How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
ECB is on the verge of developing real time money transfer service
The European Central Bank is geared up towards developing an instant payment settlement service. The EU’s number one financial institution is going to make this come true by late 2018. The key purpose of this move is to drastically facilitate real-time money transfer of small scale transactions. That’s what the European Central Bank revealed in its statement.
Real time transfer facilities are currently available for large volume payments. However, the new service, set to get down to operating in November next year, would expand it to all transfers, not to mention retail transactions, at a marginal cost.
The European Central Bank emphasized that the service is about to be developed in broad cooperation with the banking industry of the European Union, and it’s going to be offered to financial institutions at the low price of 0.20 euro cent per payment for the first two years of operation.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.