Banking

  Bloomberg Colombia’s central bank raised borrowing costs for the third straight meeting as inflation accelerates amid forecasts for the biggest economic expansion in at least a century. The bank lifted its benchmark interest rate by half a percentage point to 3% in a split decision, Governor Leonardo Villar told reporters, adding that three of the seven board members voted ...

  Bloomberg The Bank of Japan (BOJ) ended the second year of the pandemic in a very different place to other major central banks. While the Federal Reserve and the Bank of England this week took aggressive steps to pull back from crisis aid, Governor Haruhiko Kuroda and his board slow walked it, extending assistance to struggling smaller businesses for ...

  Bloomberg Bank of America Corp (BofA) is turning to private jets and exotic cars to compete with American Express Co and JPMorgan Chase & Co and lure big spenders to its credit cards. The Charlotte, North Carolina-based company revamped its rewards program and debuted a new $550-a-year metal credit card that offers extra points on travel and dining purchases ...

  Bloomberg Poland is poised for a hefty increase in interest rates after a spike in inflation to a two-decade high convinced central bankers that spiralling price growth isn’t transitory. Since the Monetary Policy Council hiked the benchmark to 1.25% last month, all but two of its 10 members have suggested that they’re ready to act again. Of 32 economists ...

    Bloomberg JPMorgan Chase & Co is preparing to pay roughly $200 million to resolve the US regulatory investigations into the lapses over monitoring the employee communications. A settlement with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could be reached before year-end, according to people familiar with the matter, although the figure is preliminary ...

    Bloomberg Bank of Thailand is focused on aiding economic growth amid subdued inflation and is less worried about the US Federal Reserve’s monetary actions, Governor Sethaput Suthiwartnarueput said ahead of the central bank’s rate meeting next week. “Most of our rate trajectory will be dictated by domestic considerations,” Sethaput said, adding inflation, growth and financial system stability will ...

  Bloomberg Hungary said it would continue a cycle of interest rate hikes and shut down its quantitative-easing programs, removing brakes on one of the most aggressive monetary tightening campaigns in Europe. The forint extended gains against euro after the central bank said it has ended its programs for buying corporate and government bonds following a meeting. Deputy Governor Barnabas ...

    Bloomberg India’s central bank kept borrowing costs at a record-low to ward off risks to economic recovery from the omicron variant, while sponging away excess liquidity to keep inflationary pressures at bay. The Monetary Policy Committee voted to keep the benchmark repurchase rate at 4%, as predicted by all 35 economists surveyed by Bloomberg. The six-member panel, which ...

  Bloomberg UniCredit SpA intends to return at least $18.1 billion to shareholders by 2024, rolling out one of Europe’s most ambitious payout plans as part of Chief Executive Officer Andrea Orcel’s first strategy revamp. The Milan-based lender is seeking to distribute 100% of underlying profit in a mix of cash dividends and share buybacks on 2021 earnings, according to ...

    Bloomberg Reserve Bank of India (RBI) allowed Life Insurance Corp of India (LIC) to double its stake in private-sector lender IndusInd Bank Ltd., the company said in a filing to exchanges. The nation’s largest insurer can raise its stake in the bank founded by the billionaire Hinduja brothers up to 9.99% from the current 4.95%, the bank said ...