Banking

Bloomberg Australia’s central bank (RBA) kept monetary policy unchanged on Tuesday, clearing the field for the government to unveil a fiscal blueprint designed to drive the economy’s recovery from a Covid-induced recession. Reserve Bank Governor Philip Lowe kept both key interest rate and three-year yield target unchanged at 0.25%, as expected. The labour market is a key focus for the bank, ...

Bloomberg The Reserve Bank of India (RBI) will hold its delayed policy meeting this week after the government belatedly appointed new members to the interest rate-setting committee. The Monetary Policy Committee will meet October 7-9, the RBI said in a statement on Tuesday, more than a week later than originally planned. The RBI’s statement came after the Finance Ministry’s announcement ...

Bloomberg Deutsche Bank AG said its fixed-income traders are on track to match or beat the performance of their Wall Street peers, racking up a fourth straight quarter of revenue gains as a market rally that started late last year continues. Third-quarter trading revenue is “in line with or better” than the guidance for 12% growth that Wall Street peers ...

Bloomberg Unicaja Banco SA and Liberbank SA said they have held talks on rekindling a merger abandoned last year as consolidation gathers pace across Europe’s financial industry. Unicaja “confirms preliminary contact with Liberbank, with the knowledge of the board and without for the moment, the participation of external advisers,” the lender said in a regulatory filing. It said no final ...

Bloomberg Barclays Plc’s leadership reshuffle puts two of the likely internal contenders to replace Jes Staley in the spotlight. The pair, who will together lead the investment bank, inherit a daunting task. Chief Risk Officer C.S. Venkatakrishnan, known as Venkat, will head markets while Paul Compton will oversee banking operations. They are charged with executing Staley’s vision of sustaining a ...

Bloomberg Bank of France Governor and European Central Bank (ECB) policy maker Francois Villeroy de Galhau said the French government must be more careful about spending and debt that’s not linked to the novel coronavirus health-care crisis. The government must become more efficient as the pace of spending, stripping off Covid-19 measures, is accelerating “even more quickly” than before the ...

Bloomberg Unicaja Banco SA is moving closer to a long-mooted takeover of Spanish rival Liberbank as consolidation gathers pace among the nation’s financial institutions. The two banks have restarted informal talks with the help of advisers, according to people with knowledge of the matter, who asked not to be identified because the information is private. Liberbank is working with Deutsche ...

Bloomberg The Swiss National Bank (SNB) is facing intensifying national scrutiny for its work culture as lawmakers focus on emerging allegations of discrimination against women. Twelve female members of parliament have tabled a motion asking how the SNB aims to boost the number of female managers, what it’s doing to prevent ill treatment and whether it has an ombudsman to ...

Bloomberg Consumer prices in the 19-nation euro area fall more than economists forecast in September, keeping up pressure on the European Central Bank (ECB) as it debates whether to add stimulus to support the recovery from the coronavirus recession. The inflation rate came in at -0.3%, slightly below the median estimate in a Bloomberg survey. Prices for services were a ...

Bloomberg Australia’s central bank does little deliberation, ignores opposing views and its decision-makers “seem hostile to a consideration of evidence or research,” according to Peter Tulip, a former senior member of its economic research department. “We have a board that does not understand monetary policy or statistical research,” Tulip said in a farewell email to colleagues when he resigned from ...