India Proposes BRICS Digital Currency Network

Brent crude reached $109.97 per barrel, driving global bond yields to new peaks and triggering a sell-off in equities across Asia and the US.

With the Bank of Japan expected to lift rates to a 31-year high of 1.25% next week, officials are signaling that geopolitical tensions are reinforcing the need for continued tightening. The market is nearly certain of the 25bp hike, leaving the post-meeting statement as the key indicator for the future path of monetary policy.

Nominal GDP growth hit 21.9% in H1, the highest since the early 1990s, prompting the Bank of Korea to consider further tightening.

Brent crude reaches a four-month high, pushing ten-year Treasury yields to 4.97 percent and triggering a global bond sell-off.

India is leveraging its chairship to push for deeper BRICS integration, specifically promoting the cross-border adoption of the Unified Payments Interface and local currency settlement to address the $226 billion trade deficit. While intra-BRICS trade has surged to $1.2 trillion, New Delhi is pressing for the removal of non-tariff barriers and greater market access for critical minerals and services to balance structural imbalances.

Cuba's central bank has eliminated the requirement for prior authorization for private businesses to open foreign-currency accounts. The new resolution takes effect in September.

Indian infrastructure financier REC completed a tokenised corporate bond issuance using wholesale central bank digital currency settlement.

The People’s Bank of China extended its buying streak to 22 months despite record prices. This move aligns with a sharp decline in US debt holdings.

Chile’s central bank lowered its 2026 growth projection for the third time this year. The economy is now expected to expand by only 0.25 percent to 0.75 percent.

RBI launches a pilot for instant tokenised bond settlement via eRupee to test future market infrastructure.

The European Central Bank increased its benchmark rate to 2.5%. Brent crude oil reached $105 per barrel. The US Federal Reserve is expected to hold rates at 3.5% to 3.75%. UK inflation stands at 2.9%. These moves reflect rising energy costs and persistent price pressure.

U.S. Treasury yields hit multi-decade highs in August. Corporate finance chiefs are abandoning the expectation of rate cuts. They are prioritizing internal liquidity over external borrowing.

The annual headline rate climbed from 3.12 percent in July, halting a four-month decline. Core inflation eased to 3.88 percent, remaining above the central bank’s target.

US federal debt hits $40 trillion as Treasury intervenes in the bond market.

The benchmark Canadian bond yield rose 5.6 basis points to 3.904% as crude oil prices climbed above $100 a barrel.

Treasury Secretary Scott Bessent's attempt to control the $32 trillion bond market backfired. The 10-year Treasury yield reached 4.93%, testing the limits of his rhetorical strategy.

SEBI and RBI have launched the Demat 2.0 pilot for tokenised corporate bonds, with REC Ltd leading the first phase. New official FAQs detail how the system will use existing demat accounts and CBDC wallets to enable faster, same-day settlements, having already processed over ₹1,000 crore in issuances.

Bank of America projects the Philippine economy will grow at 2.5% in 2026, tying it with Thailand for the slowest expansion in the region. Weak domestic demand and investment slumps drive the forecast, which falls short of government targets for the fifth consecutive year.

Türkiye's central bank kept its benchmark interest rate at 37% on Thursday. This marks the fifth consecutive meeting without a change as officials monitor geopolitical inflation risks.

The European Central Bank raised rates by 25 basis points, signaling a broader trend toward monetary tightening among G10 economies.

India’s 'Demat 2.0' pilot has successfully launched with initial issuances from L&T, REC, and IIFL, attracting institutional investors like SBI and Axis Bank, while regulators signal that the framework will soon expand to include gold and equities.

Sebi has launched Demat 2.0, a DLT-based pilot that has facilitated 1,025 crore INR in tokenised corporate bond issuances from REC, L&T, and IIFL. Unveiled jointly by RBI and Sebi leadership at the Global Fintech Fest, the system enables instant settlement via CBDC integration and marks the first time corporate bonds are issued natively on a distributed ledger within a country's regulated statutory depositories.

Silver prices hovered near $64.25, maintaining a tight range despite upcoming macroeconomic data releases.

Yields have surged 40 to 50 basis points since late June. This marks a shift in bond markets driven by structural economic changes.

Turkey has held its benchmark rate at 37% for a fifth consecutive month, with Governor Fatih Karahan citing geopolitical energy risks as a key factor despite slowing core inflation. Market participants are now closely watching oil prices as they anticipate a possible easing of monetary policy at the upcoming October 22 meeting.

The European Central Bank is poised to hike rates to 2.5 percent. This move contrasts with the Central Bank of Egypt’s expected pause on September 24.

New Delhi aims to advance the interoperability of central bank digital currencies among BRICS members during the September 2026 summit.

Treasury Secretary Scott Bessent’s warning to bond traders has failed to cool the market, with yields hitting new highs despite a Treasury buyback program that traders viewed as insufficient. The surge is attributed to robust private capital absorption by AI infrastructure projects and persistent inflation risks, signaling that the bond market remains unconvinced by Washington's interventionist stance.

The Australian dollar lost ground against the Japanese yen on Thursday, extending a four-day losing streak amid heightened geopolitical tensions.

Brent crude reached $101.28 per barrel Thursday, driving Asian stocks into a broad decline. The surge follows renewed conflict in the Strait of Hormuz and has intensified fears of persistent inflation.

The standard 60/40 asset allocation formula recorded a loss of 17.5% in 2022.

The benchmark rate stands at 3.00 percent following two consecutive quarterly increases. A board member indicated that policymakers will assess economic conditions before further action.

Brent crude reached $101.94 on September 10, triggering a sharp decline in Asian equity markets. The price surge stems from sustained military conflict around the Strait of Hormuz. Investors now fear higher inflation and aggressive central bank rate hikes.

