Banking

Bloomberg European Central Bank (ECB) President Mario Draghi defended the results of two decades of European political and monetary integration against the return of “illiberal” policies and regimes. Speaking in his native Italy, where a euro-skeptic populist government is openly flaunting European Union rules, Draghi listed the euro’s successes, while admitting that not all have benefited equally from it. He ...

Bloomberg The Nordic listings market has cooled off in recent months, with several companies cancelling their initial public offerings amid plunging stock prices. But the biggest Nordic bank isn’t ready to call an end to an environment that has produced a record number of listings in recent years. “It’s far too early to say that the positive fundamentals for the ...

Bloomberg The Bank of England (BOE) is set to keep interest rates unchanged next week as the government flounders over its exit from the European Union. All but one of 60 economists in a Bloomberg survey predict the Monetary Policy Committee will maintain the benchmark at 0.75 percent when the decision of its nine members is announced. A unanimous vote ...

Bloomberg Mario Draghi said risks to the euro-area economy are worsening even as he called time on the European Central Bank’s flagship deflation-fighting tool. The ECB president told reporters in Frankfurt that while risks are still “broadly balanced,” they are now “moving to the downside” because of a range of concerns over geopolitics, trade protectionism and market volatility. The significant ...

Bloomberg Federal Reserve officials will pull the trigger on another interest-rate increase next week before slowing the pace of hikes in 2019 as risks to the US economy mount, according to a new Bloomberg survey of economists. They expect the Fed will raise rates by a quarter percentage point at its December 18-19 meeting while dialing back the number of ...

Bloomberg The Reserve Bank of India’s board bought more time to review the government’s demand for a greater say in the central bank’s functioning, one of the issues that had fostered hostilities between the two sides. “The board deliberated on the governance framework of the Reserve Bank and it was decided that the matter required further examination,” the central bank ...

Bloomberg Taiwan’s banks, voracious lenders to Chinese companies in recent years, are starting to cool their appetite as they contemplate the longer-term consequences of the US-China trade war. Faced with low interest rates at home, Taiwanese lenders — renowned for their clout in Asia’s syndicated loan market — poured across into the mainland, so much so that the local regulator ...

Bloomberg Germany’s Bundesbank expressed confidence that the economy will quickly overcome its latest slowdown, even though it cautioned that growing protectionism and a disorderly Brexit pose threats to the outlook. The central bank lowered its growth forecasts for 2018 and 2019 and also cut its inflation outlook for next year. Output in Germany, Europe’s largest economy, contracted in the third ...

Bloomberg The Federal Reserve is piling up unrealised losses on its $4.1 trillion bond portfolio, raising questions about its finances at a politically dicey moment for the independent central bank. The Fed had losses of $66.5 billion on its securities holdings on September 30, if it marked them to market, according to its latest quarterly financial report. That dwarfed its ...

Bloomberg A year ago, Tidjane Thiam asked Credit Suisse Group AG shareholders to stay with the bank through its restructuring. Those that did may still be left wanting more. Switzerland’s second-largest bank plans to buy back as much as 3 billion francs ($3 billion) of shares in the next two years, while increasing the dividend by at least 5 percent ...