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....The FPC highlighted rapid growth in UK consumer credit and “elevated” global risks, mainly due to rising debt levels in China, as the main threats to Britain’s banking system. The central bank launched a review into the credit quality of new lending – underwriting standards and the risk models used by banks – and said it would scrutinise these findings over the coming months. ... [Read full article on Guardian ]
Monday 27th of March 2017 09:26:41 AM
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....The government is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones. Kenyans can buy one of the bonds for as little as 3,000 Kenyan shillings ($30; £23), the country's central bank said. ... [Read full article on BBC ]
Thursday 23rd of March 2017 12:39:55 PM
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....Approvals dipped 1. 2% to 68,315 last month from 69,114 in January, the latest snapshot of lending from the central bank showed. ... [Read full article on Guardian ]
Wednesday 29th of March 2017 12:07:32 PM
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.... . The US central bank or Federal Reserve System is made up of 12 Federal Reserve Banks around the country. ... [Read full article on BBC ]
Wednesday 29th of March 2017 03:27:41 PM
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....With unemployment below 5%, earnings are already starting to pick up. The Federal Reserve, America’s central bank, has raised interest rates twice since Trump’s victory and will accelerate the pace of future increases if there is evidence that tax cuts are leading to wage inflation. ... [Read full article on Guardian ]
Sunday 26th of March 2017 07:02:24 AM
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Latest Finance News related to Central Bank

US shares mixed as dollar gets boost image
Source : BBC [Read Article] Wednesday 29th of March 2017 03:27:41 PM
.... . The US central bank or Federal Reserve System is made up of 12 Federal Reserve Banks around the country. ...
Mortgage approvals fall as UK consumers rely on credit to keep spending image
Source : Guardian [Read Article] Wednesday 29th of March 2017 12:07:32 PM
....Approvals dipped 1. 2% to 68,315 last month from 69,114 in January, the latest snapshot of lending from the central bank showed. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
....The FPC highlighted rapid growth in UK consumer credit and “elevated” global risks, mainly due to rising debt levels in China, as the main threats to Britain’s banking system. The central bank launched a review into the credit quality of new lending – underwriting standards and the risk models used by banks – and said it would scrutinise these findings over the coming months. ...
Kenya starts selling bonds via mobile phones image
Source : BBC [Read Article] Thursday 23rd of March 2017 12:39:55 PM
....The government is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones. Kenyans can buy one of the bonds for as little as 3,000 Kenyan shillings ($30; £23), the country's central bank said. ...
UBS charges customers to deposit euros image
Source : BBC [Read Article] Wednesday 22nd of March 2017 03:27:40 PM
....The ECB penalises banks that store euros with it in an effort to make them lend rather than hoard their cash. It imposes a so-called negative rate, equivalent to four euros annually on each 1,000 euros that lenders deposit with the central bank. ...
UK inflation rate leaps to 2.3% image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:34:06 AM
.... Well, maybe not, but the Bank's governor, Mark Carney, said pretty much the same when he was quizzed over today's jump in inflation. Actually, what he said was, "Look - single data point, you never overreact to a single data point," but then he is a central banker and not the author of the Hitchhiker's Guide to the Galaxy. ...
British banks handled vast sums of laundered Russian money image
Source : Guardian [Read Article] Monday 20th of March 2017 06:00:24 PM
....The involvement of Moldova’s banks in the scandal led to a political crisis that has seen five prime ministers come and go in the last two years. Former and current officials working at Moldova’s central bank were detained by prosecutors last August suspected of turning a blind eye to information on money laundering carried out through Moldindconbank. ...
The Ronald, the Donald – and a hamstrung Hammond image
Source : Guardian [Read Article] Sunday 19th of March 2017 06:59:01 AM
....Now the market is moving sideways again – and for the simple reason that, after watching and listening to Trump since his inauguration, it has priced in most of the gains investors believe he can make for them, which over the next few years will still be bountiful, but decidedly more modest than first predicted. That’s why America’s central banker, Janet Yellen, the head of the Federal Reserve, made it clear last week that US interest rates would rise to at most 1. ...
