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RBA prepared to pause or return to outsized hikes, minutes show

AUSTRALIA’S central bank (RBA) is prepared to pause its tightening cycle or return to larger interest-rate increases if the economy requires it, according to minutes of the Nov 1 policy meeting when it lifted the benchmark by a quarter percentage point.

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Fed vice chair says ‘appropriate soon’ to slow rate hike

IT LIKELY will be “appropriate soon” for the US central bank to slow the pace of interest rate increases, Federal Reserve Vice Chair Lael Brainard said on Monday.

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Top Federal Reserve regulatory official signals greater crypto oversight

THE US Federal Reserve’s top banking cop has signalled greater oversight ahead for crypto activity, pointing on Monday to a need for firms to face “similar regulatory safeguards as other financial services providers.”

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Three out of four bitcoin investors have lost money: study

ROUGHLY three-quarters of people who have bought bitcoin have lost money according to a study published Monday as the cryptocurrency sector reels from the collapse of a major exchange that has sapped confidence.

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HSBC’s Ranojoy Dutta wants to give customers a ‘bank in their pockets’

RANOJOY Dutta has worked in four countries over the past 28 years. Now, he is devoting his time to other globetrotters like him.

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ADDX raises US$20m in funding round led by S Korea’s KB Securities

PRIVATE market exchange ADDX has raised US$20 million in fresh capital in an investment round led by KB Securities, a subsidiary of South Korean banking group KB Financial Group.

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Ant’s consumer finance unit to more than double capital to 18.5 billion yuan

THE consumer finance unit of China’s Ant Group will increase its registered capital to 18.5 billion yuan (S$3.6 billion) from 8 billion yuan previously, in part by taking on new investors, underscoring a step forward for the fintech giant’s years-long revamp.

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Binance pledges redress fund amid FTX fallout

THE world’s biggest cryptocurrency platform Binance on Monday pledged to establish a liquidity fund to curb sector fallout from the collapse of rival FTX, boosting the value of bitcoin.

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Britain progresses towards cashlessness, but not everyone embraces it

BRITAIN is taking the lead among major developed economies in moving away from cash in everyday payments, but more than two-thirds of people surveyed remain reluctant to go fully digital.

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US dollar surges as traders say markets overreacted to US inflation data

THE US dollar rose against the euro and sterling on Monday (Nov 14), after sliding to multi-months high, as expectations of a less aggressive Federal Reserve (Fed) interest rate hike faded with traders saying market overreacted to a modest miss on US inflation.

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