October 27, 2023
United States:
Central Bank Still Weighing US Digital Dollar, Fed’s Barr Says
The Federal Reserve’s top bank watchdog said officials continue to study a potential digital dollar, and haven’t yet made a decision whether to recommend that the US central bank launch a virtual currency.
Barr reiterated Friday that the Fed wouldn’t move forward with a central bank digital currency, or CBDC, without the backing of Congress and the executive branch of the US government. He gave no timeline for a Fed decision on whether to recommend such a move.
Europe:
Russia Hikes Interest Rates Despite World’s Biggest Currency Surge
Russia’s central bank raised interest rates far more than forecast, alarmed that inflationary risks are still on the rise even after a reimposition of capital controls took pressure off the ruble.
Among the three options considered on Friday, the choice of a 2 percentage point hike represented the largest increase that was on the table, Governor Elvira Nabiullina said in Moscow. Policymakers lifted the benchmark for a fourth straight time, bringing it to 15% from 13%.
Asia:
China Industrial Profits Rise Again as Growth Stabilizes
China’s industrial companies saw profits rise in September for a second straight month, in a further sign that policy support is helping the manufacturing sector recover.
Industrial profits increased 11.9% from a year earlier, according to data published by the National Bureau of Statistics on Friday. That comes after a 17.2% surge in August, which was the first expansion in more than a year.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
