Banking

Bloomberg The Bank of Thailand is prepared to use monetary policy if economic growth disappoints, its governor Veerathai Santiprabhob said. “In the short term, we are ready to use monetary policy if needed,” Veerathai said during a visit to Laos. “We are ready to act if growth fails to meet our expectations.” At the same time, he cautioned against taking ...

Bloomberg European Central Bank (ECB) President Christine Lagarde called for a new policy mix, saying public investment should be stepped up to ease the burden on monetary stimulus and ensure the region can thrive in an uncertain world. In her first major speech, three weeks into the job, the new ECB chief said her institution will continue to support the ...

Bloomberg The European Central Bank (ECB)warned of potential side effects from its loose monetary policy, highlighting how years of unprecedented stimulus designed to bolster the economy is contributing to an erosion of financial stability. Low interest rates have encouraged excessive risk-taking by investment funds and insurers as well as in some real estate markets, the ECB said in its semi-annual ...

Bloomberg India’s central bank has unearthed more than $450 million in extra bad loans at Yes Bank Ltd, the lender that is contending with a shadow-banking crisis and concerns over soured debt and capital. Gross non-performing assets assessed by the Reserve Bank of India (RBI) were 32.77 billion rupees ($457 million) higher than Yes Bank had disclosed as of March ...

Bloomberg HSBC Holdings Plc is set to replace its investment banking chief as part of an overhaul by interim Chief Executive Officer Noel Quinn, according to people familiar with matter. Samir Assaf, head of global banking and markets, will be moved to a non-executive role at the bank, said one of the people, who asked not to be named discussing ...

Bloomberg Zambia’s central bank raised its key interest rate for a second time this year, bucking a global easing trend, in a bid to support its currency and tame inflation. The Bank of Zambia increased the rate to 11.5% from 10.25%, Governor Denny Kalyalya told reporters in Lusaka, the capital. That’s the highest level since May 2017. The central bank ...

Bloomberg A federal jury in New York is set to start mulling the fate of former JPMorgan Chase & Co banker Akshay Aiyer, who is accused of conspiring with traders at other banks to eliminate competition by manipulating currency markets and boost their own profits. Over more than two weeks, prosecutors presented evidence highlighted by testimony from former Citigroup Inc ...

Bloomberg Hungary’s central bank left its monetary policy setup unchanged, ignoring a depreciation in the forint and a surge in core inflation in one of the European Union’s fastest-growing economies. The central bank, which has pledged to make substantial adjustments only on a quarterly basis, left the overnight deposit rate at -0.05%, matching economists’ predictions. It also left the parametres ...

Bloomberg While the Federal Reserve has said short-term interest rates are back under control following September’s upheaval, its solution may be having knock-on effects for money-market investors. The amount of cash that was parked at the central bank’s facility for overnight reverse-repurchase agreements spiked to $27 billion. That’s the most since the end of the first half of 2019, when ...

Bloomberg Zimbabwe’s central bank halved its key interest rate to 35%, joining the finance ministry in efforts to revive an economy hobbled by years of mismanagement. The decision reverses a move by the southern African nation’s newly formed Monetary Policy Committee (MPC) in September, which raised the rate from 50%. It follows the unveiling last week of the 2020 budget ...