Boris Johnson believes that he “has the numbers” to ram his deal through the Commons by the end of the week, although the EU is preparing to delay Brexit until February if he fails.
- France Demands Prompt ‘Yes or No’ from Britain Amid Growing Calls for EU to Block Another Extension –Daily Telegraph
- Investors Braced for Sterling Volatility – Financial Times
The UK Parliament’s decision to postpone a final vote on the country’s exit from the European Union marks the latest geopolitical development likely to swing financial markets, highlighting the extreme levels of uncertainty that some investors worry isn’t being properly accounted for.
China’s policy makers are preparing for two key policy meetings in the coming weeks with fresh evidence that sooner rather than later, the number for gross domestic product growth will start with a 5.
Publicly, finance ministers and central bank governors have held off on raising fears that a global recession is coming – but in private, international and national officials are not nearly so certain.
- World Economy Chiefs Flirt with the Idea of Fiscal Stimulus – Bloomberg
- Global Economic Headwinds Seen in Japan and Korea’s Export Slump – Bloomberg
The European Union needs looser budgetary policies and an overhaul of its fiscal rulebook, the bloc’s designated economics commissioner said.
People’s Bank of China Governor Yi Gang said the yuan is at an “appropriate level” and cross-border capital flows have stayed balanced since the currency weakened past 7 per dollar in early August.
Japan’s exports contracted for a 10th straight month in September, raising speculation the central bank could ease monetary policy as soon as next week to counter heightening overseas risks and a slowdown in demand.
Incoming European Central Bank President Christine Lagarde said President Donald Trump’s trade war with China has dented global economic growth, and he could lift that burden.
- Draghi’s ECB Tenure: Saving the Euro, Faltering on Inflation – Financial Times
- A Quiet Exit for Draghi? Five Questions for the ECB – Reuters
FX volatility, quantum computing and further potential problems with last look are on the agenda for this week’s podcast.
An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed.
Banking reforms brought in after the financial crisis have made it more expensive for non-US banks to access dollar funding via derivatives, especially at quarter-end, analysis by the International Monetary Fund shows.
Those of us of an older vintage will remember when the Bank of Japan introduced the zero interest rate policy in 1999 and back then it was seen as revolutionary, but also as a temporary move to help restore the fortunes of the Japanese economy.
Miranda Morad, MarketAxess’ general counsel for Europe and Asia, talks to Law360 about the changing relationship between legal and compliance, the different career routes available to attorneys seeking senior positions, and the burgeoning role of technology in her sector.
Facebook Inc, facing growing scepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially proposed.
Count the chief of the biggest U.S. bank among doubters of Facebook Inc.’s effort to create a cryptocurrency. “It was a neat idea that’ll never happen,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said on a panel at a conference hosted by the Institute of International Finance in Washington.
The G7 report into the impact of global stablecoins was published, and by and large it’s a very sensible account of the challenges and opportunities in the sector.
What central banks once sneered at, they’re now scrambling to master
In a matter of hours, the 18 millionth bitcoin will have been mined and the world’s first cryptocurrency will draw one step closer to its hard-coded cap of 21 million coins.
Thomson Reuters has begun the search for a chief executive to succeed Jim Smith, who has led the $34bn professional information group since 2012.
The London Stock Exchange has revealed a series of management changes as it prepares to integrate the US data company Refinitiv, with the bourse prioritising completion of the $27bn acquisition next year.
What did we learn from the avalanche of big US bank earnings this week? That the industry can take a hard punch — from interest rates falling to historic lows — and remain up on its feet.
Deutsche Bank has exited the prime space, creating opportunity for Morgan Stanley and rivals.
UBS Group is cutting about 40 jobs in the Asia-Pacific as part of a global push to trim costs and combine its trading units, according to a person familiar with the matter.
Chris Rokos, the former star trader who made headlines when he broke away from Brevan Howard seven years ago, is shaking up the way his firm manages its $9.2bn in assets as performance lags some of its nearest rivals.
Sterling slipped early on Monday after a Commons defeat at the weekend left Boris Johnson scrambling to push through his Brexit deal over the next few days.
Mario Draghi gives his final performance as president of the European Central Bank on Thursday amid open divisions over the future path of monetary policy.
Emerging-market currencies are winning fans again as the dollar wobbles, but their resilience will be tested during what’s shaping up to be a pivotal week.
The current challenging global economic conditions demand broad macroeconomic policy actions in the euro zone and not just monetary policy actions, ECB Governing Council member Bostjan Vasle said.