Synopsis Formulating monetary policy has become more challenging in the current environment because of data lags and also frequent reviews, Patra said. “On the basis of data one month and three months ago, I will have to assess what inflation and growth are going to be one year down the line,” he said, adding that […]
Day: November 24, 2022
Another 75 basis point hike as Reserve Bank seeks to tame ‘inflation monster’
The South African Reserve Bank’s monetary policy committee (MPC) has lifted the repo rate by another 75 basis points, marking the sixth consecutive hike in a year. Two of the five committee members preferred a lower 50 basis point hike. The repo rate, which affects the cost of borrowing, now stands at 7%, higher than […]
UK bank Starling bans crypto-related purchases and deposits citing high risk
Starling has banned its customers from purchasing cryptocurrencies with their bank cards or receiving transfers from crypto merchants. 3666 Total views 19 Total shares Starling — a digital bank based in the United Kingdom — is the latest financial institution to ban crypto-related transfers and activities for its cardholders. Starling customers will no longer be […]
UAE regulator revokes FTX license amid the exchange collapse
Dubai regulators noted that no clients were exposed, as FTX MENA was still in the preparation phase before getting fully approved to operate. 3494 Total views 124 Total shares As the FTX debacle still creates waves in the crypto industry and beyond, the Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license that allows […]