Banking

Bloomberg Turkey’s central bank Governor Murat Cetinkaya said on Wednesday that he expects inflation to accelerate in October and November, driven by a weaker currency and rising oil prices, before the rate starts to ease a month later. The lira declined on the comments. The central bank revised its year-end inflation forecast to 9.8 percent from 8.7 percent three months ...

Bloomberg Some of Europe’s biggest fund managers are set for a face-off on how best to trade the UK’s first potential interest-rate increase in a decade. Allianz Global Investors GmBH is looking to sell the pound into a rally, betting the Bank of England won’t signal further policy tightening given lingering economic and political risks. Fidelity International has a similar ...

Bloomberg Reforming the Reserve Bank of New Zealand’s monetary policy mandate could potentially result in lower interest rates, the new finance minister said. Requiring the central bank to target full employment as well as price stability when making rate decisions will ensure its objectives are more aligned with the well-being of New Zealanders, Grant Robertson said in a television interview ...

Bloomberg For thousands of brokers, traders and money managers based in the US, time is running out. A shock wave is about to emanate from Brussels, the capital of the 28-nation European Union. That may as well be the dark side of the moon for some toiling away at financial firms in the US A sweeping set of financial regulations ...

Bloomberg Goldman Sachs Group Inc. just got more bullish — and hawkish — on India. While the investment bank has for months been an outlier predicting monetary tightening in Asia’s No. 3 economy, it now sees the rate increases coming earlier than investors expect. That’s because the government’s plan to inject a record 2.1 trillion rupees ($32 billion) of fresh ...

Bloomberg The Bank of Japan left its massive monetary stimulus program unchanged even as it trimmed its inflation forecasts, signaling further divergence ahead from its global peers. Governor Haruhiko Kuroda and the board voted on Tuesday to maintain the central bank’s yield curve control program and asset purchases, a result predicted by all 43 economists surveyed by Bloomberg. The vote ...

Bloomberg BNP Paribas SA couldn’t avoid the trading slump that dragged down results at its biggest US and European competitors in the third quarter, as low interest rates and tepid demand from clients curbed activity. Income from trading bonds, currencies and commodities at BNP fell 26 percent to 801 million euros ($932 million) from a year earlier, based on figures ...

Bloomberg Bank of China Ltd. shares slumped the most in almost four months in Hong Kong after the lender failed to report the same improvements in asset quality as its rivals. The stock lost 3.2 percent to HK$3.90 as of 11:16 a.m. local time, paring its rally this year to 13 percent. Bocom International Holdings Co. and Huatai Securities Co. ...

Bloomberg PT Bank Central Asia is seeking to buy a mid-size lender as intensifying competition and a sluggish Indonesian economy prompt some owners to consider exiting the industry, according to the firm’s top executive. Southeast Asia’s largest lender by market value after DBS Group Holdings Ltd. has set aside about 4 trillion rupiah ($295 million) this year to finance an ...

Bloomberg HSBC Holdings Plc’s $100 billion bet on Asia is bearing fruit, driving its third consecutive increase in quarterly revenue just months before Chief Executive Officer Stuart Gulliver hands the reins to John Flint. Asia posted the biggest revenue gain among of the bank’s five regions, helping it report higher-than-expected third-quarter adjusted revenue of $13 billion. During the period, HSBC ...