{
Central Bank Actions

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Raiffeisen Bank reduces Russian exposure by 25 percent amid ECB pressure
Raiffeisen Bank International AG has reduced its Russian loan and deposit volumes by approximately 25% in Q3 2024, following a directive from the European Central Bank (ECB). Loans to Russian customers now stand at €4.5 billion, while deposits have decreased to €11 billion. This decision comes after unsuccessful attempts to sell the unit amid sanctions and regulatory hurdles, with a Russian court recently freezing the unit"s shares, complicating the exit strategy.
@TeleTraderNews
Euro Russian Ruble Raiffeisen Bank International AG RUS AUT
TradFi, News Article
08:00 30.10.2024
Ariège council establishes reserve to tackle future budgetary challenges
The Ariège departmental council has established an 8 million euro reserve to navigate anticipated financial challenges due to a government revenue reduction for local authorities. Key decisions include postponing 5 million euros in investments, allocating 2.1 million euros for secondary schools, and dedicating 2.6 million euros for the reconstruction of the Ehpad Jules Rousse.
ladepeche.fr
Euro EHPAD JULES ROUSSE FRA Christine Téqui
Finance & Economy, News Article
07:01 30.10.2024
Raiffeisen Bank reduces Russian loans and deposits amid ECB pressure
Raiffeisen Bank International AG has reduced its Russian loans and deposits by approximately 25% following pressure from the European Central Bank. Loans to Russian customers decreased by about 23% to under €4.5 billion, while customer deposits fell by 25% to around €11 billion.
Bloomberg.com
United States Dollar Euro Raiffeisen Bank International AG RUS AUT
TradFi, Market Report
19:45 29.10.2024
Tunisia projects 2025 budget deficit of 9.8 billion dinars
Tunisia's 2025 budget reveals a projected deficit of 9.8 billion dinars, with revenues estimated at 50.028 billion dinars against expenditures of 59.828 billion dinars. Key revenue sources include tax revenues of 45.249 billion dinars, while state expenditure focuses on strategic economic and social development sectors. The budget also allows for Treasury loans of up to 330 million dinars and guarantees totaling 8 billion dinars to support public establishments.
Leconomiste Maghrebin
Tunisian Dinar Apple Inc. TUN
Finance & Economy, Market Report
15:39 29.10.2024
ubs predicts gold prices will reach 2850 by mid 2025
UBS forecasts gold prices to reach $2850 by mid-2025, citing ongoing benefits from rate cuts, including a projected 100 basis points in 2024 and another 100 in 2025. Additionally, global rate cuts and potential political shifts, such as a Trump election win, may support gold's value.
Forexlive | Forex News, Technical Analysis & Trading Tools
Canadian Dollar Chinese Yuan Euro United States Dollar UBS AG
TradFi, Market Report
23:23 28.10.2024
currencies rally as euro yen and dollar yen gain momentum
EUR/JPY and USD/JPY continue to rally ahead of the Bank of Japan's interest rate decision, with EUR/JPY targeting the ¥167.33-¥168.01 resistance zone after surpassing the previous range. Meanwhile, AUD/USD has dropped to its $0.6580-58 support zone, which is expected to hold this week.
IG
Australian Dollar Euro United States Dollar Japanese Yen
TradFi, Market Report
22:49 28.10.2024
Swiss National Bank poised for significant profit distribution to government and cantons
The Swiss National Bank (SNB) is poised to distribute profits to the federal government and cantons, with UBS economists predicting a profit of 5 to 10 billion for the third quarter, adding to the 57 billion already earned this year. However, future distributions may be limited due to a provisioning rule and ongoing geopolitical uncertainties.
20 Minuten
Swiss Franc United States Dollar UBS AG CHE
TradFi, Market Report
15:28 28.10.2024
bonds remain appealing as interest rates are set to decline
Philip Petursson, chief investment strategist at IG Wealth Management, believes that fixed income investments will remain appealing as the Bank of Canada is anticipated to continue lowering interest rates over the next six months. This outlook suggests a favorable environment for bonds in the coming years.
facebook.com/FinancialPost/
United States Dollar IG Wealth Management CAN Philip Petursson
TradFi, Market Report
15:21 28.10.2024
wiss national bank poised for significant profits amid market volatility
The Swiss National Bank (SNB) is projected to report a net profit of CHF 5 to 10 billion for Q3, following a CHF 55 billion profit in the first half of the year. This could bring total earnings for the first nine months to between CHF 60 and 65 billion, allowing for potential payments to cantons and the Confederation by year-end.However, market volatility due to the U.S. presidential election and Middle East conflicts may impact fourth-quarter performance. In 2023, the SNB recorded a loss of CHF 3.2 billion, which, along with a negative reserve of CHF 39.5 billion, hindered contributions to public authorities.
lemanbleu.ch
Swiss Franc United States Dollar UBS CHE Show more
TradFi, Market Report
15:18 28.10.2024
Swiss National Bank poised for significant profits and potential distributions
The Swiss National Bank (SNB) is projected to report a profit of CHF 5 to 10 billion for Q3 2024, driven by strong bond and equity markets and rising gold prices, despite losses from currency movements. With a total profit expected to reach around CHF 70 billion by the end of October, distributions to the Confederation and cantons appear likely. However, long-term distributions may be constrained by current provisioning rules and market volatility.
Tages-Anzeiger
Swiss Franc United States Dollar UBS AG CHE
TradFi, Market Report
14:41 28.10.2024
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