Markets

S&P: Warnings that cryptocurrency could crash the global financial system are ‘much ado about nothing’

S&P Global Ratings: Cryptocurrencies would have “an insignificant effect on global financial stability if its value were to collapse.” “If the value of cryptocurrencies dropped substantially, we expect retail investors would endure most of the impact.” But blockchain technology “could have a meaningful and lasting impact” on banking. LONDON — […]
S&P: Warnings that cryptocurrency could crash the global financial system are ‘much ado about nothing’
Markets

Standard & Poor’s is sceptical about the Australian government’s budget surplus plan

Standard & Poor’s today reaffirmed its AAA credit rating for Australian government debt, while maintaining its negative outlook. The global ratings agency said that Australia’s strong institutions and well-developed economy provided grounds to maintain the AAA rating: Along with strong institutions, a credible monetary policy, and floating exchange-rate regime, Australia’s […]
Standard & Poor’s is sceptical about the Australian government’s budget surplus plan