Stock markets soar across Europe as FTSE clocks up new high image
Source : Guardian [Read Article] Thursday 16th of March 2017 06:58:16 PM
. Stock markets across Europe soared as traders reacted to the defeat of an anti-EU candidate in Dutch elections and the latest interest rate announcement from the US central bank. ...
FTSE 100 closes at record high image
Source : BBC [Read Article] Thursday 16th of March 2017 03:47:19 PM
....In mid-afternoon trading the index was 38 points higher at 7,406 points. Neil Wilson at ETX Capital said the message from the US central bank was "the US economy is firing, but inflation is not going to be an issue. ...
UK interest rates kept on hold at 0.25% image
Source : BBC [Read Article] Thursday 16th of March 2017 12:38:45 PM
....Other MPC members noted consumers were turning more cautious amid slowing wage growth and rising prices. On Wednesday, the US central bank voted to increase interest rates, its second recent move upwards. ...
Bank of England keeps UK interest rates on hold as it warns on inflation image
Source : Guardian [Read Article] Thursday 16th of March 2017 12:10:58 PM
....25% base rate and electronic money-printing programme were appropriate to support the post-referendum economy amid signs that slower pay growth and rising inflation were damping consumer spending. The decision to hold rates in the UK comes a day after the US central bank, the Federal Reserve, raised interest rates to 1% and indicated that further increases this year were likely to keep rising inflation in check. ...
US interest rate rise signals end of ultra-low borrowing costs image
Source : Guardian [Read Article] Wednesday 15th of March 2017 07:31:25 PM
....For once, the market reaction was entirely rational. The increase in interest rates was expected and it would have been a real surprise had Janet Yellen and her colleagues at the US central bank decided against a move. ...
US Federal Reserve raises interest rates to 1% in bid to hold off inflation image
....75% to 1%. The central bank set aside concerns about the impact of higher interest rates on consumer spending to confirm analyst projections that it is prepared to increase rates several times this year to keep a lid on inflation as it rises above its 2% target level. ...
Charlotte Hogg resigns as Bank of England deputy governor image
Source : Guardian [Read Article] Tuesday 14th of March 2017 09:33:31 AM
....The Bank is expected to replace Hogg with two appointments – one as deputy governor and one for her former role as chief operating officer. Hogg is an Oxford graduate whose career prior to the UK’s central bank had included stints at high street lender Santander and at US bank Morgan Stanley. ...
Wanda's deal for Golden Globe firm collapses image
Source : BBC [Read Article] Monday 13th of March 2017 02:28:41 PM
....But the slowdown in China's economic fortunes has made the government more cautious. Last week, central bank governor Zhou Xiaochuan blamed the foreign investment wave on "overheated emotions". ...
US interest rate rise to deepen debt crisis in developing world image
Source : Guardian [Read Article] Monday 13th of March 2017 07:00:26 AM
. Developing countries are struggling with steep rises in their debt payments after being hit by a double whammy of lower commodity prices and a stronger dollar, with more pain to come once the US central bank raises interest rates this week, campaigners warn. ...
Trump is set to win the battle on interest rates, but US economy will pay the price image
....Donald Trump spent much of his campaign for the White House attacking the Federal Reserve chief Janet Yellen. Shouting at the camera in the first presidential debate, he even went as far as to accuse the head of the central bank of “being political”, spurring her to deny she was anything but impartial. ...
Markets in 'no doubt' on US rate rise image
Source : BBC [Read Article] Friday 10th of March 2017 10:33:01 PM
.... . It would be only the third time in a decade that the US central bank has increased rates. ...
US interest rate rise almost certain after bumper jobs growth image
Source : Guardian [Read Article] Friday 10th of March 2017 06:15:58 PM
....The US Federal Reserve is poised to raise interest rates next week for only the third time since the financial crisis after the latest job numbers for the world’s largest economy beat expectations. The closely watched Labor department data for February showed that the number of new jobs soared to 235,000, the best month for job growth since July last year, adding to pressure on the central bank to agree the first of three predicted rises this year. ...
