The Bank of Korea (BOK) chose to keep its benchmark interest rates stable at 3.5% for the third straight meeting on Thursday, disregarding market predictions and emphasizing its concern over enduring inflation, thereby hinting at a possible future increase. The decision to hold the seven-day repurchase rate steady was unanimously foreseen by 17 economists surveyed…
In a crucial attempt to avoid an impending financial disaster, the White House and Republican congressional representatives are slated to reconvene today to strike a deal on lifting the government’s $31.4 trillion debt ceiling. Time is running out, with a financially catastrophic default looming a mere week away if a consensus isn’t reached. These deliberations…
The US economy is experiencing its fastest pace of growth since April 2022, according to the latest data from S&P Global. The flash US composite Purchasing Managers’ Index (PMI), which measures activity in both the services and manufacturing sectors, reached 54.5 in May, surpassing economists’ expectations of 53.0. This notable increase marks a 13-month high…
Following Russia’s invasion of Ukraine, President Vladimir Putin has taken a more militaristic approach to his country’s economy. As part of this strategy, the Bank of Russia, led by Governor Elvira Nabiullina, has appointed decorated military officer Sergey Belov as Deputy Governor to oversee the central bank’s field institutions. Belov’s role includes managing the allocation…
In a move that solidifies the deepening alliance between Russia and China amid international criticism and Western sanctions, Russian Prime Minister Mikhail Mishustin has signed multiple agreements with Chinese counterparts during his recent visit to Beijing. This visit, hailed as a demonstration of the unprecedented strength in bilateral relations, comes at a time when the…
In a recent raid within Russia’s borders, a surprising claim emerged: the use of American military vehicles, as reported by the Financial Times. This claim was made by Denis Nikitin, the head of a far-right militia known as the Russian Volunteer Corps, leading to an intriguing and potentially inflammatory series of events that tie together…
On Wednesday, German authorities executed an extensive operation, spanning 15 property raids across the country, as they aimed to untangle the financial web supporting the Last Generation climate activist group. The group’s relentless protest campaign, often veering into disruptive and contentious methods, has increasingly captured the attention of authorities and the public. Prosecutors in Munich…
In a major development in the crypto-regulation landscape, the International Organization of Securities Commissions (IOSCO) today publicized a report detailing policy recommendations for global cryptocurrency regulation, soliciting public input. These proposals come amid a growing chorus for a comprehensive regulatory framework for the highly volatile crypto market. As part of the public consultation process, the…
The U.S. Federal Reserve (Fed) is grappling with a complex predicament as it endeavors to strike a balance between potential harmful consequences of interest rate increases on financial institutions and the immediate necessity to tackle soaring inflation, which is at its highest in several years. The outcome of this decision will greatly influence whether the…
In a shocking incident on Monday night, an unidentified individual purposely drove a U-Haul truck into a security barrier at Lafayette Square, a well-known park located directly across from the White House. The suspect has been taken into custody and now faces a range of charges, including threats against government officials, assault with a dangerous…