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December RBA rate on the cards after soft quarterly inflation data
The chances of a December interest rate cut from the Reserve Bank of Australian increased on Wednesday after quarterly inflation data for the Australian economy came in weaker-than-expected. Third fiscal quarter CPI inflation came in at just 0.5 percent, missing the 0.6 increase that economists had been forecasting. The latest inflation data from July through[…]
Digital currencies soar after China’s bullish blockchain comments
The cryptocurrency market continued to build on the weekend’s strong trading gains on Tuesday, following Chinese President Xi Jinping’s bullish comments towards blockchain technology. The impressive rebound in the digital currency market appears to be sustainable, as the number cryptocurrency by market capitalization, Bitcoin, holds firm above the psychological $9,000 level. Chinese linked cryptocurrencies have[…]
Markets expecting more of the same from the Bank of Canada
The Bank of Canada will be deciding on interest rates this Wednesday, with almost all economists in agreement that the central bank will maintain its benchmark interest rate at 1.75 percent. Given the amount of uncertainty towards the global economic environment, the chances of an interest rate increase from the central bank are extremely low.[…]