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A Reuters poll of 13 economists predicts that the Hungarian central bank will keep its benchmark interest rate unchanged at 6.5% next Tuesday.On November 14th, Hungarian Prime Minister Viktor Orbán stated on Friday that the US government would support Hungary if the forint were attacked by speculators. Orbán has repeatedly mentioned potential US aid since his meeting with Trump last week. While the forint has been volatile during Orbáns 15-year tenure, the currency is currently near its highest level against the euro in a year and a half. Orbáns comments are likely to attract attention given the generally positive market sentiment, as the prime minister is increasing spending in an effort to regain public support ahead of the elections next April. Orbán stated that the government and central bank could use various types of mutual assistance tools regardless of market volatility, but he did not elaborate. The US has not yet confirmed any agreement regarding financial assistance.Google (GOOG.O) plans to appeal the European Commissions ruling on advertising technology and has stated that it does not agree with the decision.On November 14th, Orbbec announced that its 3D visual perception technology can accurately capture three-dimensional spatial information. Combined with its self-developed algorithms, it empowers various AI smart terminals with core capabilities such as environmental perception, intelligent interaction, and dynamic navigation. Furthermore, the company launched its independent chip R&D program in its second year of operation and has completed the tape-out of more than 10 chips to date, covering iToF, dToF photosensitive chips, and dedicated ASIC computing chips.On November 14th, the State Financial Regulatory Commission released key regulatory indicators for the banking and insurance sectors in the third quarter of 2025. Among these, at the end of the third quarter of 2025, the liquidity coverage ratio of commercial banks was 149.73%, up 0.48 percentage points from the end of the previous quarter; the net stable funding ratio was 127.67%, up 0.08 percentage points from the end of the previous quarter; the liquidity ratio was 80.10%, up 0.21 percentage points from the end of the previous quarter; the excess reserve ratio for RMB was 1.53%, up 0.01 percentage points from the end of the previous quarter; and the loan-to-deposit ratio (RMB domestic caliber) was 80.46%, up 0.11 percentage points from the end of the previous quarter.

NY Fed official: Digital dollar could speed foreign exchange settlement

Cory Russell

Nov 07, 2022 15:06

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Using a central bank digital dollar to shorten settlement times in foreign currency markets, according to a senior Federal Reserve Bank of New York official, has potential.


The head of the bank's markets division, Michelle Neal, did not indicate that the introduction of a central bank digital currency, or CBDC, was near. But she said that bank research has shown how this particular kind of money may help an important aspect of the financial system.


Neal said in the text of comments prepared for a conference in Singapore that foreign currency spot transactions "are crucial in the context of cross-border payments, and serve as a building block for lengthier, more sophisticated transactions." She said that there is potential for improvement since the settlement of these deals takes roughly two days.


A Fed digital dollar used in wholesale transactions, together with the capability to record transactions, "results in immediate and atomic settlement," the research endeavor claims.


In less than 10 seconds, on average, settlement might happen, according to Neal's study, "indicating that horizontal scalability was viable."


The Federal Reserve has been looking on ways to introduce a totally digital dollar, known as Fedcoin by some. According to Fed officials, elected officials would need to endorse the launch of any such asset.


Some central bankers have questioned the need of a CBDC for the United States.


Before the New York Fed's report on the study project was released, Neal made his remarks.


The first phase of work "revealed promising applications of blockchain technology in modernizing critical payments infrastructure," according to Per von Zelowitz, director of the bank's New York Innovation Center, in that press release. "Our inaugural experiment provides a strategic launch pad for further research and development regarding the future of money and payments from the U.S. perspective," he added.


The research issued a warning that its conclusions "are not meant to achieve any particular policy result" and did not have consequences for the implementation of a completely digital central bank currency.

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