by Priyanka Sharma | November 20, 2024 | Banking, Banking Regulations, Central Banks, Fintech, Investment Banking, Retail Banking
The UAE has firmly established itself as a leader in the digital banking transformation sweeping across the Middle East, with the country commanding the largest share of the region’s $3.2 trillion in banking assets. A new report from Arthur D. Little (ADL)...
by Jibran Munaf | November 19, 2024 | Central Banks, Technology
The Reserve Bank of India (RBI) plans to introduce a locally-operated cloud service for financial institutions in 2025, marking a bold move to challenge global tech giants like Amazon Web Services, Microsoft Azure, and Google Cloud. The pilot program, developed in...
by Jibran Munaf | November 8, 2024 | Central Banks
The Bank of England (BoE) has lowered interest rates by 25 basis points to 4.75%, signaling confidence that UK inflation is now close to the central bank’s 2% target. This marks the BoE’s second rate cut of 2024, following its initial move to ease rates in...
by Jibran Munaf | November 8, 2024 | Central Banks
The Central Bank of the UAE (CBUAE) announced a 25 basis point reduction in its overnight deposit facility (ODF) rate, bringing it down from 4.90% to 4.65%, effective Friday, November 8. This adjustment comes in response to the U.S. Federal Reserve’s recent decision...
by Jibran Munaf | November 5, 2024 | Central Banks, Finance, US Elections 2024
The Federal Reserve and Chairman Jerome Powell are steering clear of political debates as the nation votes, but much is at stake for the central bank’s future. With the next president gaining the authority to fill multiple Fed seats and Powell’s term...
by Jibran Munaf | October 25, 2024 | Central Banks, Economy
On Friday, Russia’s central bank implemented a significant interest rate hike, increasing its key rate by 200 basis points to 21% to counter inflationary pressures that exceeded earlier projections. The latest hike follows a prior increase to 19% in September, with...
