Statement by Michele Bullock, Governor: Monetary Policy Decision

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At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent. Interest rates have been increased by 4 percentage points since May last year. The higher interest rates are working to establish a more sustainable balance between supply and

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ESMA finds increase in use of ESG-related language in the EU fund industry

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The European Securities and Markets Authority (ESMA), the EU’s financial markets and securities regulator, today publishes an article exploring the use of language related to environmental, social and governance (ESG) factors in EU investment fund names and documentation.  Tackling greenwashing is one of the key priorities in ESMA’s Strategy on Sustainable Finance, and in this

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FCA fines ADM Investor Services International Limited £6,470,600 for serious financial crime control failings

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ADM Investor Services International Limited (ADMISI), a broker, has been fined £6,470,600 for inadequate anti-money laundering (AML) systems and controls.  The nature of ADMISI’s business and client base presented potentially high levels of money laundering risk because of its business model, the geographical location of its customers, the proportion of its business involving high-risk clients

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₹2000 Denomination Banknotes – Withdrawal from Circulation – Review

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The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. In order to complete the exercise in a time bound manner and to provide adequate time to members of the public, the banks were advised to provide deposit and / or exchange

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