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Looking to expand your access to Emerging Markets? Join our Head of eFX, Lewis Samuels, at the TradeTech FX panel in Amsterdam on the 18 September at 11:10am CET. Lewis will be joined by experts Dmitri Galinov, Stéphane XAVIER, Telmo Simoes, and Roderick N. providing valuable insights into the latest trends in liquidity, on-shore settlement, electronification, and NDF. Agenda -> https://lnkd.in/eeveNjpU

Morning Minute 09/09: Japanese GDP growth revised lower Headlines: Japan’s economy grew at a slightly slower rate than initially thought in the second quarter, expanding at 2.9% compared with an initial estimate of 3.1% | Downward revisions in both corporate and household spending are not expected to deter the Bank of Japan’s plan to raise interest rates later this year. Chinese inflation sped up last month to the highest level in six months, but this was due to higher food costs rather than a recovery in domestic demand. After experiencing its worst day in over a year on Friday and worst weekly performance since October last year, the pan-European STOXX 600 was up 0.5% this morning, partly driven by an advance in tech stocks. Emerging Markets: Algerian President Abdelmadjid Tebboune won a second term at the weekend, in an election that critics say was brought forward from December in order to sideline any other challengers. The Venezuelan presidential opposition candidate Edmundo Gonzalez, arrived in Spain on Sunday seeking asylum after the Maduro regime issued an arrest warrant for him on various charges, including forging a public document, incitement to disobedience of laws, conspiracy and sabotage. Vietnam was battered over the weekend by typhoon Yagi, the most powerful storm in Asia this year, leaving at least 35 people dead and more missing, mostly because of flooding and landslides.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication

Morning Minute 06/09: Market awaits US job data Headlines: Markets will be watching the US today, where the Labour Department is expected to release an employment report, which is expected to show that job growth in the US sped up, with unemployment dropping to 4.2%. Emmanuel Macron appointed Michel Barnier, the former Brexit negotiator for the EU, as prime minister yesterday, in a tentative first step to end months of political uncertainty. No one party has enough support in the National Assembly to govern alone following inconclusive elections earlier in the summer. The British economy needs an additional one trillion pounds of investment over the next ten years to achieve Prime Minister Keir Starmer’s target of an annual 2.5% growth, according to a report released today. Emerging Markets: The Egyptian central bank held its overnight interest rates at 28.25% for the lending rate and 27.25% for the deposit rate for the third consecutive meeting since a hike of 6% in March, when a $6 billion agreement was made with the International Monetary Fund. Both sides in the ongoing Sudanese civil war have committed widespread abuses which could amount to war crimes or crimes against humanity, according to a report by a UN fact finding mission, which also recommended an arms embargo and a peacekeeping force to protect civilians. The World Bank and French Development Agency (AFD) have given Uganda $600 million in funding for the development of infrastructure and waste management in Kampala.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication.

David Pitts, our Senior Advisor, for International Development Organisations is celebrating 50 years in Banking and 25 years working within the Humanitarian and development sector. Reach out to David, to hear about his experience and how collaboration with partners such as Paycode is helping to solve last mile challenges. If you're an NGO/ Development organisation and are interested in collaborating, then connect with us and with our mission in moving money where it's needed. #ngos #lastmile #payments

Morning Minute 05/09: Federal Reserve cuts loom large Headlines: San Francisco Fed President Mary Daly stated yesterday that the Federal Reserve needed to cut interest rates in order to keep the labour market healthy but the amount of cuts would have to be determined by incoming economic data. The Bank of Canada (BoC) cut interest rates by another 25 basis points, the third consecutive cut and taking the overnight rate to 4.25% | Policymakers made little change to their stance from July, saying that it was “reasonable” for cuts to continue if inflation keeps on its downward path and that they see “little evidence” of broad-based price pressures. The German economy is expected to stagnate this year, according to a report released by the Ifo institute | Despite prices continuing to fall, with inflation forecast to be 2.2%, consumption is expected to remain weak, with consumers keeping money in savings. Emerging Markets: Malaysia's central bank kept its benchmark interest rate unchanged at 3% today, amid steady economic growth and optimism over inflation and the currency outlook | The rate has remained steady for over a year, since May 2023, with the central bank saying that the level supported economic growth while not spurring inflation, which is expected to stay below 3% this year. The Polish central bank kept its benchmark rate at 5.75%, where it has been held since last October, at its meeting yesterday, defying pressure from the government to reduce interest rates to spur economic growth. Ghana is proposing to its international bondholders that they swap their existing bonds for new instruments, having reach a preliminary agreement two months ago with two major bondholder groups.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication

