Yen currencies around the world
The Yen, Yuan and Won all share the same roots which were colloquial words for ‘Round’ that referenced the round silver dollar coins of the Spanish Empire. Historically, Spain had dominated this part of the world and their currency had over time become commonly used in vast parts of eastern Asia. The first formal Yen […]
Japan’s sluggish economy and the Yen
For decades the Japanese Yen has been seen as a ‘safe-haven’ currency. Japan and its economy are world-leading, regularly appearing in the top three on lists of economic strength indicators (after China and the US.) However, for the last few years, even before Covid, the Japanese economy and its currency have stagnated. This year, the […]
Who actually sets interest rates around the world?
Given the ongoing economic crises in various countries around the world, attention at the moment is rightly more focused on interest rate decisions than in normal times. The process for raising or lowering interest rates varies from country to country. For some, it’s a pretty simple decision made by the Finance Minister, for others, it […]
BoE Governor: Expect 13%+ Inflation and a Recession!
The key update of the week is that the Bank of England has increased its interest rate by 0.5%, the largest increase since the Bank’s operational independence in 1997. The rate rise comes on the back of a dismal economic forecast by the BoE that forecasted inflation rates of 13% by the end of the […]
Fears of recession loom as inflation spirals and confidence declines
This week has been dominated by the fears of a looming recession following the release of key GDP and confidence data. Significant news was released on Thursday when it emerged that the US economy shrank for a second consecutive quarter. This technical recession is due to a 0.9% GDP contraction for Q2 following a 1.6% […]
Which are the world’s major reserve currencies?
A reserve currency is one that is held in large numbers by a foreign country’s central bank or monetary authority. Reserve currencies are held for a number of reasons including: To minimise exchange rate risks To sure up the domestic currency To make complex international payments between countries To help, support and facilitate global trade […]
Cornerstone establishes Asia team
New team appointed to leverage increasing foreign investment from Asia in UK and to grow direct business Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces that it has appointed a new team to market the Group’s services to businesses located in Asia, […]