “We are in the right direction and we are moving very fast,” Amer said in an interview on Monday. “We’ve been ...

  Read More »
• 18 September

  Europe’s desired oversight body needs the right name: Draghi

  

  Bloomberg Europe’s desire for a new institution that can keep an eye on government finances and rescue programs might be gaining momentum — if political leaders can only come up with a better name. The term ‘European Monetary Fund’ has become so entrenched that it was included in European Commission President Jean-Claude Juncker’s State of the Union address last week, ...

  Read More »
• 18 September

  UK banks are smaller, poorer a decade after 2007 crash

  

  Bloomberg Ten years ago, a lender called Northern Rock, bloated with billions of pounds of risky mortgages, received emergency support from the Bank of England after the short-term funding it relied on dried up. Depositors lined up outside branches to get their money back, the first run on a British bank in 150 years. It was the start of a ...

  Read More »
• 18 September

  Freedom may remain elusive for Brazil central bank head

  Bloomberg Ilan Goldfajn is racking up the milestones as Brazil’s central bank president, but he’s still a long way from securing the institution’s ultimate goal: greater independence. Since taking the helm in June last year, the 51 year-old former Itau Unibanco chief economist has helped bring inflation to an 18-year low, hastened the end of subsidized state loans, and saw ...

  Read More »