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The Swiss National Bank has cut its policy rate by 50 basis points to 0.50 percent, marking the fourth consecutive reduction amid decreasing inflationary pressures. Inflation remains low, projected to average 1.1 percent in 2024, while GDP growth is expected to be around 1 percent for the current year. The central bank is also monitoring the Swiss franc's exchange rate, which is favorable for exports.
The Swiss National Bank (SNB) has cut the key interest rate by 50 basis points to 0.50%, marking the fourth consecutive reduction. This decision reflects a decrease in inflationary pressure, with current inflation at 0.7% and forecasts predicting an average of 1.1% for 2024. Economic growth remains modest, with GDP expected to rise by around 1% this year.
World shares showed mixed results as investors awaited a likely interest rate cut from the European Central Bank. U.S. stock indexes rebounded, with the S&P 500 rising 0.8% and the Nasdaq composite reaching a record close above 20,000, driven by tech stocks. Meanwhile, inflation in the U.S. ticked up slightly to 2.7% in November, indicating ongoing price pressures.
Asian shares mostly rose, following a Wall Street rally, as U.S. inflation data suggested potential Federal Reserve support for the economy. The Hang Seng surged 1.4%, while the Nikkei 225 gained 1.2%. In the U.S., the S&P 500 climbed 0.8%, driven by tech stocks, despite a slight dip in the Dow.
B2TRADER, launched by B2BROKER, is a pioneering multi-asset trading platform that integrates crypto spot, Forex, CFDs, and crypto derivatives into a single account. With an investment of $8 million and 2.5 years of development, it offers brokers customizable solutions, enhanced performance, and mobile trading apps for iOS and Android. The platform aims to bridge the gap between Forex and crypto markets, supporting brokers in expanding their offerings and managing risks effectively.
UBS economists warn that a 10% US tariff on Eurozone imports could significantly hinder growth, potentially reducing GDP by 0.28 to 0.43 percentage points, depending on Europe's response. The primary impact stems from declining exports, with inflation effects varying based on retaliation. If Europe does not retaliate, inflation remains subdued; however, retaliatory measures could increase consumer prices and the GDP deflator.
On his final day as the Reserve Bank of India governor, Shaktikanta Das emphasized the transformative potential of a home-grown central bank digital currency (CBDC), the digital rupee. He highlighted India's pioneering role in CBDC development, contrasting it with the slow progress of other central banks globally. Das advised a cautious approach to implementing a system-wide CBDC, advocating for gradual introduction based on user data from pilot projects, while expressing confidence in its future role in domestic and cross-border payment systems.
The global airline industry is projected to achieve a net income of $36.6 billion in 2025, with a record 5.2 billion passengers expected to travel. This marks a 16% increase from 2024, driven by lower oil prices and rising demand, despite potential challenges from tariffs and trade wars. Profit margins are anticipated to rise to 3.6%, up from 3.3% in the previous year.
Chinese leaders have issued one of their most dovish statements in over a decade, indicating a readiness to implement necessary stimulus measures to mitigate the anticipated effects of U.S. trade tariffs on the country's economic growth in the coming year.
Investors are showing strong interest in short-term Nigerian government debt, attracted by high yields and an improved currency outlook following a successful $2.2 billion eurobond launch. The Central Bank of Nigeria sold 1.56 trillion naira ($990 million) in 365-day and 351-day bills at yields nearing 24%, significantly exceeding its initial target after a successful treasury bill auction.
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