First, full use must be made of the International Monetary Fund’s special drawing rights, a form of “global money” that the institution was authorised to create at its founding. The SDR is an essential ingredient in the international monetary order that John Maynard Keynes advocated during the Bretton Woods Conference of 1944. The idea is […]
This followed the policy of allowing foreign capital to fully own futures and life insurance companies from Jan 1. With this, foreign financial institutions can now tap into the vast Chinese market without ownership limits in sectors like banking, insurance, securities, futures and fund management.
BANGKOK (Reuters) – Thailand’s cabinet approved on Tuesday a package of economic measures worth 1.9 trillion baht ($58 billion) to alleviate the impact of the coronavirus outbreak on Southeast Asia’s second-largest economy, the finance minister said.
Consumer confidence in February hit its lowest level in nearly 21 years, according to the survey by the University of the Thai Chamber of Commerce, which on Thursday cut its forecast for economic growth this year to 0.6-1.6% from 2.8%, with a contraction in the first quarter. ($1 = 31.57 baht) (Additional reporting by Chayut […]
Firms responded to the survey between 1 April and 3, a period in which the chancellor, Rishi Sunak, loosened the criteria for a CBILS loan, banned banks from asking for personal guarantees from small businesses seeking help, and made more mid-sized companies eligible for help.
The central bank cut interest rates by a full point back to near zero and reintroduced a pledge to leave them there for the foreseeable future. It promised to buy at least $700 billion of bonds, and slashed the interest rate on its lender-of-last-resort facility for banks to just 0.25%. It also announced a coordinated […]
“In this difficult hour Europe must stand together closely. Together with (French finance minister) Bruno Le Maire, I therefore call on all euro countries not to refuse to resolve these difficult financial issues and to facilitate a good compromise – for all citizens.”
This is a different political planet from the one on which Brown spent months plotting an extra penny on national insurance for new health spending. Labour had just won a second term, the Tories languished on the cultural margins, the NHS was a slam-dunk popular cause, and still the chancellor built his case with painstaking […]
Balls, who revealed his lifelong struggle with stammering almost two years ago, told the BBC Radio 4’s Today programme: “Everybody knows with me that I have a stammer and sometimes my stammer gets the better of me in the first minute or two when I speak, especially when I’ve got the prime minister, the chancellor […]
The money system is also getting through this crisis in pretty good shape. In many developed countries, cash distributions to temporarily unemployed consumers and financially squeezed businesses mean there should be enough money in the right hands to pay for all the goods and services that can be produced. In due course, this flood of […]