In a decisive move, Cape Verde’s central bank, Banco de Cabo Verde (BCV), has pinpointed four banks pivotal to the nation’s financial health. This bold step mandates these banks to maintain conservation reserves, crucial buffers against economic shocks, ensuring robustness. Caixa Económica and Banco Comercial do Atlântico (BCA) lead with “high systemic importance.” Daily, these […]
Related Posts
Brazil’s Service Sector Confidence Declines in May: Economic Implications
The Service Confidence Index (ICS) dropped by 0.6 points in May, reaching 94.2 points. This marks the second consecutive decline, according to the Getúlio Vargas Foundation (FGV) on May 29. However, the index remained stable in three-month moving averages compared to April. FGV/Ibre economist Stéfano Pacini highlighted that service sector confidence fell for the third […]
Second quarter with 6.3% GDP growth in China, below expectation
China’s Gross Domestic Product (GDP) rose by 6.3% in the second quarter of 2023, as the National Bureau of Statistics revealed. This outcome falls 1 percentage point short of the market’s 7.3% expectation, yet it’s an increase from the first quarter’s 4.5% growth. When viewed quarter-on-quarter, there’s a 1.8 percentage point elevation. The report also […]