US jobs report means Fed rate hike is a bolt-on certainty image
Source : Guardian [Read Article] Friday 10th of March 2017 03:03:04 PM
....The latest US jobs report removes any lingering doubts about whether the Federal Reserve will raise interest rates next week. Following news that the world’s biggest economy generated 235,000 net new non-farm jobs in February, it is a bolt-on certainty that the central bank will push up the cost of borrowing by a quarter of a point. ...
US jobs growth strengthens case for March rate rise image
Source : BBC [Read Article] Friday 10th of March 2017 01:36:59 PM
....Analysts said it lifted expectations that the US Federal Reserve would raise interest rates next week. Federal Reserve chair Janet Yellen said last week that the central bank could raise rates in March if employment and inflation figures met their expectations. ...
ECB's Draghi says 'more optimistic' on the outlook for the eurozone image
....The outlook for eurozone growth is "more optimistic", the head of the European Central Bank (ECB), Mario Draghi, has said. Accordingly, the central bank has raised its economic growth forecasts for this year and next, to 1. ...
Sorry, Brexit doomsayers, the outlook is good on global growth image
Source : Guardian [Read Article] Saturday 4th of March 2017 05:00:20 PM
....They also take a generous view of Donald Trump’s plans for tax cuts and infrastructure spending while dismissing his tub-thumping demands for a wall with Mexico and a trade war with almost anyone who wants to have a fight over tariffs. Across the road from the White House, the US central bank, the Federal Reserve, is firmly in the optimists’ camp. ...
Fed boss says US rates may rise in March image
Source : BBC [Read Article] Friday 3rd of March 2017 08:14:34 PM
.... . Ms Yellen also suggested the central bank was likely to raise rates more quickly than over the past two years. ...
Dow Jones breaks through 21,000 mark image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:48:45 PM
....Tom Stevenson from Fidelity International said the Dow Jones Index only cleared 20,000 points three weeks ago, making this the fastest rise between 1,000 milestones since 1999. Sentiment was helped by comments suggesting that the US central bank may raise rates sooner rather than later. ...
Wall Street stocks rise after Trump's corporate tax cut promises image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:42:20 PM
....The strength of the US economy also raised the prospect of an early interest rate rise, possibly following the Federal Reserve’s meeting later this month. New York Fed president, William Dudley, an influential figure on the central bank’s open market committee and close ally of chair, Janet Yellen, said the case for tightening monetary policy “has become a lot more compelling”. ...
Bank of England makes obscure tweak to mortgage rules... now you can get a BIGGER mortgage image
....Under the previous system, lenders had to be careful not to breach strict quarterly limits on the amount of mortgages that fall within the high loan to income bracket. But now the central bank changed rules so that providers can count the lending on an annual basis. ...
Will Trump build a wall protecting US banks from global rules? | Howard Davies image
.... If Basel becomes a talking shop, without the ability to set firm standards, another key link in the chain will be broken, and it will be harder for the UK to argue that if London’s banks meet international standards, they should be granted equal treatment in the EU. As central bankers bid farewell to the devil they know, financial regulation has entered a period of high uncertainty – and high anxiety for policymakers as they await an announcement from Mar-a-Lago. ...
Australia goes 25 years without recession image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:18:44 AM
...." . Estimates by the country's central bank point to economic growth rising to about 3% for 2017 on the back of recovering commodity prices. ...
The Bank of England fears it may not spot the next crisis. Here’s where to look image
.... Credit agency Experian, which monitors personal indebtedness, said the number of personal contract plans (PCPs), which allow buyers to pay a small deposit and then commit to making a monthly payment for three years with the option to buy or hand back the car at the end, has increased by 394% in five years. The central bank, which regulates lending, says it will take calming action before this lending bubble bursts. ...
Federal Reserve may raise US rates 'fairly soon' image
Source : BBC [Read Article] Wednesday 22nd of February 2017 10:25:49 PM
....Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the next increase was more likely to come in May than March unless there was a big increase in employment in February. The minutes also showed that a couple of Fed officials had suggested the central bank might need to alter the wording of its policy statement. ...
