US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Expansion of Russian payment difficulties encounters ‘difficulties’

Russia is experiencing difficulties globally expanding its payment system set up to evade Ukraine-related sanctions, the head of the Russian Central Bank said Friday. Visa and Mastercard suspended operations in Russia after the offensive in Ukraine, meaning cards issued abroad no longer worked there and cards issued in Russia no longer worked abroad. Bank transfers … Read more

Expansion of Russian payment difficulties encounters ‘difficulties’

Russia is experiencing difficulties globally expanding its payment system set up to evade Ukraine-related sanctions, the head of the Russian Central Bank said Friday. Visa and Mastercard suspended operations in Russia after the offensive in Ukraine, meaning cards issued abroad no longer worked there and cards issued in Russia no longer worked abroad. Bank transfers … Read more

Bank of Korea Calls for Ending Country’s ICO Ban to Promote Innovation

Editor’s Note: Stay tuned for the daily news with so much market volatility! Catch up in minutes with our quick round-up of the news to read today and expert opinions. Register here! (Kitco News) – Signs of a global shift in the regulation of cryptocurrencies continue to emerge, with the Bank of Korea … Read more

Turkish Central Bank Takes Steps on Credit Availability, Financial Stability

The Central Bank of the Republic of Türkiye (CBRT) on Saturday announced new macroprudential measures to address credit growth and applied interest rates on commercial loans, facilitating the availability of loans to the real sector. The move is intended to support financial stability and strengthen the monetary transmission mechanism, the bank said in a statement, … Read more

Future for gold yields is robust as monetary conditions tighten, TD Securities says

(Kitco News) According to TD Securities, it is a misconception that gold offers no return, at least not when it comes to central banks. “While generating returns from gold holdings is generally not available to most retail investors, central banks can actively manage their holdings to generate returns,” said Bart Melek, … Read more

ACTU unions call for inflation policy review ahead of Australian jobs summit

Australia’s main economic goal should be for everyone to have the opportunity to find a secure and reasonably paying job, the country’s main trade union organization says. The Australian Council of Trade Unions will urge the federal government to make achieving “full and secure employment” the top priority at the upcoming jobs summit on September … Read more

Reserve Bank to test digital currencies in ‘limited-scale pilot scheme’

The Reserve Bank of Australia will test its proprietary digital currency as part of a research project to evaluate the future of Central Bank Digital Currencies (CBDC) in Australia. Most important points: The RBA will launch a central bank digital currency (CBDC) pilot project as part of a research project The CBDC becomes a real … Read more

Shinzo Abe’s death could lead Japan to distance itself from Abenomics to curb government debt

The death of Shinzo Abe – namesake of Japan’s ‘Abenomics’ policy – makes it highly unlikely that his legacy will be attacked immediately, but could eventually allow Prime Minister Fumio Kishida to wind down Mr Abe’s government spending and monetary incentives. Most important points: Former Japanese Prime Minister’s Economic Policy Is Credited For Restoring The … Read more