Africa’s development banks are being undermined: the continent will pay the price: Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB). These creditors, in effect, are demanding that the two countries prioritise repayments to …
Kenya has tightened its laws to stop money laundering: why banks are the focus: Kenya’s banking industry has in recent years been in the crosshairs of national, regional and international watchdogs, given the country’s role as a financial hub in eastern Africa. In 2023 Kenya enacted laws to curb money laundering and combat terrorism financing. …
Central banks should be fighting the climate crisis – here’s why: Climate finance was a major focus at the recent COP28 summit, but one set of game-changing institutions remains largely missing in such conversations: central banks. Central banks are public institutions, charged with maintaining economic stability through controlling the supply of money in an economy. …
Interest rates: if central banks don’t start cutting them soon, it could actually increase inflation: Another reason to be fearful. Golden Dayz What next for interest rates? The Bank of England’s Monetary Policy Committee (MPC) is widely expected to leave them unchanged when it meets on November 2, despite the fact that UK headline inflation …
Why central banks should stop raising interest rates: Mortgage borrowers breathed a sign of relief following a recent pause in the Bank of England’s 14-month campaign of base rate hikes. Led by the US Federal Reserve, many of the world’s major central banks, including the European Central Bank (ECB) and the Bank of England, have …
City watchdog finds no evidence for recent political ‘debanking’ – but private banks have been picky for centuries: Ex-politician Nigel Farage accused his bank of refusing his business because of his political views. Frank 2012/Shutterstock After a row over the closure of his bank account earlier this year, former politician Nigel Farage has hit out …
Central banks say interest rates will stay high but it’s unclear if this will be enough to curb inflation: Central bankers, policymakers and academics meet annually at Jackson Hole, Wyoming to discuss the economy. Sarah Hollemans/Shutterstock The US central bank, the Federal Reserve, has recently signalled that it will keep interest rates high for as …
How community markets for all could be a sustainable alternative to food banks: Troyan/Shutterstock The number of people using food banks in the UK has increased from 26,000 in 2008-09 to more than 100 times that in 2023. Nearly one in five British households experienced moderate to severe food insecurity in September 2022. In the …
Why banks once flocked to Canary Wharf’s high-tech superstructures, but are now starting to return to the City: Canary Wharf, London. IR Stone/Shutterstock HSBC is moving its UK headquarters from Canary Wharf back into the City of London as it adjusts to the impact of hybrid work on its office space needs. This could signal …
Exploring the Features and Performance of Romoss Power Banks: Power banks have become a necessity in today’s fast-paced world. People rely heavily on their smartphones and other gadgets to stay connected, and having a reliable power source for these devices is crucial. With so many power bank brands available in the market, it can be …
What central banks are doing to safeguard financial stability and why they must proceed with caution: Trying to maintain some stability. David Gyung/Shutterstock Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major …
When banks go bust: the four factors at play – trust, confidence, contagion and systemic risk: Shutterstock Banks are in the news again. Two bank failures in the US, and the forced takeover of Credit Suisse by UBS in Switzerland, have triggered the worst turmoil in the banking sector since the 2008 financial crisis. There’s …
How changing banks’ corporate social responsibility reporting could prevent future financial failures: A company's internal structure can provide protection from external events. Andrey_Popov/Shutterstock The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The …
Why central banks are too powerful and have created our inflation crisis – by the banking expert who pioneered quantitative easing: Iurii Motov/Shutterstock Fifty years ago, a war broke out in the Middle East which resulted in a global oil embargo and a dramatic spike in energy prices. The war, between Israel and an Arab …
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Why businesses, banks and society still need more women in executive roles: shutterstock Only nine in the UK’s top 100 companies have a woman CEO, a recent report has revealed – part of an “appalling” picture of British business which even in 2022 remains remarkably male dominated. The report, from accountancy giant EY and Cranfield …
Young people in poorer places are often failed by banks – here’s what needs to change: Entrepreneurs need more support. Shutterstock/Kehinde Olufemi Akinbo As the global population grows, it has been estimated that by 2030 the world will need more than 600 million new jobs. Many of these will be required in developing countries, where …
Nobel economics prize: insights into financial contagion changed how central banks react during a crisis: Left to right: Ben Bernanke, Douglas Diamond and Philip Dybvig. The Nobel Foundation This year’s Nobel prize in economics, known as the Sveriges Riksbank Prize in Economic Sciences, has gone to Douglas Diamond, Philip Dybvig and former Federal Reserve Chair …