The International Monetary Fund stated in a study released Tuesday by staff economists that more attention needs to be given to regulating the non-banking segment of the financial sector in order to protect stability as it now makes up half of the assets in the global financial system. The study is released a week prior to the semi-annual IMF and World Bank meeting in Washington, which will bring...

An additional infusion of $5.4 billion for Argentina has been authorized by the International Monetary Fund (IMF). "The Fourth Review of the Extended Fund Facility (EFF) Agreement for Argentina has been concluded," reported the IMF Executive Board.  The resolution of the board permits an immediate disbursement of $5.4 billion ($4 billion in SDRs), bringing the overall amount disbursed...

The Bank of Canada stated on Wednesday that it is ready to help if the financial system experiences extreme strain, but added that it would only provide emergency liquidity in the direst circumstances while attempting to reduce subjective risk. The Bank of Canada's quantitative tightening program will be finished by the first half of 2025, according to Deputy Governor Toni Gravelle, who made the...

The Conference Board analysis company stated that the U.S. consumer confidence index increased to 104.2 points in March from a revised 103.4 points in February. At that, the indicator was expected to fall from its initial value of 102.9 points a month earlier to 101 points, according to analysts surveyed by DailyFX. The index of economic expectations increased from a revised February level of...

John Glenn, Chief Secretary to the Treasury, referred to the British financial system as resilient in light of the Credit Suisse crisis and Silicon Valley Bank's failure. On March 10, U.S. California regulators shut down Silicon Valley Bank, one of the top 20 U.S. institutions. It was the largest insolvency instance in the US since the 2008 financial crisis. The biggest bank in Switzerland,...

According to CNPC's research center, China's oil refining is predicted to increase by 7.8 percent this year. China's crude demand may be recovering after falling last year. According to a yearly forecast published on Monday by CNPC's Economics and Technology Research Institute (ETRI), China's refineries could process 733 million tons of oil in 2023, or 14.66 million barrels per day. China's...

The G7 intends to create a legal framework to safeguard cryptocurrency owners and tighten regulation of digital assets, reports Kyodo news service. The agency notes that the proposed changes to the legal system are made against the backdrop of the global financial system's crisis.  The problem will be discussed at the G7 summit, which will take place in Hiroshima in May, according to...

According to a recent UNCTAD report, global commerce hit a record $32 trillion in 2022. Trade in commodities totaled about $25 trillion (an increase of about 10% from 2021), and trade in services totaled $7 trillion (an increase of 15% from 2021). Experts claim that the first half of the year's steady growth, which stayed modest in the second, was what led to the record numbers. Comparing the...

The main interest rate of the US Federal Reserve (Fed) was increased by 25 basis points to 4.75–5%. The interest rate rose to its greatest level since 2007, and is expected to be 5.1% on average by the end of 2023. "The committee's long-term goals are to attain maximum employment and 2% inflation," reads a statement at the official Federal Open Goals Committee website. Inflation in the USA is...