Morning Minute 04/09: Markets slump on renewed growth concerns, Nvidia's sell-off Headlines: Global stock markets tumbled overnight and this morning, led by a heavy decline in technology names and as worries about the global growth outlook drove investors out of risky assets, while oil prices hit multi-month lows | Shares of Nvidia fell by almost 10% yesterday in the biggest ever single-day decline in market value for a US company. European shares opened sharply lower as part of the wider global sell-off, while investors wait for more economic data coming from the eurozone today | Today we have a slew of data, including general eurozone services PMI as well as individual data for Germany, Spain, Italy and France. Growth in China’s services sector activity slowed last month despite the summer travel peak, prompting some firms to cut staff amid concerns about rising costs, according to the latest survey. Emerging Markets: Egyptian President Abdel Fattah al-Sisi will hold talks with President Tayyip Erdogan in Turkey today in the first presidential level visit in 12 years amid a warming of long-frozen relations between the two regional powers. Kenya’s private sector activity picked up in August as firms recovered from the disruption caused by anti-government protests in July | The Stanbic Kenya PMI rose to 50.6 in August from 43.1 a month earlier. South African private sector activity rose in August as firms received higher volumes of new orders for the first time since April 2023, according to the latest data.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication

Exciting news 🔊 We are teaming up with Visa to revolutionise FX and cross-border payments in emerging markets! By integrating Crown Agents Bank's vast network with Visa Direct, we're enabling fast, efficient, and reliable ‘last mile’ payments, even in hard-to-reach areas. This collaboration will benefit NGOs, remittance companies, and businesses, making it easier to move smaller value payments directly to recipients' cards, accounts, or wallets across more than 190 countries and territories. Find out more here: https://lnkd.in/estZuUHP #PaymentsInnovation #EmergingMarkets #CrossBorderPayments #FX #LastMileSolutions

The ITFA Annual Conference is back from the 4-6th September in Cyprus 🤝 Reach out to Duarte Pedreira, our Global Head of Trade and Working Capital Finance and David Smithson, SVP Relationship Manager for Financial Institutions, who will be in attendance. 'IFTA Multilaterals - where next?' at 14:45, Duarte is moderating this panel with speakers Gwen Mwaba, Admir Imami, Shona Tatchell, Makiko Toyoda and Mohamadou Ba. 'Navigating emerging market credit risk in a post-rate fear era' at 16:15 - David will speak on this panel alongside panellists Clint Eastwood, Laszlo Varnai, Richard Waite, with moderation by Deepesh Patel. For further details about the panels, visit: https://lnkd.in/eShZ57HU AfDB Innovation and Entrepreneurship Lab | African Export-Import Bank (Afreximbank) | EBRD | Arab-British Chamber of Commerce | Recovery Advisers | Howden Insurance Brokers Limited | Trade Finance Global (TFG)

Morning Minute 03/09: Swiss inflation data supports cut expectations Headlines: Swiss inflation slowed more than expected in August, rising 1.1% vs the 1.3% rise in July, bolstering the case for the Swiss National Bank (SNB) to cut interest rates another time, having already cut twice this year. European shares opened flat this morning as investors wait for a slew of economic data that is expected to give more clarity on the direction of monetary policy in the USA and euro zone | Mining stocks fell, weighed down by demand worries after weak Chinese manufacturing data. Australia's current account deficit widened to the largest in six years in the June quarter as commodity prices slipped and more money flowed abroad in debt and dividend payments, while net exports added less to economic growth than hoped. Emerging Markets: South Korea's consumer inflation slowed to 2% in August, the weakest growth in prices in almost 3 and a half years, increasing market expectations that the Bank of Korea will start easing monetary policy. The World Bank has raised its Indian economic growth forecast to 7% for the current fiscal year, from an earlier estimate of 6.6%, helped by government spending on infrastructure. The UN held talks in Tripoli to help resolve a central bank crisis that sparked a blockade of oil production and threatens the worst crisis in years for the major energy exporter.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication

Morning Minute 02/09: Far-right party wins German state election Headlines: The far right Alternative für Deutschland (AfD) party won local elections in the eastern state of Thuringia, and came second in neighbouring Saxony, the first time a far-right party has triumphed in a German state vote since World War II | The other parties in the Thuringia parliament have already said they would not enter a coalition with the AfD, making it likely the second place Christian Democrats will lead the next administration. China’s manufacturing activity rebounded in August, as new orders increased production, offering some positive news after a slew of negative economic releases over the summer | However, a decline was seen in new export orders, the first in eight months, causing concern after slow export data in July. Japan's factory activity contracted at a slower pace in August thanks to a recovery in output and new orders, offering some hope for an economy that is starting on the road to recovery | New orders shrank modestly due to tepid demand in both domestic and overseas markets, but the pace of decline slowed from July. Emerging Markets: Turkey's economy expanded by a less-than-expected 2.5% in the second quarter of the year, data showed on Monday, cooling in the face of a year-long monetary tightening drive | GDP grew 0.1% from the previous quarter, versus an expectation of a 3.2% expansion. Annual inflation in Peru slowed to 2.03% in August even though consumer prices, mainly for food and transportation, increased, according to data released Sunday by the national statistics agency. Indonesia's annual inflation rate was 2.12% in August, essentially unchanged from 2.13% in July, official data showed on Monday, holding comfortably within the central bank's target range of 1.5%-3.5% and matching market expectations.   -------------------------------------------------   Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication