Economic growth is expected to post 1.4% this year in the European Union (1.3% in the euro area) – around 0.5% less than forecast in April. The main downside risks identified in the spring forecast have materialised, with the financial turmoil deepening, commodity prices soaring and the shocks to several housing markets spreading more widely. Inflation is expected to average 3.8% in the EU and 3.6% in the euro area this year following the continued strong rise in commodity prices. This represents an upward revision, although inflation could be at a turning point as the impact of past increases in energy and food prices gradually fades in the coming months. For 2008, the Commission’s Economic and Financial Affairs Directorate General now forecasts growth at 1.4% in the EU and 1.3% in the euro area, which represents a 0.6% and 0.4% downward revision, respectively, compared to the spring forecast. This is calculated on the basis of updated projections for France, Germany, Italy, the Netherlands, Poland, Spain and the UK, which together account for about 80% of the EU’s GDP.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more