Saudi Arabia Replaces Central Bank Head, Lays Out Fund Goals
Bloomberg 1/25/2021 Abeer Abu Omar, Vivian Nereim and Matthew Martin
(Bloomberg) Saudi Arabia replaced its central bank governor and said it would more than double the size of its sovereign wealth fund by 2025 as Crown Prince Mohammed bin Salman sets the stage for a flagship investment conference this week.
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Ahmed Alkholifey was removed from his position heading the monetary authority. He is being replaced by Fahad Al-Mubarak, who was central bank governor from 2011 to 2016. The reason for the change wasn’t given.
The central bank and the $400 billion Public Investment Fund are set to play an increasingly important role in powering the domestic recovery as the government looks to boost an economy hit by the twin shocks of the coronavirus pandemic and low oil prices. The central bank’s mandate was recently expanded to include supporting economic growth, while the crown prince h
Saudi Arabia Replaces Central Bank Head, Lays Out Fund Goals
Bloomberg 1/25/2021 Abeer Abu Omar, Vivian Nereim and Matthew Martin
(Bloomberg) Saudi Arabia replaced its central bank governor and said it would more than double the size of its sovereign wealth fund by 2025 as Crown Prince Mohammed bin Salman sets the stage for a flagship investment conference this week.
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Ahmed Alkholifey was removed from his position heading the monetary authority. He is being replaced by Fahad Al-Mubarak, who was central bank governor from 2011 to 2016. The reason for the change wasn’t given.
The central bank and the $400 billion Public Investment Fund are set to play an increasingly important role in powering the domestic recovery as the government looks to boost an economy hit by the twin shocks of the coronavirus pandemic and low oil prices. The central bank’s mandate was recently expanded to include supporting economic growth, while the crown prince h
Fed Takes U.S. Fiscal Temperature in New Era of Biden: Eco Week
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January 23, 2021
(Bloomberg) U.S. Federal Reserve officials will meet this week for the first time since Democrats took control of the Senate earlier this month, which has raised the odds of new President Joe Biden and his congressional allies passing a big pandemic relief package.
At the conclusion of the central bank’s two-day policy meeting on Wednesday, Fed Chair Jerome Powell will give the public a sense of how he and his colleagues evaluate the impact of the fiscal shift on the economic outlook amid rising Treasury yields and a stock market pushing to new record highs.
Norges Bank’s ‘Surprisingly Hawkish’ Comments Fan Early Hike Bet
Bloomberg 1/21/2021 Ott Ummelas
(Bloomberg) Norway’s central bank may raise its main interest rate as early as this year, well ahead of peers, after economists found hints in its latest statement pointing to a more upbeat assessment of the future.
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Norges Bank, which kept its benchmark deposit rate at zero as expected, said its official stance remains that the first rate hike is likely to come in early 2022. But the bank also signaled that the prospect of bringing the pandemic under control seemed slightly brighter than previously assumed, in part thanks to Norway’s fast rollout of its vaccine program.
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AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Dollar Boosted by Strong Recovery in Jobs MarketAustralia’s employment data was solid news. Its economy has now recovered 90% of the number of jobs lost during the pandemic.
Jan 21, 2021 11:41 AM GMT
The Australian and New Zealand Dollars are trading higher on Thursday with both commodity-linked currencies seemingly poised to resume their uptrends after a nearly three week pause. Helping to boost the Aussie and Kiwi is a weaker U.S. Dollar which is declining across the board against major peers as plans for a massive U.S. stimulus package fueled market optimism and sapped demand for safe-have currencies.