As we commence the new year, it is impossible not to observe the escalating tension in global politics and the looming uncertainty surrounding monetary policies. In spite of these factors, there appears to be a sense of cautious optimism in the air following an examination of forecasts from major financial institutions. It is noteworthy how much has changed in just a year with regard to interest rates and growth projections.
The reality remains that high-interest rates continue to have an impact on numerous businesses, and it seems that 2024 may signify the onset of lower growth in certain key advanced and developing economies. The cost of debt for companies and sovereign governments remains high, with no clear indication of when or to what extent this may change.
In this month’s cover story, we delve deeper into private lending, an industry that is experiencing substantial growth and garnering increased interest from commercial banks. The focus is on the imminent and escalating risks for borrowers due to higher interest rates, and the potential impact on the lenders who cater to them. Additionally, two other features in this edition shed light on specific niches within the financial sector, such as AI in Finance, and an insightful interview with Sonny Singh, Executive VP and General Manager at Oracle Financial Services. Each feature provides valuable insight into key areas of growth and risk for financial services in the years to come, and the expanding role of technologies like AI.
Our latest issue also showcases the annual Foreign Exchange Awards, named in memory of our late colleague Gordon Platt, who was a seasoned expert in the sector. The ever-evolving landscape of globalization has transformed this into a dynamic sector, with trading solutions playing a pivotal role for the majority of our awardees. Technology has evolved into a more precise tool for managing currency fluctuations, accelerating the speed and capacity of executions.
It is worth mentioning that these insights come from Andrea Fiano, the Editor at Large, who has been a prominent figure in the financial industry for years. Her comprehensive analysis and observations offer a unique perspective on the current state of affairs.
As we navigate the terrain of the financial world in the forthcoming year, it is imperative to remain informed and cognizant of the potential risks and opportunities that lie ahead. By staying attuned to the insights and forecasts from experts in the field, we can better equip ourselves to make informed decisions that will shape the future of finance.
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