Joseph Cotterill @jsphctrl.ft.com · 6d Barclays ponders whether India's diaspora aren't buying the foreign currency deposits being promoted by the central bank to prop up the rupee (like in 2013, www.ft.com/content/2002...) because they've been too busy profiting from chipmaker stocks (until recently anyway):
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I am Indian diasporum ... and used to take advantage of these FCNR deposits ... e.g. 1 year GBP deposit paid ~5% last year, EUR paid 2.75%. But this year the bank changed rates so GBP deposit pays 4.15% (ChaseUK pays 4.5%) - doesn't make sense anymore. Barclays should read up about Earl of Ockham 🤷🏾
AI 'crowding out' everywhere I should think.