Intrepid Private Capital Group Financial News Blog

Intrepid Private Capital Group

IMF Places China’s Yuan in Reserve Basket

The International Monetary Fund (IMF) announced earlier this month that it would be placing China’s currency, the yuan, in its Special Drawing Rights (SBR) basket of reserve currencies, alongside other globally recognized currencies like the dollar, euro, pound and yen. The world’s most populated country has been pushing the IMF to place its currency in…

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Bank of England Holds Record-Low Interest Rates

Good news for consumers and investors on the other side of the pond: Bank of England has confirmed that it will hold its record-low 0.5% interest rates. The Bank of England’s Monetary Policy Committee (MPC) is responsible for adjusting interest rates, which they say was not necessary this time around. Just six years ago, the…

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Banks Fined $5.7B For Manipulating Global Currencies

Four global banks have been ordered to pay $5.7 billion for allegedly manipulating the world’s economic currency market. JPMorgan Chase, Citigroup, Barclays and The Royal Bank of Scotland admitted to manipulating the global currency market by conspiring amongst themselves to adjust rates on the U.S. dollar and Euro when traded for other currencies on the…

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China Cuts Interest Rates Amidst a Weakening Economy

China has cut interest rates for the second time in a three-month period, while the Asian nation battles through a weakening economy. The People’s Bank of China — the government-controlled central bank of China — announced on its website that the lending rate for one-year loans would drop 0.25 percentage points to 5.35%. Furthermore, it…

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Bernanke’s Bullish Bravado

“The illusion that low interest rates signal easy money for entrepreneurial business growth is simply that – an illusion. The banks have no real incentive to lend and the EPA’s fanatic commitment to the destruction of the coal industry will continue to drive energy costs up, further challenging established companies, as well as startups.” We’re…

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