U.S. banking regulators announced on Thursday they were pulling back several documents that urge banks to show caution when dabbling in cryptocurrency and related activities. The Federal Reserve said it was withdrawing a pair of supervisory letters stipulating that banks should seek advance approval from regulators before engaging in crypto-asset and stablecoin activities. In addition, […]
Gold prices rose to a two-week high on Tuesday as concerns over U.S. President Donald Trump’s tariff plans boosted interest in the safe-haven metal, while investors awaited the Federal Reserve policy meeting on Wednesday. Spot gold gained 0.9% to $3,362.69 an ounce as of 0632 GMT, after hitting its highest since April 22 earlier in […]
The United States is seeking to weaken a global deal aimed at helping developing countries struggling with the impacts of climate change and other issues, an internal United Nations document seen by Reuters showed. The Trump administration opposes draft reforms of the world’s financial system intended to help developing countries, including around taxation, credit ratings […]
Taiwan’s foreign minister will visit the U.S. state of Texas to speak at a forum on artificial intelligence (AI) and promote business and trade ties, his office said on Tuesday, as Taipei seeks to bolster investment and see off the threat of tariffs. Goods from tech powerhouse Taiwan had been due to face U.S. import […]
Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia’s ability to handle lower oil prices. The Wall Street bank expects the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to announce a […]
Oil prices rebounded over 1% on Tuesday with technical rebound and dip buying after a drop in prior session by OPEC+ decision to accelerate increases in output, although concerns about the market surplus outlook persisted. Brent crude futures rose 92 cents to $61.15 a barrel by 0309 GMT, while U.S. West Texas Intermediate crude added […]
Sweeping US tariff increases in 2025 are upending global trade. This column draws on new data and simulations to show that, even with partial suspensions, the measures are set to trigger sharp contractions in trade, significant welfare losses (especially for the US), and major disruptions to global supply chains. Direct trade between the US and […]
In the event of dysfunction in dollar funding markets, the Federal Reserve can supply liquidity through standing central bank swaps. This column considers a scenario in which the Fed declines to extend such credit. It argues that 14 major central banks hold roughly $1.9 trillion in US safe assets. They could form a dollar coalition […]
The recent surge in inflation has led to a significant increase in the frequency of price changes. This column argues that price flexibility has an impact on the effectiveness of monetary policy. In high inflation periods, frequent price changes make monetary policy more effective in reducing inflation with less impact on economic activity. Therefore, monetary […]
A growing body of research highlights the importance of mobility in the global knowledge economy, but has largely focused on high-income countries. This column addresses the crucial role of international labour mobility in fostering innovation in Africa, demonstrating that short-term visits, especially for business or professional purposes, significantly increase the likelihood of firms innovating in […]
