Two Federal Reserve officials said that the central bank will likely need to raise interest rates above 5% before pausing and holding for some time. San Francisco Fed President Mary Daly, said she expects the central bank to raise interest rates to somewhere above 5%. Raphael Bostic, president of the Atlanta Fed, said the Fed was committed to tackling high inflation and this warrants raising interest rates into a 5% to 5.25%.
Bank of England Chief Economist Huw Pill signalled UK inflationary pressures may be easing as the labor market weakens and the economy heads into recession.
The Securities and Exchange Board of India (Sebi), in a circular issued on Monday, clarified that all payment mechanisms provided by banks and payment aggregators authorised by the RBI to be used for settlement of trades executed on the Request for Quote or RFQ platform.
January 10, 2023