Bank of Japan (BOJ) Governor Kazuo Ueda gestures as he speaks during a press conference at the central bank’s headquarters in Tokyo, Japan, Tuesday, Oct. 31, 2023. Kiyoshi Ota | Bloomberg | Getty Images Amid “extremely high uncertainties” affecting the world’s third-largest economy, Japan’s central bank is expected to leave its ultra-loose monetary policy unchanged … [Read more…]
2 hours ago Australia’s central bank considered raising interest rates in December but paused due to limited data: minutes The Reserve Bank of Australia considered a 25 basis point rate hike in December but ultimately decided to keep rates at 4.35%, central bank minutes showed. The RBA said the case for a rate hike was … [Read more…]
The European Central Bank left its key interest rates unchanged on Thursday, following the lead of the Federal Reserve and the Bank of England. The ECB left its main refinancing rate at 4.5% and its deposit rate at 4%. Earlier in the day, Bank of England policymakers left their key interest rate at 5.25% in … [Read more…]
22 minutes ago Norway’s central bank raises interest rates by 25 basis points Norway’s central bank said on Thursday it had raised its interest rates by 25 basis points, setting the key interest rate at 4.5%. Norges Bank Governor Ida Wolden Bache said in a statement that inflation remains too high despite the economic slowdown, … [Read more…]
Christine Lagarde, President of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT – The European Central Bank is meeting this week with investors who are closely watching when the Frankfurt institution might start cutting interest rates. It will be too early to declare victory in the fight against inflation, but with … [Read more…]
The Bank of Canada has decided to keep its key interest rate at 5% for the third consecutive day to continue its efforts to combat inflation. The Bank of Canada (BoC) says the country’s economic growth stagnated in the second and third quarters of 2023, that higher interest rates have “significantly” curbed spending and that … [Read more…]
A major Swiss bank admits it worked with U.S. taxpayers and others to hide more than $5.6 billion from the Internal Revenue Service. Banque Pictet, the private banking arm of the Pictet Group, has agreed to pay around $122.9 million in restitution and penalties in an agreement with prosecutors. If the bank complies with the … [Read more…]
Bloomberg/Getty Images Signage at the offices of Zhongrong International Trust Co. in Beijing, China, on Monday, August 21, 2023. Hong Kong CNN – The The problems of one of China’s largest private financial conglomerates have deepened as Zhongzhi is now the focus of a criminal investigation. Beijing police have launched an investigation into Zhongzhi Enterprise … [Read more…]
Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. Jun Ohta, chairman of Sumitomo Mitsui Financial Group and the driving force behind the bank’s recent wave of expansion in the United States and Southeast Asia, has died at the age of 65. Ohta’s death last … [Read more…]
The excess demand that has been driving up prices since inflation began has finally calmed down, according to Bank of Canada chief Tiff Macklem. He said this on Wednesday during a speech at the Saint John Regional Chamber of Commerce in New Brunswick, a day after announcing a slowdown in inflation in October. “We expect … [Read more…]