Trade Markets EU’s Post

While the Bank of Canada's decision to scale back its digital currency development caught many by surprise, Anwar Sheluchin and I argue in an op-ed published in the Toronto Star Business section that this pause shouldn't mean stopping the conversation. In fact, now is the perfect time to focus on public discourse and engagement around this and other topics. Whether or not Canada ultimately adopts a digital Canadian dollar, Canadians deserve to understand the implications of #transformative #technologies and be more involved. Key takeaways from our piece: ➤Informed public dialogue is crucial for future decision-making ➤The Bank of Canada's communication approach should be improved Link in the first comment. #PublicEngagement #CBDC #PaymentSystems #PublicPolicy #FinTech #Centralbankdigitalcurrency #digitaldollar #digitalCanadiandollar #CanadianBanking #publicinvolvement

Bank of Canada Paper Highlights Potential of CBDCs to Replace Cash. Do you think digital currencies should fully replace cash, or is there still a need for physical money in our economy? #DigiMaaya #CBDC #BankOfCanada #DigitalCurrency #Fintech

Glad I could share some thoughts on the importance of supply chain resilience and trade with the Governor of the Bank if Canada

#Saving across borders more popular 👏 It is our vision to break barriers, to connect savers and banks across borders - and our growth proves us right. A new analysis by Matthias Rumpf for the ECB Blog now indicates a bigger trend that our growth might be part of: cross-border saving is on the rise in Europe. 💡 Since the beginning of 2020, the volume of household deposits deposited in other eurozone countries has increased from a total of €95bn to €151bn in August 2024. This equals an increase from 1.2% to 1.6% of all private household deposits with euro area banks. ⬆️ Examining the amount of cross-border household deposits held per country, Germany led with nearly €51.5bn at the end of Q1 2024, followed by France with €15.8bn and the Netherlands with €13.7bn. Germany, the Netherlands, and Cyprus also posted the highest growth rates: between April 2022 and April 2024, Germany recorded an increase of 44%, Cyprus 46% and Dutch cross-border household deposits even doubled. 📈 Now, let’s work together on the next billions. 🚀

Germans and Irish are fixed-term deposit champions! 🎉 It's been two years since the European Central Bank set off an interest rate rally after a long period of "free money". Reason enough to have a look at how deposits with agreed maturity, i.e. fixed-term #deposits, have developed over the last 24 months. 🔎 ►In the eurozone overall, fixed-term deposit volumes rose by almost 83% between June 2022 and June 2024. This corresponds to an increase of around €860bn to a new record of €1.9tn. ►The winner in this comparison is Ireland with a more than threefold increase. However, in view of the relatively low total volume – €11bn – this top position comes with an asterisk. ►In Germany, over the last two years, the volume of deposits with agreed maturity rose by more than 162% to a total of €685bn. This also marks an all-time high, exceeding the previous record of around €500bn significantly. 📈 ►Bringing up the rear in this comparison is France, where an increase of only 22%, around €80bn, was recorded – probably also due to the popularity of the subsidized Livret A that falls into a different data category. A bit better than France, but still below the eurozone average were the Netherlands and Austria with a plus of 53% and 42% respectively. 👉 In summary, #savers across Europe reacted to higher interest rates and moved money into fixed-term deposits. However, the increases in volume varied strongly with some markets seeing their volumes more than, while others recorded lower but still significant increases. 👈

5 Major Interest Rate Decisions Today Swiss National Bank (Switzerland)  Norges Bank (Norway)  TCMB (Turkey) Bank of England (The UK) Banxico (Mexico) Mexico is the only country where a change is expected. Banxico is expected to start its easing cycle, cutting its rate by 25bps to 11%. 

#TravelTips #CurrencyExchange #CanadianTravelers Hey everyone! So, here's a situation some relatives of mine are facing. They’re planning a trip to the States during the holidays to visit family, but they’re hitting some bumps in the road with currency exchange. 🛫💵 Right now, the exchange rate is around 0.71 CAD for 1 USD. However, when they went to TD Bank, they discovered that they had to cough up $1454 CAD just to get $1000 USD! 😱 That’s about a 45% markup, which really surprised them. It got me thinking—are there better ways to convert currency that might get them closer to that actual exchange rate? 💭 The Bank of Montreal seems to offer the same rates, which isn’t ideal either. Here are a few pain points that often come up with currency exchange: High Fees: Banks typically charge hefty fees that can make your money go further. Unfavorable Rates: The exchange rates banks provide are often lower than what you’ll find on the open market. Lack of Transparency: It can... Canadians Traveling to the US: How Do You Get Better Exchange Rates? Answers: https://lnkd.in/gqjh3wkn

Out of all the world’s businesses, surely few can have triumphed so dramatically from a historic campaign of interest rate hikes as Ireland’s pillar banks. AIB, Bank of Ireland and PTSB lean very heavily on interest rate income, far more so than their peers across the eurozone. So their top lines – and, bottom, by extension – have been reshaped entirely by the European Central Bank’s campaign of monetary tightening. Read the full story here: https://lnkd.in/efpPPxc5 #BusinessPost #Ireland #Banking

The interbank rates declined as a sign of liquidity shone brightly in the money market. The financial system liquidity pressure eased for the first time this week despite the absence of significant inflows. Series of auction sales and bank demand for funding were identified as major impediments to liquidity boost in the financial system. The Central Bank has recently conducted Treasury and OMO bill auctions, which were debited against the liquidity balance in the system. https://lnkd.in/gy7GYzuP #interbankrates

*Foreign Exchange* In Thursday’s session, the Kwacha resumed its weakening trend against the U.S. Dollar after briefly showing signs of resilience. It opened at interbank bid/offer levels of USD/ZMW 26.4790/26.5290 and ended slightly lower at USD/ZMW 26.5037/26.5537. Retail market activity closed at an average of USD/ZMW 26.4117/26.8175, with some interbank players quoting as high as K26.97 per dollar. Liquidity remained patchy from both the interbank and corporate segments, while buyers exhibited caution at levels above K26.80 per dollar. Market direction will largely depend on the actions of key participants at these elevated prices. *Money Market* Liquidity in the money market remained stable, with banks' aggregate current account balances closing at K5.01 billion, a modest increase from K4.95 billion in the prior session. Interbank transaction volumes inched up slightly to K310 million, compared to K250 million previously. The overnight interbank lending rate softened to 13%, down from 13.50%, reflecting some easing in market conditions, though accessing liquidity on the interbank market remained challenging.