We are unlikely to spot next financial crisis, Bank of England official says image
. The Bank of England is unlikely to predict the next financial crisis, according to one of the central bank’s leading policymakers, who said economic models were unable to provide flawless forecasts for the UK economy. ...
A stock market crash is a way off, but this boom will turn to bust | Larry Elliott image
.... Rising inflation? A sign that the global economy is picking up speed, which is good for corporate profits. Hints from the Federal Reserve that it is contemplating another increase in US interest rates? An expression of confidence by America’s central bank in the health of the world’s biggest economy. ...
Bank of England will retain plastic £5 note, despite vegan protests image
Source : Guardian [Read Article] Wednesday 15th of February 2017 12:11:39 PM
.... Reprinting these notes would mean incurring these costs again, and there would be a further £50,000 cost for the secure destruction of the existing stock. The central bank said: “The Bank works hard to ensure that the public has enough secure notes to use in daily life and destroying the hundreds of millions of notes already printed would put this at risk. ...
Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:35:18 PM
.... Yellen agreed that some regulations were holding back some lenders, particularly community banks. The Fed chair gave an upbeat assessment of the US economy and signaled the central bank could raise short-term interest rates at its next policy meeting in March. ...
Bank of England appoints Charlotte Hogg as deputy governor image
Source : Guardian [Read Article] Thursday 9th of February 2017 05:57:26 PM
....The Bank of England has appointed Charlotte Hogg as its second most powerful executive, in a role that hands the former financier the task of keeping a check on Britain’s financial sector. Hogg has been appointed deputy governor for markets and banking, while consolidating her position at Threadneedle Street by retaining her current role as the central bank’s chief operating officer. ...
No big pay rises for Britons despite inflation, says Bank of England image
Source : Guardian [Read Article] Wednesday 8th of February 2017 12:15:18 PM
....Hopes of bumper pay rises as the economy shrugs off the effects of the Brexit vote appear to be dashed by a Bank of England survey that predicts a decline in wages growth this year. A report by the central bank’s regional agents found that the increase in average pay settlements, far from strengthening in response to higher inflation, will decline from 2. ...
Demand for gold hits four-year high after Brexit and Trump votes image
Source : Guardian [Read Article] Friday 3rd of February 2017 07:14:45 AM
....However, jewellery demand hit a seven-year low of 2,041. 6 tonnes in 2016 due to rising gold prices for much of the year, while central bank purchases were the lowest since 2010, due in part to increased pressure on foreign exchange reserves. ...
Bank of England sharply raises UK growth forecast image
Source : Guardian [Read Article] Thursday 2nd of February 2017 12:46:31 PM
.... It was also in stark contrast to the sharp slowdown predicted by the Bank and others in the immediate aftermath of the vote to leave the EU. But despite more optimistic forecasts, the central bank highlighted risks ahead. ...
Japan rejects Trump accusation of devaluing yen in currency war image
Source : Guardian [Read Article] Wednesday 1st of February 2017 06:48:52 AM
....The Japanese leader will propose a raft of new investments in US infrastructure that would create hundreds of thousands of jobs in sectors such as high-speed rail and shale oil development, Kyodo news reported. Japan’s central bank has been pursuing a super-loose monetary policy since Abe became prime minister four years ago, as it attempts to encourage consumer spending and lift the world’s third biggest economy out of its deflationary spiral – measures that have yet to pay off. ...
Ex-UBS and Citigroup trader jailed over Libor seeks review of case image
Source : Guardian [Read Article] Tuesday 31st of January 2017 07:00:15 AM
....During his City career, Hayes did not submit Libor rates – which are determined by collating a range of submissions from investment banks – but he was convicted because the crown alleged he had been the ringleader in manipulating those who did. In his letter to the Guardian, Hayes continued: “The only time Libor rates were dishonest and inaccurate was during what became known as the ‘lowballing’ period, when senior bankers and central bankers conspired to mislead investors about the banks’ solvency [by suggesting that they could borrow money cheaper than they really could in order to camouflage fears banks’ finances were under strain]. ...
