AGP Executive Report
Last update: 11 hours agoAI in Banking Hiring: Bloomberg reports major banks are cutting intake of junior analysts and pushing AI-driven screening, leaving graduates to navigate automated interviews instead of human recruiters. Global Growth Shock: The World Bank cut its 2026 global growth forecast to 2.5%, blaming the Iran-linked energy and inflation hit and warning of deeper downside if conflict spreads. ECB Turns Back to Rate Hikes: The European Central Bank resumed hikes, lifting borrowing costs by 0.25 points to 2.25% as Middle East energy pressures feed inflation. FX and Rates in Focus: Indonesia’s rupiah steadied after Bank Indonesia’s off-cycle benchmark hike to 5.5%, while China’s yuan use abroad remains resilient in a Bank of China poll. India Credit Momentum: India’s bank credit grew 17.44% y/y in May, extending double-digit expansion for a ninth straight month. RBI FCNR(B) Push: Banks are raising NRI dollar deposit rates after the FCNR-B revival, with Jefferies flagging potential upside for HDFC Bank. Fraud Watch: US prosecutors arrested an Indian-origin financier over an alleged $100m bank fraud using forged loan documents and manipulated records.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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