Banking

  Bloomberg The European Central Bank (ECB) predicts wage growth — a key indicator of where inflation is headed — will be “very strong” in the coming quarters, strengthening the case for more interest-rate hikes. A study of salary developments since the start of the pandemic shows underlying pay growth has been “relatively moderate” and is currently close to its ...

  Bloomberg US authorities are digging into the internal financial dealings of Barry Silbert’s expansive crypto empire, according to people familiar with the matter. Federal prosecutors in Brooklyn are scrutinising transfers between Digital Currency Group (DCG) and an embattled subsidiary that offers crypto lending services, said the people, who asked not to be named because the probe hasn’t been made ...

  Bloomberg China reported an increase in its gold reserves for a second straight month, topping up holdings again after its first reported purchase in more than three years. The People’s Bank of China (PBOC) raised its holdings by 30 tons in December 2022, according to data on its website. This follows November’s addition of 32 tons, and brings the ...

  Bloomberg China’s economic growth will return to its “normal” path as Beijing provides more financial support to households and private companies to help them recover after the nation ended its Covid Zero policy. The world’s second-largest economy is expected to quickly rebound because of the country’s optimised Covid-19 response and after its economic policies continue to take effect, Guo ...

  Bloomberg Japanese Prime Minister Fumio Kishida said careful explanation and communication with markets would be part of consideration on monetary policy, when asked about possible future changes in the Bank of Japan’s ultra-loose policy. His comments in a live interview with public broadcaster NHK came after central bank governor Haruhiko Kuroda last month shocked markets by saying he would ...

  Bloomberg In a bid to force commercial lenders to participate in the domestic money markets, Sri Lanka’s central bank capped their ability to tap an emergency liquidity window to a maximum five times per month. “The Central Bank of Sri Lanka has decided to impose restrictions on the availability of the Standing Facilities to Licensed Commercial Banks under the ...

  Bloomberg Tanzania’s President Samia Suluhu Hassan appointed Emmanuel Tutuba the nation’s central bank governor, as she moves to tackle the rising cost of living. Tutuba, who has been working as permanent secretary in the Finance Ministry, replaces Florens Luoga after his term expired, according to a statement from the president’s office. The appointment takes immediate effect. Price-growth in the ...

  Bloomberg Czech central-bank Governor Ales Michl is intensifying his appeal on people and the government to help tame inflation by spending less so that policymakers can refrain from raising interest rates further. Inflation will slow considerably from spring and move towards the 2% target next year, with the central bank’s baseline scenario foreseeing stable borrowing costs and a strong ...

Bloomberg Credit Suisse Group AG is paying up to raise billions of dollars in the US and UK as the troubled lender relies on attractive terms to keep funding plans in place. The embattled Swiss lender’s New York branch sold $3.75 billion of two-year and five-year notes to yield 370 basis points over Treasuries, according to a person with knowledge ...

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) plans to set aside C$850 million ($628 million) to cover damages in a lawsuit with Cerberus Capital Management LP that it’s still fighting. The after-tax provision will reduce the bank’s Common Equity Tier 1 capital ratio by about 30 basis points, the Toronto-based bank said. CIBC reiterated that it plans to appeal ...