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Finance

Finance

As widely expected, the ECB concluded its monetary policy meeting yesterday without making any changes to its monetary policy stance. As BBVA Research’s ECB Watch report notes, there were other key takeaways that came out of the meeting, such as the end of the Asset Purchase Programming, and the confirmation that the bank is in no rush to hike interest rates. From an economic standpoint, the institution affirmed its inflation outlook but slightly lowered its growth expectations for the euro zone.

The Central Bank of the Republic of Turkey (CRBT) decided today to raise the official interest rate by 625 basis points from 17.75 percent to 24 percent. As a BBVA Research report points out, the hike came in above market expectations (21 percent according to Bloomberg consensus estimates), and BBVA Research’s own forecast (22.75 percent). BBVA Research welcomes the move and believes it should be backed up by a medium-term coherent and detailed fiscal plan.

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Understanding money seems simple enough, right? You earn it, you owe it, you spend it. Simple. But studies show that people who take the time to learn and understand some basic financial information are better off now and more likely to achieve their short- and long-term financial goals in the future.