Young people optimistic about economy despite Brexit, says study image
Source : Guardian [Read Article] Monday 30th of January 2017 07:00:46 AM
....Alan Clarke, an economist at Scotia Bank, said the path of inflation was proving hard to predict, but he believed Threadneedle Street would nudge its forecast higher to 3% at its meeting this week while keeping interest rates on hold. Most analysts believe the central bank will maintain its base rate at 0. ...
Strong dollar drags US growth to slowest pace since 2011 image
Source : Guardian [Read Article] Friday 27th of January 2017 02:15:35 PM
....Analysts said the uncertainty surrounding the outcome of last year’s presidential election and the UK’s Brexit vote meant that forecasts of trade and GDP growth were becoming cloudy and less predictable. The slowdown, even if it proves temporary, could also deter the Federal Reserve – the US central bank – from raising interest rates again until the picture becomes more certain. ...
Mark Carney: internet-only lenders pose risk to UK financial system image
Source : Guardian [Read Article] Wednesday 25th of January 2017 06:24:20 PM
....Speaking at a conference in Germany, Carney said digital money held out the prospect of allowing millions of people excluded from the mainstream banking system to access loans securely. Threadneedle Street has several initiatives under way to allow peer-to-peer online lenders access to central bank funds and facilitate transactions. ...
Buy, George? World's largest fund manager hires Osborne as adviser image
Source : Guardian [Read Article] Friday 20th of January 2017 04:53:41 PM
....“But in the communities that have been hit hardest by his austerity policies of the last six years, people will wonder, are we all still in it together?”. Osborne starts his job at the institute, which is run by Philipp Hildebrand, the former Swiss central bank governor and now BlackRock’s vice-chairman, on 1 February. ...
The Trump effect has rallied US markets – but it's based on illusion | Robert Shiller image
.... But hardly anyone focuses on these inflation-corrected numbers. The Fed, like the world’s other central banks, is steadily debasing the currency to create inflation. ...
IMF upgrades UK forecast but notes Brexit terms are 'unsettled' image
Source : Guardian [Read Article] Monday 16th of January 2017 02:00:25 PM
....But at the same time, with nationalist politicians gaining ground in some countries, the IMF warned against moving towards more inward-looking policies. Without naming Trump, who campaigned on an anti-globalisation platform and with the promise of a big infrastructure drive, the IMF said there was a risk that higher spending could force the US central bank to raise interest rates at a faster pace to contain inflation and that would push up the US dollar. ...
Sterling skids to three-month low on hard Brexit concerns image
Source : Guardian [Read Article] Monday 16th of January 2017 04:58:07 AM
....Later on Monday, Bank of England overnor Mark Carney, who has delivered a string of warnings about the potential impact of Brexit, will give a speech at the London School of Economics on the policy issues affecting the bank. The central bank cut interest rates to a record low and pumped fresh stimulus into the economy shortly after the Brexit vote, but it is now seeing inflation accelerate as a result of sterling’s slide. ...
ILO warns of rise in social unrest and migration as inequality widens image
Source : Guardian [Read Article] Thursday 12th of January 2017 09:00:07 PM
.... “Over the coming decade, the number of international migrants may increase further,” the report added. The ILO echoed central bankers and groups such as the International Monetary Fund in urging policymakers to stem the rise in unemployment by increasing state spending where possible and by addressing the root causes of the economic slowdown such as income inequality. ...
China crackdown sends Bitcoin sliding image
Source : BBC [Read Article] Thursday 12th of January 2017 01:04:34 AM
....Chinese spot checks on Bitcoin trading have hit the digital currency's value. China's central bank said it wanted to investigate market manipulation, money laundering and unauthorised financing. ...
Carney: Brexit risks now lower image
Source : BBC [Read Article] Wednesday 11th of January 2017 04:29:14 PM
....Mr Carney told the committee that economic forecasting had improved since the financial crisis, by being more pessimistic. "As you'd expect a bunch of dour central bankers to be, we're focused on the downside and less focused on how everything could turn out well, but what could go really wrong. ...
