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The Boston financial centre, pictured, was listed at number 9 of the 23rd Global Financial Services IndexPhoto: Roger Ward/Flickr.com 

The GFCI rates 96 financial centres around the world and this edition found: “There is an overall increase in confidence for the leading financial centres.”

The GFCI noted that a bias toward the stronger, more established centres was evident, with the top 25 centres all rising in ratings. London and New York remain at the top of the rankings, while western European financial centres remain volatile, the index revealed.

The top ten financial centres, according to the index, are (in descending order) London; New York; Hong Kong; Singapore; Tokyo; Shanghai; Toronto; San Francisco; Sydney and Boston.

Luxembourg’s ranking fell by seven places to 21, in comparison with the 22nd GFCI published in September 2017.