Banking

Bloomberg Poland’s central bank has repeatedly vowed to keep government borrowing costs low during the pandemic. Its quantitative-easing auction this week had the opposite effect. The National Bank of Poland unexpectedly refused to buy $1.2 billion of government bonds that investors offered to sell, sending the local debt market into a tailspin. The decision blindsided investors, sparking speculation that policy ...

Bloomberg Goldman Sachs Group Inc received approval from Chinese regulators to set up a wealth management joint venture (JV) in the world’s second-largest economy to go after an asset pool it estimated will surpass $70 trillion by the end of this decade. Goldman Sachs Asset Management will hold 51% in the venture, while wealth arm of Industrial & Commercial Bank of ...

Bloomberg China’s yuan advanced to a three-year high in onshore markets as the central bank signaled that it’s comfortable with a recent rally by setting a strong daily reference rate. The currency gained as much as 0.3% to 6.3913 per dollar in onshore markets, the highest since June 2018, while rising 0.4% offshore. The People’s Bank of China set its ...

Bloomberg Indonesia’s central bank left its key interest rate unchanged for a third straight month, pledging to rely primarily on liquidity tools amid signs of a tentative recovery in Southeast Asia’s largest economy. Bank Indonesia held the seven-day reverse repurchase rate at 3.5%, as all 29 economists in a Bloomberg survey predicted. The central bank has cut the policy rate ...

Bloomberg Investors will scrutinise forecast upgrades expected from the Bank of Korea (BOK) for hints about when the bank is likely to end its run of record-low interest rates. South Korea’s central bank is seen raising its growth and inflation projections significantly at its Thursday meeting after recent economic data beat expectations. Still, analysts see the bank holding its key ...

Bloomberg Deutsche Bank AG is moving about a quarter of its corporate bank’s UK staff to offices in the European Union and Asia as it looks to reduce costs at the division. The changes will see about 100 jobs move to cities like Berlin, Dublin, Frankfurt and various cities across Asia, according to people familiar with the matter, who asked ...

Bloomberg New Zealand’s central bank projected that its official cash rate may start to rise in the second half of next year, joining Canada in flagging a potential withdrawal of stimulus as economies recover from the pandemic. The kiwi dollar and bond yields surged. The Reserve Bank on Wednesday published OCR forecasts for the first time in more than a ...

Bloomberg Credit Suisse Group AG is considering special retention bonuses for top performers after the Greensill Capital and Archegos Capital Management scandals rocked the Swiss lender and set off a wave of departures. The firm’s top executives and board of directors are weighing moves to keep top performers — both junior employees and veteran rainmakers — after the incidents hit ...

Bloomberg European Central Bank (ECB) President Christine Lagarde played down the possibility of a major change away from the current stimulus settings when policy makers meet next month. “It’s far too early and it’s actually unnecessary to debate longer-term issues,” Lagarde said at a news conference in Lisbon, responding to a question on whether Europe’s economic rebound may lead the ...

Bloomberg China’s central bank said it will maintain the exchange rate of the yuan at “basically stable” levels after recent comments by its officials who suggested the currency be allowed to appreciate and authorities should eventually let up on controlling it. The future trend of the exchange rate will be decided by supply and demand, as well as changes in ...