Rising inequality threatens world economy, says WEF image
Source : Guardian [Read Article] Wednesday 11th of January 2017 09:26:38 AM
....The WEF said it had been pointing out the dangers of rising inequality and political polarisation for more than a decade, but that the slow pace of recovery from the deep recession of 2008 had intensified income gaps within countries. Emergency measures such as quantitative easing – the creation of money by central banks – had become permanent features of economic policy, and had exacerbated inequality by boosting the returns of those holding financial assets. ...
Pound falls to 10-week low after Theresa May's Brexit comments image
Source : Guardian [Read Article] Monday 9th of January 2017 07:17:23 PM
....”. Analysts said separate to the pound’s decline, the dollar was strengthened after signs of higher wages in the December US jobs report, which is expected to persuade the US central bank to raise interest rates. ...
No one can afford to stop the new consumer credit crisis image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:05:11 AM
.... It has estimated that, nationally, workers are more than £2,000 a year worse off after inflation is taken into account than they were in 2008 and more than £4,000 worse off in London. This should tell the central bank and the Treasury that a rise to £192bn in unsecured consumer debt in November – only a little short of the £208bn peak – is most definitely a cause for concern. ...
Brexit wasn’t a ‘Michael Fish moment’: but economics does need to change image
....When the Bank of England looks around in a couple of years to replace Mark Carney as governor, Andy Haldane will need to work hard to win over the selection panel. The central bank’s chief economist can’t help attracting publicity, and not always in a good way. ...
US wage growth shows Trump will inherit solid labour market image
Source : Guardian [Read Article] Friday 6th of January 2017 03:07:43 PM
....The US economy added more than 2m jobs in 2016 and finished the year with a pick-up in wages, suggesting Donald Trump will inherit a solid labour market from outgoing president Barack Obama. The news of the strongest wage growth since 2009 also raised expectations that the president-elect’s first year in office will be accompanied by a series of interest rate rises from the US central bank. ...
Crash 'was crisis moment for economists' image
Source : BBC [Read Article] Thursday 5th of January 2017 11:13:41 PM
...."Remember that? Michael Fish getting up: 'There's no hurricane coming but it will be very windy in Spain. ' Very similar to the sort of reports central banks - naming no names - issued pre-crisis: 'There is no hurricane coming but it might be very windy in the sub-prime sector. ...
Chief economist of Bank of England admits errors in Brexit forecasting image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:52:01 PM
....Former Tory ministers, including the former foreign secretary William Hague and the former justice secretary Michael Gove, last year attacked the Bank of England governor, Mark Carney, for predicting a dramatic slowdown in growth if the country voted to leave the EU. Prominent Brexit campaigners have also besieged the central bank. ...
Global regulators postpone pivotal banking reform meeting image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 02:29:54 PM
....Global regulators have postponed a meeting to agree major reforms to the banking sector prompted by the 2008 crisis. A leading group of central bankers was due to meet on 8 January to agree changes that could have forced some banks, largely in Europe, to hold more capital, but it was announced on Tuesday that the meeting had been called off. ...
Bitcoin digital currency hits three-year high of $1,000 image
Source : BBC [Read Article] Tuesday 3rd of January 2017 10:52:23 AM
....The value of China's currency, the renminbi, fell by about 7% last year. In contrast, Bitcoin's value rose by 125% in 2016, making it the world's best-performing currency when compared with its central bank-issued peers. ...
Bitcoin tops $1,000 for first time in three years as 2017 trading begins image
.... Data show most bitcoin trading is done in China, according to Reuters. The currency is used to move money across the globe quickly and anonymously and is free of control from any central bank or government, making it attractive to those who want to get around capital controls. ...
Why the UK economy could fare better in 2017 than forecasters predict image
Source : Guardian [Read Article] Sunday 1st of January 2017 12:36:53 PM
....The Bank stepped in with a package of post-referendum support for the economy, but the government has been more hands off. Carney and other central bankers around the world have repeatedly urged politicians to do their share of the heavy lifting to bolster their economies with spending on infrastructure and structural reforms. ...
A tumultuous year: the 2016 global economy in 10 charts image
Source : Guardian [Read Article] Friday 30th of December 2016 04:04:05 PM
.... For evidence of what that means for banks’ share prices, look no further than Japan in 2016. Japanese banking stocks were already under pressure from years of electronic money printing by the central bank and tumbled further early in the year as the Bank of Japan imposed negative interest rates on them to encourage lending to businesses. ...
