Top Headlines
IMF Report: Exchange Rates Still Matter for Trade – Profit & Loss Exchange rate movements still have sizable effects on exports and imports, according to new research from the International Monetary Fund (IMF).
EU Watchdog Finalizes Biggest Securities Reform in a Decade – Reuters More light on bond markets, caps on “dark pool” or anonymous share trading, and limits on commodity holdings were the objectives of reforms put forward by European Union regulators on Monday to improve transparency for investors.
BoE Seeks Libor Alternatives, Sonia Administration – FOW (subscription) The Bank of England’s Risk-Free Rate Working Group plans to meet in mid-October to discuss alternatives for the London Interbank Offered Rate. Meanwhile, the central bank is striving to take on administration of the Sterling Overnight Interbank Average.
Rajan Cuts India Rate More Than Expected to Four-Year Low – Bloomberg India’s central bank lowered interest rates more than expected to bolster the economy as China’s slowdown threatens global growth and a commodity rout contains inflation.
PBOC Drains Net CNY10 Bln This Week Despite Holiday – Market News Int The People’s Bank of China injected CNY40 billion via 14-day reverse repos Tuesday resulting in a net drain of CNY10 billion for the week.
Forex Scandal Drives Shift to Algo Trading – Wall Street Journal (subscription) Banks are increasingly turning to computer programs to carry out foreign exchange trades. |
