Banking

Bloomberg European Central Bank (ECB) policy makers signalled they see euro-area inflation potentially exceeding forecasts as economy recovers and supply bottlenecks drive up input prices. The comments by three Governing Council members point to a more heated debate about the central bank’s current ultra-loose policy, with the pandemic-era bond-buying program set to expire by March next year. Their remarks will ...

Bloomberg Nigeria’s central bank left its key interest rate unchanged to support an economy that expanded at a slower pace than expected in second quarter. All 10 members of the monetary policy committee who attended its two-day meeting voted to keep the rate at 11.5% for the sixth straight meeting, Governor Godwin Emefiele said in a virtual briefing from the ...

Bloomberg Credit Suisse Group AG has become the latest lender to bet on Europe’s booming rental housing sector. The Swiss bank’s asset management arm is teaming up with real estate investor Mark to acquire and manage residential properties in city centers, according to a statement. The Doma venture seeks to raise an initial 350 million euros ($414 million). The partnership ...

Bloomberg Wells Fargo & Co delayed its return-to-office plans by another two weeks to early November. The firm, which has the biggest workforce of any US bank, will now begin bringing back employees who have been working remotely starting November 1, according to an internal memo from Chief Operating Officer Scott Powell. The bank had previously planned on beginning the ...

Bloomberg Deutsche Bank AG is reaching out to external candidates in its search for a successor to Chairman Paul Achleitner, after indications from several top internal candidates that they may not pursue the position. The nomination committee has been contacting people on a list compiled with help from headhunter Egon Zehnder International, people familiar with the matter said. The list ...

Bloomberg Commerzbank AG is poised to appoint Thomas Schaufler as its new retail head and Joerg Oliveri del Castillo-Schulz operating chief, filling two key roles as the lender seeks to put an end over a long period of management turnover. Oliveri del Castillo-Schulz would replace Joerg Hessenmueller, who is expected to vacate his post after facing criticism in recent months ...

Bloomberg Goldman Sachs Group Inc Chief Financial Officer (CFO) Stephen Scherr will depart the bank and end nearly three decades at the firm, paving the way for the latest round of executive reshuffling in the Wall Street giant’s highest rungs. Scherr, 57, who rose to CFO with the leadership change that brought in David Solomon as head of the firm, ...

Bloomberg Australia central bank chief Philip Lowe pushed back against investor bets on early interest-rate increases, arguing it will take time to drive faster wages growth and reiterating he doesn’t expect liftoff before 2024. “I find it difficult to understand why rate rises are being priced in next year or early 2023,” Lowe said in a speech to the Anika ...

Bloomberg China’s central bank is increasingly making use of one of its lesser known monetary policy tools to support the economy, a move that analysts say suggests less need for broad policy action like interest rate cuts. The People’s Bank of China (PBOC) is turning to its relending program, providing loans to commercial banks for lending to customers. The funds ...

Bloomberg The Swiss National Bank’s (SNB) negative interest rates remain essential to prevent a rise in the franc that thwart economic growth, Vice President Fritz Zurbruegg told Sonntagszeitung in an interview. Although the SNB will raise borrowing costs when necessary, “at the moment we need the negative interest rates due to the situation globally,” he said. “If we were to ...