Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into recession.
Australia’s central bank injected A$6.90 billion ($4.10 billion) into the financial system on Tuesday and bought A$4 billion in bonds as economists predicted a spike in unemployment and the worst recession in the country’s history due to the coronavirus.
CBUAE cautioned consumers saying that it would never ask consumers about private information — such as personal and bank account information. It warned consumers to be alert and aware of malicious phone calls and WhatsApp messages claiming to be from CBUAE.
Mexico’s central bank (CB) unveiled around $31 billion in support for the financial system and cut borrowing costs in the country’s most decisive move yet to help the economy weather the coronavirus pandemic.
CBUAE and ADGM have announced that they will collaborate, jointly host, and organise the fourth annual FinTech Abu Dhabi Festival, FinTech Abu Dhabi, which will be held from Nov.24 - 26, 2020.
To date, 77 per cent is already drawn-down from the Dhs50 billion liquidity facility within the Targeted Economic Support Scheme (TESS), equivalent to Dhs38.5 billion of allocated funds.
Taiwan’s central bank (CB) has room for further interest rate cuts, governor Yang Chin-long said on Thursday, but he cautioned economic growth could be less than 1% this year due to the impact of the coronavirus pandemic.
Under the new law, legal action may not be taken against debtors if they invoke their insolvency status and begin the process of restructuring their debt.
South Korea’s central bank left interest rate steady on Friday even as it trimmed growth and inflation projections, underlining a cautious view on the economy in the face of global risks and cementing market bets for more policy easing next year.