India sees long bank queues as rupee deadline passes image
Source : BBC [Read Article] Friday 30th of December 2016 03:10:11 AM
....Deadlines for spending the notes or swapping them for new currency have already passed. Some people, including those of Indian origin living abroad, will be able to exchange the notes in branches of India's central bank until 31 March 2017 - but the process will be more complicated than going to a regular bank. ...
Former Bundesbank president Hans Tietmeyer dies aged 85 image
Source : BBC [Read Article] Wednesday 28th of December 2016 05:12:54 PM
....He was a driving force behind creating the European Central Bank and the single currency. Mr Tietmeyer ran Germany's central bank from 1993 until his retirement in 1999. ...
Mark Carney's year in quotes: 'We are actors in a play written by others' image
Source : Guardian [Read Article] Wednesday 28th of December 2016 11:29:51 AM
....“The global general environment has become much more febrile, much more volatile, and relying on the kindness of strangers is not optimal in that kind of environment,” Carney told MPs. In February at a G20 meeting in Shanghai, Carney argued that central banks still had some firepower left to prop up the global recovery, but he warned that politicians must not rely solely on low interest rates and should use government policy to help boost growth. ...
Banking standards: treacherous political waters lie ahead image
Source : Guardian [Read Article] Wednesday 28th of December 2016 09:21:01 AM
....Against this background, it will be a challenge to retain the primacy of global standards and to secure continued buy-in to the Basel process. The Bank for International Settlements’ new general manager, Agustín Carstens, a former governor of Mexico’s central bank, will have a key role to play, as will whoever replaces Mark Carney – the governor of the Bank of England – next year as chairman of the FSB. ...
Fed's rate hike signals a déjà vu for 2017 image
Source : Guardian [Read Article] Friday 23rd of December 2016 08:00:11 AM
.... The masses are disillusioned citizens voting their frustration. That dichotomy is the difference between what central banks say and what people feel. ...
MPs are right to question Bank of England's monetary policy image
Source : Guardian [Read Article] Thursday 22nd of December 2016 01:26:00 PM
.... Low interest rates were designed to reduce borrowing costs for companies and individuals, and to persuade them to spend rather than save. Quantitative easing was a way in which central banks could counteract the sharp contraction in private credit creation by commercial banks. ...
MPs to review Bank of England's low interest rates since crash image
Source : Guardian [Read Article] Thursday 22nd of December 2016 12:20:36 PM
. The Bank of England’s policy of near zero interest rates since the 2008 financial crash is to come under scrutiny by MPs in a far-reaching probe that could lead to calls for changes to the central bank’s remit, it was announced on Thursday. ...
Christine Lagarde damaged but able to limp on at IMF image
Source : Guardian [Read Article] Tuesday 20th of December 2016 12:00:09 AM
....Finally, a decision to oust Lagarde would have resulted in considerable pressure on the IMF’s European shareholders to support a replacement nominated by a developing country. There would be two obvious non-European candidates: Agustin Carstens of Mexico, the newly appointed managing director of the Bank for International Settlements, and Raghuram Rajan, who recently stepped down as the central bank governor of India. ...
Moody's voices concern at 'material delay' in Greece debt relief talks image
Source : Guardian [Read Article] Monday 19th of December 2016 06:43:19 PM
....Greece’s bond yields have risen sharply since the ESM suspended its planned debt relief, with interest rates on 10-year bonds standing at just over 7%. Tsipras has been under pressure from Greece’s central bank to back down rather than risk an escalation of the tension. ...
US could wait until next summer to raise interest rates, say economists image
Source : Guardian [Read Article] Sunday 18th of December 2016 05:58:02 PM
....The Federal Reserve could wait until at least next summer before raising interest rates again, according to Wall Street economists surveyed by the Financial Times. Expectations that a rate rise last week by the US central bank would be followed by three more next year were played down by the 31 economists surveyed, who predicted only two rises were likely. ...

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