Day: 21 October 2020

Fed’s Beige Book Shows Slight to Modest Expansion

The Federal Reserve’s latest Beige Book survey of economic activity through the 12 regional bank districts Wednesday found little evidence of any V-shaped recovery, instead seeing “slight to modest” improvements in most regions. Assembled by the St Louis Fed, the survey prepared for the next Federal Open Market Committee meeting November 4-5 was able to […]

BoE’s Ramsden: UK Doesn’t Need Negative Rates Right Now

The UK economy does not require sub-zero interest rates at present, according to a top central banker Wednesday, who added the negative borrowing rates have been most effective in other jurisdictions once a recovery is underway. “The time” for negative rates in the UK “is not right now”, said Dave Ramsden, the Bank of England […]

ISDA Publishes Whitepapers on Smart Contracts, DLT

The International Swaps and Derivatives Association (ISDA) and R3 have collaborated with Clifford Chance, Jones Day, Linklaters and McCann FitzGerald to publish four new whitepapers that analyse the legal issues associated with using smart derivatives contracts on distributed ledger technology (DLT). Use of new technologies has the potential to significantly increase efficiency and reduce costs for derivatives […]

ECB Hints at Refinement of ‘Price Stability’ Goal

The European Central Bank (ECB) could refine its approach to achieving price stability during its delayed strategy review, assessing its inflation target and the components of the inflation basket, according to top rate setters Wednesday. The ECB has resumed a strategy review halted by the COVID pandemic, an evaluation that will include whether the current […]

CLS Sees FX Volume Rise

CLS average daily volume in September mirrored that of the major FX platforms to report data, rising 8.2% from August to $1.785 trillion, while falling year-on-year, in this instance by 3.1%. Spot volume was up both month-on-month (by 11.2%) and year-on-year (5.2%) at $427 billion, while forward activity was $108 billion, a 40.3% rise from […]

Profit & Loss is no longer publishing

Thank you for 21 great years of support