Sweden’s economy was stagnant last quarter, as rising borrowing costs and growing unemployment hurt spending in the Nordic region’s largest country.
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Swiss National Bank adjusts interest on bank depositsExplore stories from Atlantic Canada.
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Bitcoin's Correlation to Gold Reaches New Heights as Interest SoarsBitcoin's connection with gold has reached its highest level since the banking crisis, boosting positive sentiment. However, a drop in overall sentiment and the behavior of Bitcoin miners could lead to a bearish trend in the future.
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ECB Official Says Interest Rate Increases on HoldA member of the European Central Bank's Governing Council, Boris Vujcic, stated that the bank has finished raising interest rates for now due to falling inflation and measures to dampen lending. This comes after the ECB kept rates unchanged for the first time in over a year, with expectations that borrowing costs will remain at this level until 2024.
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BNP Head Says ECB Shouldn’t Delay Starting to Cut Interest RatesBNP Paribas SA Chief Executive Officer Jean-Laurent Bonnafe said the European Central Bank shouldn’t wait long to start easing monetary policy in order to protect the euro-area economy.
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Bank of Canada Expected to Keep Interest Rates HighThe Bank of Canada is likely to maintain its overnight rate between two and three per cent, but not in the near future. Consumers may not fully understand this yet. The central bank is expected to hold rates high to control inflation, and economists believe that ultralow rates are not on the horizon.
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Banff Centre Board Chair Fired Over Conflict of Interest AllegationsAdam Waterous, the Banff Centre board chair, was fired along with the rest of the board for advising outgoing President and CEO Janice Price about her conflict of interest in the CEO succession process. Price disputes Waterous' authority to advise her and claims his statements constituted harassment.
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