Janet Yellen, the U.S. Treasury Secretary, will urge the World Bank on Wednesday to implement further reforms this year to enhance its capability to assist developing nations in tackling global issues like climate change. On Wednesday, Janet Yellen is leading discussions with global financial officials to explore methods for the World Bank and other multilateral…
According to two sources with knowledge of the matter, the executive board of the World Bank will conduct a formal interview with Ajay Banga, who has been nominated by the United States to succeed David Malpass as the president of the multilateral development bank. The interview is scheduled to take place in early May. Sources,…
Analysts predict that the Bank of Canada will maintain its current interest rates on Wednesday due to cooling inflation and stress in the global banking system, despite the acceleration of growth in the first quarter. Last month, Governor Tiff Macklem announced that the Bank of Canada would pause its tightening campaign, leaving the benchmark rate…
Data released on Tuesday indicated that Credit Suisse Group AG (NYSE: CS) has repaid a portion of the emergency liquidity provided by the Swiss National Bank (SNB), which suggests that the liquidity crisis that led to the bank’s decline is subsiding. According to data published by the central bank, sight deposits, which refer to cash…
The International Monetary Fund (IMF) stated on Tuesday that the global economy is cooling and facing multiple risks, including the volatile banking sector, high inflation, and rising interest rates. According to the latest World Economic Outlook report from the IMF, total economic output is expected to rise by 2.8% this year, representing a deceleration from…
The IMF has issued a warning that the global economy could face a “hard landing” if inflation persists and leads to extended periods of high interest rates, thereby increasing financial risks. In its latest World Economic Outlook published on Tuesday, the IMF kept its overall economic forecasts largely the same as those from January. However,…
This year, low-income countries will be hit with their largest bills for foreign debt servicing in 25 years due to higher interest rates. As a result, their spending on crucial areas such as health and education is in danger of being compromised. According to a study that will be published in the coming days by…
Last month’s price increases are anticipated to have further subsided, according to an inflation measure closely monitored by the government. According to Bloomberg estimates, March’s Consumer Price Index (CPI) is anticipated to be 5.2%, reflecting a deceleration from the 6% annual gain observed in February. The CPI is scheduled to be released on Wednesday. While…
Wall Street banks are anticipated to report reduced quarterly earnings and a gloomy outlook for the rest of the year due to the negative effects of last month’s regional bank crisis and a slowing economy on their profitability. According to a Reuters’ report, the earnings per share for the six largest U.S. banks are projected…
US investors and fund managers are expanding their investments in international stock markets as concerns about a potential economic slowdown and increasing interest rates have put an end to over a decade of domestic market dominance. Since the financial crisis, US stocks have significantly outperformed most developed and emerging markets. However, this trend began to…