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Attachment 37704
U.S. economic activity expanded modestly from October through mid-November, according to the Federal Reserve's Beige Book. The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted economic growth continued at a similar pace to the prior reporting period.
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Attachment 37876
After three consecutive interest rate cuts, the Federal Reserve on Wednesday announced its widely expected decision to leave rates unchanged. The Fed said its Federal Open Market Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent on the heels of three straight quarter-point reductions.
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This should be the year of the three Big Es--earnings, the economy and the election.
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Australia’s dispute resolution authority, the Australian Financial Complaints Authority (AFCA), has confirmed its support for an industry-funded compensation scheme called the “Compensation Scheme of Last Resort” (CLSR). Furthermore, AFCA insists that the new scheme should have coverage across all financial services.
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Attachment 38503
Partly reflecting sharp increases in the Midwest and West, the Commerce Department released a report on Wednesday showing new home sales in the U.S. jumped to their highest level in over twelve years in the month of January. The report said new home sales spiked by 7.9 percent to an annual rate of 764,000 in January.
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Attachment 38588
Even with the next monetary policy meeting just two weeks away, the Federal Reserve announced a surprise move to enact an emergency interest rate cut on Tuesday in response to the economic risks posed by the coronavirus outbreak. The Fed announced that it has decided to lower the target range for the federal funds rate by 50 basis points to 1 to 1-1/4 percent.
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Attachment 38664
The Bank of England unexpectedly cut its key interest rate and launched a new funding scheme for small businesses as it expects the UK economy to take a major hit due to the coronavirus, or Covid-19, outbreak. The Monetary Policy Committee unanimously voted to cut the bank rate by 50 basis points to a record low 0.25 percent, following a special meeting on March 10, the central bank said.
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Citing the tremendous hardship being caused by the coronavirus pandemic, the Federal Reserve on Monday announced extensive new measures to support the economy. The Fed said it is committed to using its full range of tools to support households, businesses, and the U.S. economy overall in this challenging time.
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The dire warning comes after global cases of coronavirus recently surged above 1 million.
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The government of Hong Kong has decided to enhance its regulatory oversight of digital assets by boosting its Financial Action Task Force (FATF)-recommended anti-money laundering (AML) and counter-terrorist financing (CTF) compliances.
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