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.

The reform of the reference rates in the eurozone to adapt to the new regulations, driven by the European Central Bank (ECB) along with other authorities, is taking shape. Today the ECB has announced a proposal for a new intraday rate as an alternative to the Eonia: the ESTER.

From its early days, the fate of Wall Street has been marked by the ups and downs of North American history. It has seen a fair share of upheaval, such as the devastating market crash of October 29, 1929, which led to the Great Depression, or the collapse of Lehman Brothers, ten years ago. But, what are the origins of this financial center? And how did it grow to become the powerhouse that it is today?

Advances in technology contribute to economic progress and have a direct, long-term impact on society's well-being. Clearly, digital transformation creates opportunities that improve both our lives and our businesses. BBVA shares this view: the bank has made a commitment to new technologies such as blockchain, which allow it to offer innovative financing approaches to its corporate clients.

Blockchain is one of the most disruptive new technologies in the world of finance. But currently its use in the sector is focused mainly on the underlying technology - Distributed Ledger Technology (DLT)- to create applications or redesign processes rather than in creating cryptoassets. The reason? Blockchain applications have the potential to improve the efficiency, transparency and traceability of processes while cryptoassets are volatile.

Anne-Joëlle Viguier-Galley is BBVA Compass’ Chief of Equity and Alternative Investments for the bank’s Global Wealth team. She also doubles as the Chief Investment Strategist for BBVA Wealth Solutions, Inc., the bank's investment adviser affiliate.