UBS CEO Sergio Ermotti is contemplating the future of the bank following its merger with Credit Suisse, emphasizing the need to adapt to technological advancements that will reshape the industry. As UBS integrates its operations, it has streamlined IT applications and is focused on maintaining liquidity in balance sheets to mitigate reputational risks exacerbated by social media. The bank is also preparing for a moderation in cost cuts as it reports third-quarter earnings.
Escalating trade tensions and tariffs between the U.S. and China could have significant global economic repercussions, according to IMF deputy managing director Gita Gopinath. She emphasized that increased protectionist measures would lower output, pressure inflation, and disrupt global supply chains, ultimately harming all parties involved. Maintaining strong U.S.-China relations is crucial for global economic stability, as unilateral actions threaten the rules-based trading system.
Extreme tariffs proposed by Donald Trump could disrupt disinflation efforts and lead to higher U.S. interest rates, according to Tim Adams, head of the Institute of International Finance. He warned that while some inflationary impacts might be absorbed in the short term, the overall economic package could exert upward pressure on prices. As Trump positions himself as a change candidate focused on protectionism, analysts express concerns about his potential isolationist policies compared to his opponent, Kamala Harris, who is expected to engage more with the global community.
Thailand's central bank recently cut interest rates, which Governor Sethaput Suthiwartnarueput described as a "recalibration" rather than the start of an easing cycle. He emphasized that the decision was made in response to tightened financial conditions in the country.
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