CHINA: Politburo signals shift towards policy easing – with a few exceptions
The Communist Party’s top policymaking body, the Politburo, held its quarterly meeting on the economy on 30 July. The official readout shows the leadership growing more concerned about slowing growth and shifting towards policy loosening. The shift will be gradual, however, as gr… Become a member to read the rest of this article Username […]
LATAM PULSE
This week, Peru is likely to see more political tumult after Pedro Castillo’s stormy start as president, though the belated appointment of a moderate to the finance ministry could help offset market jitters. Brazil ‘s inquiry into the government’s handling of the pandemic resumes… Become a member to read the rest of this article
PERU: Chaotic start could mean constant political crisis under Castillo
The belated addition of the former World Bank economist Pedro Francke to President Pedro Castillo’s cabinet late on 30 July represents a positive development following a tumultuous couple of days. Francke had initially balked at serving under Castillo’s pick for prime minister (P… Become a member to read the rest of this article
Argentina: The season of FX stress begins
The last 4 business days of last week the Central Bank had to sell dollars in the FX market so as not to alter the routine of daily devaluation of 3 or 4 cents. The last time it had a seller balance for 3 days in a row was at the end of last November. […]
WEEKLY POLITICAL COMPASS
China’s securities regulator has called for better communication with its US counterpart. Peru’s newly appointed Finance Minister might help calm markets. Meanwhile, India’s central bank is expected to leave key rates unchanged, Bulgaria’s parliament will vote on the new prime mi… Become a member to read the rest of this article
Minority Banks during the COVID-19 Pandemic
Sophia Friesenhahn and Simon Kwan
Regulating big techs in finance
BIS Bulletin No 45 – Regulating big techs in finance – Big tech firms entering financial services can scale up rapidly with user data from their existing business lines in e-commerce and social media, and by harnessing the inherent network effects in digital services. In addition to traditional policy concerns such as financial risks, consumer protection and operational resilience, the entry of big techs into financial services gives rise to new challenges surrounding the concentration of market power and data governance. The current framework for regulating financial services follows an activities-based approach where providers must hold licences for specific business lines. There is scope to address the new policy challenges by developing specific entity-based rules, as proposed in several key jurisdictions – notably the European Union, China and the United States.