Banking

Bloomberg It was President Donald Trump who dominated the headlines in monetary policy over the past 10 days with his choice of Jerome Powell to chair the US Federal Reserve. Yet the club of central bank chiefs the American is set to join has been making plenty of news. The Fed, now helmed by Janet Yellen, left itself on course ...

Bloomberg Mark Carney is tying the Bank of England’s next interest-rate shift to the success of Brexit negotiations. After raising interest rates for the first time in more than a decade, the governor said the pending divorce from the European Union is the main risk to the outlook, aggravating existing weaknesses that have hobbled the economy and holding back potential ...

Bloomberg Bank of America Corp. made the legal leap required to untangle what US clients are charged for research and trading, bringing to America a version of the changes being forced on markets in Europe. Its Merrill Lynch unit added the firm’s research department to an existing investment adviser registration late on Thursday, according to a document on the US ...

Bloomberg Italian bank executives and central bankers, take note: people trust you less and less. Just 16 percent of Italians have confidence in the country’s lenders, down from an already meager 17 percent in June, according to a poll by the SWG research group of Trieste. Only 24 percent trust the Bank of Italy, plunging from 36 percent in June. ...

Bloomberg One week after Nordea Bank AB said it will cut 6,000 jobs in a digital bet, a key investor says the rest of the industry would do well to watch and learn. Sampo Oyj, Nordea’s biggest owner with about one-fifth of its stock, says digital adequacy is overtaking capital adequacy as a top consideration for investors. “In the Nordics, ...

Bloomberg China’s central bank moved to stabilize money supply, capping a week that began with a bond rout and more than 1 trillion yuan ($151 billion) of loans due to mature. The People’s Bank of China offered 404 billion yuan of one-year funds under the Medium-Term Lending Facility, compared with 207 billion yuan of maturities, according to a statement on ...

Bloomberg BNP Paribas SA is finding it harder to evade the trading slump that’s engulfing rivals. After emerging almost unscathed from the period of low volatility that weighed down Wall Street firms and European investment banks earlier this year, the Paris-based lender posted a bigger-than-expected 17 percent drop in trading revenue in the third quarter, or 15 percent on a ...

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 ...