Central bank

Assalamualaikum warahmatullahi wabarakatuh.

I don't know what, uh, I'll be adding after, uh, the Central Bank has covered all, all, uh, about the Islamic banking and the Islamic sector in Oman.

Um, it's good to mention here that, um, uh, the Islamic, uh, services and the banking and financial sec-sector in Oman has started long time ago.

Uh, I would say, I used to be part with Asad in two thousand and fifteen with the first sovereign Sukuk issuance.

A story that we complement each other, uh, capital market is connected to the banking system.

Um, I think, uh, a full ecosystem has to, uh, complement the full story of the Islamic services in Oman.

So I would say that, um, uh, back in twenty, uh, fifteen, when we, um, the, the milestones of the Islamic, uh, financing started in Oman, um, uh, in two thousand and twelve, uh, where the regulatory framework has been issued by the Central Bank, uh, to establish Islamic banking.

And, uh, we have seen banking as well, uh, the first mover to- uh, to- toward the Islamic banking.

And this is why we're here investing, right? We are the early adopters and we are positioning ourselves to make incredible returns.

So blockchain tech, as we talked about, is here to stay and we're seeing central banks major commercial banks are all building with the technology.

So let me give some details here because this is a big one.

So the ECB plans to invest a small portion of its reserves in tokenized securities, giving the central bank direct exposure to blockchain-based financial markets.

the new Eurosystem platform, which allows wholesale transactions to settle in central bank money.

The platform essentially bridges the ECB's payment system to blockchain-based financial markets.

The plan to invest in tokenized securities and pontes reflects a more significant bid by central banks in the EU to adapt to the increasing use of blockchain in finance.

Please share this news with a skeptic of blockchain and crypto so they can understand what's being built and how the financial system is being changed across the globe because of this technology.

If it wasn't, I would not have signed it.

Hey, and further news, breaking news at midday, an independent review of the Reserve Bank's response to COVID has found it was too slow to start hiking interest rates.

Duh, I could have told them that, Todd.

Yeah, look, I have got to say, and we'll have a chance to go through the report in great detail.

It was necessary during COVID we were locked up for money to be spent, but the Reserve Bank and the Labour government, Chris Hipkins, kept spending in the name of COVID.

We went from $60 billion worth of debt to $180 billion worth of debt.

And it wasn't all COVID.

And I think the left would love us all to forget that.

The Russian Bitcoin and crypto industry may begin functioning within a legal framework before the end of this year.

Central Bank Deputy Governor of Russia, says.

So as Bitcoin stalls, at least the Clarity Act, I should say, as the Clarity Act stalls in the U.S., Russia and other countries are moving forward with their legislation.

You know, this is the game theory in full effect.

Yeah, well, the big thing

also is cost of capital, and particularly when you look at the way the Reserve Bank has put the push on interest rates, again, now up at 2.75% for the OCR.

And then the cost of capital... flows through, obviously, the banks.

The banks are still taking high profits out of New Zealand compared to Australia.

In Canada, their central bank boss has also been speaking and warning that their trade difficulties with the U.S. could cut Canadian growth in half to below 1%.

It's actually oddly impressive that a dispute this large with an economic adversary as big as it gets can be navigated with any expansion.

In Australia, Reserve Bank Assistant Governor Sarah Hunter was on the Nine Network podcast this morning and emphasised that the RBA is worried about inflation and fighting that threat is where their energies currently are focused.

And the copper price is making another push up towards its record high, one that was reached on September the 9th, this time driven by growing logistics issues.

The U.S. Treasury 10-year yield is now just on 4.96%, down 4 basis points from yesterday.

It's just going to take the guts to actually take that step forward.

And all those debts that are being pulled out of the air... are going to say, bang, it's like the Reserve Bank turning around in maybe tomorrow or whenever it's going to be and say, right, we're sticking the interest rates up by another 0.25%.

Well, guess what? If that happens, the banks stick up their interest rates, which means they start making record profits again.

Yeah, it's a cycle.

And that's going to push us into inflation goes up and we end up towards recession.

So it's more to do with not so much with printing money at the moment, but to do with countries lending money to other countries and then saying, we can control you financially.

Well, and I think the other aspect of all of this, Patrick, was that during the heights or the depths of COVID, when interest rates were 0.1% here and virtually zero, in fact, I think they were negative in the EU at one point, Reserve banks were printing money because the idea of having to pay it off was so easy because it was almost dollar for dollar.

It was hardly any interest.

Arrancamos en Paraguay, donde las expectativas de inflación continúan bien ancladas.

De acuerdo con la última encuesta del Banco Central, la inflación esperada para el cierre de 2026 se mantiene en tres por ciento, mientras que para 2027, para los próximos doce meses y para el horizonte de política monetaria, permanece estable en tres coma cinco por ciento.

Del lado de la actividad, las perspectivas tampoco cambian demasiado.

El mercado sigue proyectando un crecimiento sólido del PIB de cuatro coma cinco por ciento este año y de cuatro coma cero por ciento en 2027.

Kevin Warsh evitó anticipar próximos movimientos, pero insistió en que la prioridad sigue siendo devolver la inflación a la meta, aun cuando eso implique mantener una política monetaria restrictiva durante más tiempo.

Nos movemos ahora a Brasil, donde el Copom recortó la tasa Selic en veinticinco puntos básicos hasta trece coma setenta y cinco por ciento, aunque mantuvo un discurso cauteloso.

El banco central reconoció que la actividad económica está mostrando una desaceleración más intensa de la prevista.

Sin embargo, la evaluación sobre inflación y riesgos prácticamente no cambió respecto de la reunión anterior.