Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Low rates weigh greatly on smaller German financial institutions
Extremely low official interest rates keep putting pressure on Germany's smaller financial instructions, as a couple of watchdogs reported on Wednesday.
The Bundesbank and BaFin, Germany's bank regulators, polled about 1,500 small as well as medium-sized banks, which account for up to 88% of institutions and also 41% of total assets.
As the findings revealed, financial institutions actually expect pretax revenue to go down by an overall 9% for the next five years.
It corresponds to a 16% sag in the banks' overall return on capital. Well, while abrupt, it’s still is less than the 25% sag in return on capital actually anticipated in last poll conducted two years ago.
Some financial experts state that the phase of stagnation provoked by low interest rates appears to be far from over.
Additionally, the regulators appreciated the fact that German banks were looking for alternative sources of income just to withstand low rates.
Similar
China's retail sales surge dives to 16-year minimum
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
American import prices rally a bit
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
Latest news
Gold heads south on tumbling greenback
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
European equities conclude in positive territory for the fifth consecutive week
On Friday, European stock indices fluctuated at the beginning of the trading session…
RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
Deposit with your local payment systems