The Bank of Korea maintains its benchmark interest rate at 3 percent while preparing for further increases due to sustained inflation and robust economic growth.

Retail investors bought 3.19 trillion won in bonds last month as foreign investors sold 839 billion won.

Interest rate markets price a 99% chance of an ECB hike. The Fed faces political pressure to hold. Global bond yields remain under pressure.

Indian banks mobilised $127 billion in FCNR deposits, exceeding the $50 billion target. The RBI hedges the principal, while banks manage interest exposure.

The European Central Bank is expected to raise rates by 25 basis points to 2.5% in September. This move serves as a precaution against second-round inflation effects.

The yield on 10-year Korean government bonds climbed to 4.313 percent in August, driven by the Bank of Korea's second consecutive interest rate increase.

The US Dollar Index holds steady as markets brace for PPI and CPI releases this week.

The Indian currency weakens to 95.25 per dollar as oil prices rise. Asian peers trade mixed while the dollar index holds near 98.81.

Oil remains above $100, fueling a broad selloff in Asian and US markets as investors fear persistent inflation and rate hikes. While energy stocks and Meta Platforms posted gains, the broader equity indices face pressure from record diesel prices, rising Treasury yields, and upcoming inflation data expected to show rates remaining above the Federal Reserve's target.

Asian markets fell Thursday as Brent crude broke past the $100 mark. Investors fear rising inflation will force central banks to hike rates.

Asian equities fell sharply as Brent crude extended its rally past the $100 mark. The price surge, driven by escalating hostilities in the Middle East, has intensified fears of persistent inflation and accelerated interest rate hikes by major central banks.

A 0.5 percentage point increase in lending rates adds approximately 6.5 trillion won to annual household interest costs in South Korea, according to Bank of Korea data.

Bank of Japan Board Member Masu stated that the Japanese economy is on a stable path.

US Treasury yields initially spiked to multi-year highs despite the announcement of a tripled $6 billion bond buyback program, signaling persistent investor caution. The expanded operation, targeting 10- and 20-year maturities for Thursday, follows a strong $39 billion auction that provided some temporary relief to the market.

The US Treasury's decision to triple its bond buybacks to $6 billion failed to lower borrowing costs, with 10-year yields climbing to 4.85% as investors remained unconvinced by the intervention.

ECB President warns that fragmented national strategies and passive acceptance of global shifts will undermine European economic resilience.

UBS projects the Bank of England will maintain its 3.75% benchmark rate on September 17 while adopting a more cautious stance.

Global crude benchmarks have crossed the $100 per barrel threshold. This external shock complicates the Reserve Bank of Australia's efforts to stabilize domestic prices.

A $1bn increase in national debt contrasts with a $121.2m fiscal deficit for the 2025-2026 budget year. Market observers demand clarity on where the borrowed funds are located.

The Reserve Bank of India adds five new currency pairs to its retail platform, aiming to reduce reliance on bank margins.

Despite the US Treasury tripling its September 10 buyback to $6 billion to stabilize liquidity, the 30-year yield has hit a 19-year high. New commentary from MoneyLion suggests the move may be inadequate, with analysts like Morgan Stanley expecting a larger intervention and others pointing to policy conflicts and persistent inflation as underlying drivers of the market stress.

Hungarian consumer prices rose 1.3% year-on-year in August, coming in below market forecasts and the central bank target.

Chile's central bank lowered its 2023 growth outlook to a range of 0.25% to 0.75%. This marks the second consecutive downward revision for the year.

US data shows a sharp break in the link between demand and prices. The response to economic tightness is now roughly four times higher than pre-2020 levels.

Nomura analysts project the Swiss National Bank will maintain its 0.00 percent policy rate indefinitely.

Gold spot prices have recently pulled back to $4,404.57 per ounce, though intraday data from Fortune shows the metal trading higher at $4,418 earlier today. This activity continues a broader trend where gold has surged over 25% since the beginning of 2025, solidifying its role as a key hedge against inflation.

The spot price of silver dropped to $66.23 per ounce on September 9, 2026. This marks a 0.25% decline from the previous close of $66.40. The metal remains 62% above its 52-week low despite the recent dip.

The People's Bank of China expanded its gold reserves by the largest amount since late 2023, signaling sustained institutional demand despite higher market prices.

The British Pound fell 0.3% against the Japanese Yen as markets priced in a 50 basis point rate increase from the Bank of Japan.

UBS maintains a constructive outlook on gold despite expectations for 50bp of Fed rate hikes, arguing that structural support from central banks and fiscal concerns outweighs near-term headwinds. The bank advises investors to view recent pullbacks as chances to build strategic positions, highlighting gold's role as a diversifier and hedge against inflation and geopolitical risk.

Chile’s central bank has held rates at 4.5% for the sixth consecutive meeting while significantly downgrading its near-term growth outlook to 0.25%-0.75%. Despite the weaker economic activity, officials remain confident that inflation will reach the 3% target by the second quarter of next year, limiting the immediate case for rapid rate cuts.

Brent crude has breached $100 amid renewed US-Iran hostilities, triggering a sharp spike in domestic fuel costs that now average over $4 for gasoline and near $6 for diesel. This sustained energy shock is intensifying inflation pressures and complicating the Federal Reserve's path, with officials signaling readiness to raise rates if incoming data confirms that price growth is not moderating.

Italian regulators have mandated zero-threshold sanctions screening for all crypto transactions, with Banca d’Italia formally ordering service providers to deploy strict internal controls. This regulatory crackdown aims to counter illicit flows, including the significant volume of sanctioned stablecoins and Iranian cross-border settlements identified by blockchain analytics firms.