Metals News
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Swiss National Bank President Thomas Jordan earned a salary of 951,700 Swiss francs ($1.1 million) in 2023, making him one of the world’s best paid central bank chiefs. That compensation is an increase of about 2.5% from the previous year, according to Bloomberg calculations based on the annual report published Tuesday. His total remuneration came to ...
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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has officially opened its world class training academy at the old Buzwagi mine, in line with Barrick’s mine closure objective of leaving a positive legacy after mining has finished. Launched today, the Barrick Academy is designed to offer tailor-made training programs aimed at developing Barrick’s frontline ...
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I entered the workforce in 2005. That means I’ve been working in the investment business for 20 years now. The longer I’m in the money management business the more there is to learn but these are some of the things I’ve learned thus far: 1. Experiences shape your perception of risk. Your ability and need to take risk should be based on your stage in life, ...
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The ZEW Indicator of Economic Sentiment for Germany again recorded an increase in the current March 2024 survey. At 31.7 points, it is 11.8 points above the February 2023 value. In contrast, the assessment of the economic situation in Germany has barely changed. The corresponding indicator increased by 1.2 points to a new value of minus 80.5 points. ...
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The Consumer Price Index (CPI) rose 2.8% on a year-over-year basis in February, down from a 2.9% gain in January. Notable contributors to the deceleration included the indexes for cellular services, food purchased from stores, and Internet access services. Offsetting the deceleration was a year-over-year increase in gasoline prices, which rose 0.8% in ...
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Ladies and Gentlemen It is our pleasure to present the Swiss National Bank’s Annual Report for 2023. The first part comprises the accountability report submitted by the Governing Board to the Federal Assembly, and sets out how the SNB has fulfilled its tasks pursuant to art. 5 of the National Bank Act (NBA) during the past year. The second part comprises the financial report, which provides information on organisational and operational developments as well as the financial result of the SNB. The financial report is submitted for approval first to the Federal Council and then to the General Meeting of Shareholders. One of the defining events of 2023 was the crisis at Credit Suisse. On 19 March, the Federal Council, the Swiss Financial Market Supervisory Authority (FINMA) and the SNB announced a package of measures comprising the acquisition by UBS as well as state support. The SNB played a key part in finding a solution. Moreover, in its role as lender of last resort, it made ample liquidity assistance available on an unprecedented scale and in various currencies. The package of measures was crucial in managing the acute crisis at Credit Suisse and thus in avoiding a financial crisis which would have had serious economic consequences for Switzerland and other countries. Global economic growth was solid overall in 2023, while growth in Switzerland was modest. The US economy remained robust, and China’s exit from its zero-COVID policy led to a significant recovery. However in Europe, which is important for Switzerland’s economy, momentum slowed markedly. Inflation declined globally in the course of the year, but remained above central banks’ post: SNB: A REVIEW OF UBS SYSTEMIC CAPITAL REQUIREMENTS IS NEEDED. post: SNB: THE STABILITY OF SWISS BANK FINANCING NEEDS TO BE STRENGTHENED. post: SNB: BANKS NEED TO PREPARE MORE COLLATERAL FOR EMERGENCIES. post: SWISS NATIONAL BANK: THE BANK RECOGNISES A NEED FOR ACTION IN THE AREAS OF EARLY INTERVENTION, CAPITAL AND LIQUIDITY REQUIREMENTS, AND RESOLUTION PLANNING.
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The yen dwindled near the 150 per dollar level on Tuesday but held its ground ahead of a pivotal policy decision from the Bank of Japan (BOJ), while the U.S. dollar towered over ...
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Canada is slated to unveil the always-relevant inflation-related figures on Tuesday. Statistics Canada will release the Consumer Price Index (CPI) for the month of February, with ...
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At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent. Inflation continues to moderate but remains high. Recent information suggests that inflation continues to moderate, in line with the RBA’s latest forecasts. The headline monthly CPI indicator was steady at 3.4 per cent over the year to January, with momentum easing over recent months, driven by moderating goods inflation. Services inflation remains elevated, and is moderating at a more gradual pace. The data are consistent with continuing excess demand in the economy and strong domestic cost pressures, both for labour and non-labour inputs. Higher interest rates are working to establish a more sustainable balance between aggregate demand and supply in the economy. Accordingly, conditions in the labour market continue to ease gradually, although they remain tighter than is consistent with sustained full employment and inflation at target. Wages growth picked up a little further in the December quarter, but appears to have peaked with indications it will moderate over the year ahead. Nevertheless, this level of wages growth remains consistent with the inflation target only on the assumption that productivity growth increases to around its long-run average. Inflation is still weighing on people’s real incomes and household consumption growth is weak, as is dwelling investment. The outlook remains highly uncertain. While there are encouraging signs that inflation is moderating, the economic outlook remains uncertain. The December quarter national accounts data confirmed growth has slowed. Household consumption growth remains particularly weak amid high inflation and the rise in interest rates. After recent declines, real inc post: <AUD=>: *RBA LEAVES CASH RATE TARGET AT 4.35% *RBA: INFLATION CONTINUES TO MODERATE BUT REMAINS HIGH *RBA SAYS WAGE GROWTH LEVEL CONSISTENT WITH INFLATION TARGET post: RBA: ACCORDINGLY, CONDITIONS IN THE LABOUR MARKET CONTINUE TO EASE GRADUALLY, ALTHOUGH THEY REMAIN TIGHTER THAN IS CONSISTENT WITH SUSTAINED FULL EMPLOYMENT AND INFLATION AT TARGET post: RBA: WHILE THERE ARE ENCOURAGING SIGNS THAT INFLATION IS MODERATING, THE ECONOMIC OUTLOOK REMAINS UNCERTAIN #News #Markets #RBA #ECONOMIC #INFLATION #live
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post: BoJ Governor Ueda Proposes As Chair Ending Negative Rates - NHKBank of Japan Governor Ueda proposes lifting of negative interest rate policy The Bank of Japan is holding its second day of monetary policy decision-making meetings today, and Governor Ueda has just proposed a proposal for a major shift in monetary easing measures, such as lifting the negative interest rate policy, and has begun to summarize the discussion. We plan to announce the decisions made at the meeting soon, and if we end negative interest rates and raise interest rates, it will be the first time in 17 years. At today's second-day meeting, nine policy committee members, including Governor Ueda, are discussing the immediate direction of policy management. Governor Ueda, who is currently serving as chairman, proposed a proposal for a major shift in monetary easing measures, including the lifting of the negative interest rate policy, and the discussion began. It also appears that discussion
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At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan assessed the virtuous cycle between wages and prices, and it judged it came in sight that the ...
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Gold has gone back and forth during the early hours on Monday, and I think this might be a little bit of a harbinger as to what we are going to do. After all the market had recently shot straight up in the air and broke well above the $2,175 level. It also tested the flash crash higher that we had seen on December 4th and has since pulled back. Now I think ...
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Silver's price dropped toward $25.00 a troy ounce on Monday as US Treasury bond yields rose ahead of the Federal Open Market Committee (FOMC) meeting. The US 10-year Treasury bond yield advance underpins the Greenback, a headwind for the precious metal. Therefore, XAG/USD trades at around $25.03, down by 0.57% at the time of writing. The grey metal daily ...
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Barchart, a provider of technology, data and workflow solutions for commodity firms and agribusinesses, announces the launch of integrated Bid, Offer and Hedge management in cmdtyView. cmdtyView is Barchart’s flagship market intelligence, analysis and risk management platform for commodity merchandisers, traders, brokers and analysts. With this release, ...