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Britain's Prudential Regulation Authority has proposed increasing the deposit protection limit for savers from £85,000 to £110,000 in the event of a bank failure. This change aims to enhance financial security for consumers, reflecting the evolving economic landscape. The current limit has been in place since 2017.
Deutsche Bank warns that the Federal Reserve's potential withdrawal of its liquidity backstop could jeopardize the dollar's status as a reserve currency, marking the most significant risk since World War II. Concerns about the reliability of Fed swap lines may prompt global de-dollarization, especially among Western allies, as countries like China and Russia continue to reduce their reliance on the US financial system. The Fed's role as the world's lender of last resort is crucial, and any hesitation to provide liquidity could lead to increased demand for dollars and destabilize US asset markets.
Deutsche Bank warns that the Federal Reserve's potential withdrawal of its liquidity backstop could jeopardize the dollar's status as a reserve currency, marking a significant risk since World War II. Informal discussions among European officials suggest concerns over the reliability of Fed swap lines, which allow global institutions to borrow dollars during financial stress. Such fears could drive a shift towards de-dollarisation among America's Western allies, especially if the Trump administration influences the Fed's actions.
Mark Carney, newly sworn in as Canada’s 24th prime minister, will run for a seat in Nepean as he triggers an early election amid a trade war with the U.S. and rising Canadian nationalism. His main challenger, Conservative leader Pierre Poilievre, faces a shifting political landscape influenced by U.S. President Trump's threats. The election, set for April 28, will determine control of the House of Commons and the future direction of Canadian politics.
Mark Carney, newly sworn in as Canada’s 24th prime minister, will run for a seat in Nepean as the Liberal Party faces a challenging election amid a trade war with the U.S. and rising Canadian nationalism. His main opponent, Conservative leader Pierre Poilievre, aims to capitalize on discontent with the previous administration. The election, set for April 28, will determine control of the House of Commons and the future direction of Canadian politics.
The Bank of England's recent hold on interest rates led to a slight hawkish repricing in the sterling curve, with only one member opposing the decision. Despite expectations of three rate cuts this year, data uncertainty looms due to upcoming corporate tax hikes and US tariffs, raising concerns about growth and inflation. The outlook for GBP remains cautious, with a preference for trading GBP weakness through Cable rather than EUR/GBP.
U.K. inflation expectations are rising, with Deutsche Bank forecasting they will remain elevated through 2025, driven by increases in food and energy prices. The Bank of England's data shows short-term expectations at 3.9%, prompting concerns about second-round effects on the economy. While rate cuts are anticipated, the MPC may pause if inflation continues to climb, particularly as it assesses 2026 pay settlements.
South Korea's early March export data showed recovery from lunar new year distortions, driven by ships and chips, though consumer sectors lagged. In the US, job losses linked to trade taxes are reported, raising concerns about potential economic impacts if unemployment fears grow. Meanwhile, Japan's February consumer price data indicated slower inflation, and the Bank of England's Governor highlighted economic uncertainty, with the ONS suspending producer price data due to reliability issues.
Europe's economic outlook remains cautious despite recent fiscal activism, with minimal changes to growth forecasts for 2025. The looming trade war and potential tariffs from the U.S. overshadow any government budget boosts, while rising bond yields may lead to austerity measures that could negatively impact growth. Despite these challenges, the job market and consumer spending show promise, but confidence remains key for sustained recovery.
Central banks are in focus today, with the Bank of England expected to maintain its rate at 4.50%, while the Swiss National Bank may cut its rate to 0.25%. The Riksbank is anticipated to hold steady at 2.25%, with a dovish outlook possible. In the US, the Fed's recent meeting resulted in unchanged rates, leading to lower rates and a weaker USD, while global equities rose, particularly in the US.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UK regulator proposes increase in bank deposit protection limit to 110000 pounds
11:15 31.03.2025
fears over fed backstop could undermine dollar's reserve currency status
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17:21 27.03.2025
fed backstop concerns could jeopardize dollar's reserve currency status
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17:02 27.03.2025
canadian election campaign intensifies amid trade tensions with united states
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13:14 23.03.2025
canadian prime minister carney faces election amid trade tensions with trump
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13:14 23.03.2025
bank of england holds rates amid economic uncertainty and inflation concerns
12:16 21.03.2025
deutsche bank forecasts rising uk inflation expectations through 2025
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11:45 21.03.2025
global trade faces uncertainty as tariffs impact job markets and prices
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09:57 21.03.2025
european optimism tempered by trade war concerns and economic uncertainties
01:00 21.03.2025
central banks maintain rates as markets react to economic signals
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07:45 20.03.2025
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