Several respondents called attention to providing easier access to RTGS in the context of the increasing competition in the UK payments market. We asked the industry about general trends in the payments landscape driving the need for enhancements in RTGS (see Table A2.1). The majority of respondents selected increased focus on operational resilience and innovation in payment technology as the main drivers of change. Section A2 covers market trends and overview of cross-cutting priorities across all features. We consulted on extending the current ACR mechanism so that securities in CREST could be used to generate intraday liquidity in RTGS beyond what is needed for settlement in CREST. Respondents thought this feature could be useful but less urgent compared with other functionality and may more readily be absorbed in the upcoming CREST replacement programme.

Historical Context of Monetary Systems

Huge size disparities in economic stimulus packages persist between G20 (27% of GDP) and SSA (3% of GDP) countries. The financing of COVID-19 responses in SSA has evolved over time from accommodative monetary policy at the onset of the pandemic to more fiscal support measures but policy space remains very limited. The IMF and World Bank are providing funding to COVID-19 the economic policy response in most SSA countries but this so far falls short of what is needed. Given significant existing funding gaps and limited fiscal space, COVID-19 stimulus packages in SSA are mostly supporting immediate short-term responses to the crisis; funding for long-term ‘building back better’ recovery measures is elusive. ‘Smarter’ economic and social policies are needed to mitigate the impacts of the crisis and promote an inclusive and sustainable recovery. Across countries and all else being equal, a 1% increase in public expenditure tends to increase output by 1%, or a fiscal multiplier close to 1.

Use the Average True Range (ATR)

With a growing population, whose dietary preferences are moving towards land-intensive foods such as meat, and increasing pressure on land availability for cultivation, demand for potash and fertilisers will continue to grow steadily year-on-year. But this volatility in such an important basic bitcoin era commodity highlights the need to develop new potash basins that diversify the supply into politically safer and geographically convenient locations. Scalping is automatic trading in short time frames; robot opens lots of orders and closes them with a small profit. It is very important to consider a broker’s spread size when choosing this expert (advisor) variant, as profit is sometimes only a few points.

AG-Platforms in East Africa: National and regional policy gaps

Feedback highlighted their potential in enhancing interoperability between the UK and other payment infrastructures internationally. Respondents also called for the Roadmap to be adaptable to future changes over the short, medium and long term. This was particularly relevant for mechanisms for liquidity generation due to geopolitical uncertainties and quantitative tightening policies. Driving forward innovation in the context of increased competition both in the UK and internationally was identified as a key reason for enhancements to settlement in RTGS.

Chart A3.9: Extended operating hours in RTGS

• In the consultation, we proposed to continue introducing new APIs based on industry demand and evolving our ecosystem.
• Europe’s share of global growth is falling from its current level of about 15 percent.
• The Commodities and Futures Trading Commission (CFTC) is the official regulatory agency for the futures markets in the US.
• All central banks will want to have a digital currency under the purview of a government.

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Equity Outlook: Will lower rates lift all boats in equities?

The Commodities and Futures Trading Commission (CFTC) is the official regulatory agency for the futures markets in the US. There is a synergy between the CFTC and other regulators across the world to ensure that the futures markets remain transparent and that market confidence remains high. This article has been prepared for information purposes only, does not constitute an analysis of all potentially material issues and is subject to change at any time without prior notice. Views expressed herein are not intended to be and should not be viewed as advice or as a personal recommendation.