Fed Expected to Push Ahead with Rate Hike Plan – Reuters
The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September
FCA Finds Firms Still Failing to Fully Manage Benchmark Risks – Profit & Loss (free story)
Firms still have to do further work to identify the full range of their benchmark activities and improve their management of the associated risks according to the Financial Conduct Authority’s thematic review of oversight and controls of financial benchmarks published today.
Rights and Responsibilities of the Renminbi – Euromoney
China’s bid to join the currencies in the IMF’s SDR basket is more than a footnote of interest only to economists. Policymakers should take note.
Trigger for Global Shift into Renminbi – Financial Times (Subscription)
The turbulence in the Chinese stock market — where heavy support operations by the Chinese authorities seemed to be turning the tide up to this week’s renewed weakness — is an unpromising backcloth for one of Beijing’s priorities in the international economic field.
Pacific Partners May Discuss Currency Rules Along With Trade Deal – Reuters
Pacific Rim trading partners might convene a top-level forum to discuss how to stop countries manipulating currencies for competitive advantage, Australian Trade Minister Andrew Robb said on Tuesday.
Russia Halts Purchases of Foreign Currency in Boost for Easing – Bloomberg
Russia’s central bank halted purchases of foreign currency to replenish the country’s international reserves, a move that may lay the groundwork for a fifth interest-rate cut this year at a meeting on Friday.
Renminbi Accounts for Over 30 Percent of Payments Between South Africa and China – African Business Review
Recent data compiled by The Society for Worldwide Interbank Financial Telecommunication (SWIFT) shows that the number of South Africa’s payments in Renminbi (RMB) increased by 33 percent over the last 12 months and by as much 191 percent over the last two years.