Global Financial System

As the world gradually splits into blocs led by the US and China, there are expectations that the renminbi will start to challenge the dollar’s position as the world’s reserve currency. These expectations may be proven wrong, economists say.

US closely monitoring slump in Chinese economy

America's approach has been to press China on the pace of its reforms, including additional measures for an orderly transition to a market-oriented exchange rate that responds to upward as well as downward market pressure.

How does the Fed raise interest rates?

The time will come soon when interest rates starts rising in US. It is good to understand how does the Federal Reserve actually increase or lower the interest rates in the economy.

Accountants draft standards to audit Libor submissions

An international accounting body is drawing up guidelines on conducting external audits of banks' interest rate estimates, to restore confidence in the Libor benchmark after the revelation that bankers rigged figures.

Breaking up the euro? Try unscrambling an omelette

Can you unscramble an omelette? That, in essence, is what euro zone leaders and the global monetary policy elite will have to do if the euro zone is to be reshaped in any semblance of an orderly manner.

Sovereign default possible, avoid equities, says CLSA

The global situation may be getting graver with the huge possibility of sovereign default happening. 'The US and Europe are already in a recession and there is a risk of collapse in the European banking system. Markets are worried about insolvency in the global financial system,' Russell Napier, strategist, CLSA told CNBC-TV18.

Fitch affirms US at AAA, outlook stable

Fitch Ratings said on Tuesday it affirmed the United States' top-notch credit rating at AAA, giving the world's largest economy a reprieve after it was downgraded by Standard & Poor's little more than a week ago.

Reform could harm developing economies: World Bank

Plans by leading economies to reform the global financial system could disadvantage the developing world and risk looking outdated by the time they are enforced, a top World Bank official said on Sunday.