Banking

Bloomberg First it was the Federal Reserve. Then the European Central Bank (ECB). Now, India’s monetary authority may look to the Bank of England (OBOE)for ideas to revive growth, economists say. The Reserve Bank of India (RBI) could possibly draw inspiration from BOE’s Funding for Lending Scheme to jump start loan growth in the economy that’s set for its weakest ...

Bloomberg European equities are trading at fresh record highs, and JPMorgan Chase & Co strategists say the rally can go on and even expand to markets that have been left behind. The Stoxx Europe 600 Index closed at a historical peak last week after earnings optimism outweighed spreading coronavirus fears. To JPMorgan strategists, the fact that the European benchmark has ...

Bloomberg China’s central bank provided medium-term funding to commercial lenders and cut the interest rate it charges for the money, a move widely anticipated by analysts to cushion the economy from the virus epidemic. The People’s Bank of China offered 200 billion yuan ($29 billion) of one-year medium-term loans on Monday. The rate was lowered by 10 basis points to ...

Bloomberg “Nobody trusts you,” lawmaker Joerg Meuthen told European Central Bank (ECB) chief Christine Lagarde, switching briefly to English during a tirade in his native German. “You should be aware of that.” The far-right Alternative for Germany representative was railing about negative interest rates — and while enduring bluster is par for the course for ECB presidents, the February 6 ...

Bloomberg Singapore downgraded its forecast for economic growth for this year and plans to deliver a strong budget this week to counter the threat of the coronavirus outbreak on tourism and trade. The Ministry of Trade & Industry on Monday projected growth in a range of -0.5% to 1.5% in 2020, compared with a previous estimate of 0.5% to 2.5%. ...

Bloomberg German exporters are likely to suffer from the coronavirus outbreak in China that’s threatening to disrupt global supply chains, according to the Bundesbank. In its monthly report presented on Monday, the central bank painted a dire picture of the country’s state of affairs, arguing there are currently no signs that growth momentum will pick up in the first quarter. ...

Bloomberg An HSBC Holdings Plc employee in Hong Kong being held in quarantine tested negative for the deadly virus spreading out of mainland China. The staffer and their nuclear family members all tested negative for the coronavirus, according to an internal memo, confirmed by a company spokeswoman in Hong Kong. The virus has killed more than 1,700 people and infected ...

Bloomberg Just a month ago, global funds couldn’t wait to dump India’s sovereign bonds. Now, they’re rushing back at the fastest pace in more than two years. Foreigners bought 136.7 billion rupees ($1.9 billion) of the debt in the first two weeks of February, set for the highest monthly inflow since June 2017, according to data compiled by Bloomberg. They ...

Bloomberg The broad policy direction for many of the world’s central banks and governments now hinges on one question: how will the Chinese government respond to the economic shock caused by the coronavirus? The Communist Party’s elite Politburo has urged the nation to meet its economic targets this year, an imperative that could shake the government’s recent reluctance to fire ...

Bloomberg Switzerland’s biggest bank wants its airplanes back. For several months, UBS Group AG has sought to reverse a Moscow court decision allowing the seizure of two Bombardier Challenger 650 jets leased to brothers Dmitry and Alexey Ananiev, the former co-owners of Promsvyazbank PJSC. UBS faces powerful opponents: the Russian central bank, which spent 113.4 billion rubles ($1.8 billion) in ...