A Labour Day holiday today in North America marking the end of summer and Houston mayor Sylvester Turner expects public services and businesses to be up and running Tuesday. Texas governor Greg Abbott estimates that hurricane damage to the state will be between $150 and $180 billion. US Treasury Secretary Steven Mnuchin has urged Congress to increase the government’s debt ceiling in order to free up money for hurricane Harvey damage.
Today Russia’s central bank has announced that it has new ways of ensuring that its banking system has adequate liquidity, Reuters reports. It can supply roubles for up to 90 days, at an annualised rate of 1.75 per cent, to offset ‘temporary liquidity difficulties after all other sources are exhausted’.
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