Banking

Bloomberg Australia’s central bank expects to see solid employment growth ahead as the economy gradually picks up, while noting risks from housing debt outpacing household income. In minutes of this month’s policy meeting, where interest rates were left unchanged, the Reserve Bank of Australia gave no signal policy was set to change any time soon. Employment growth had been broadly ...

Bloomberg A public rift between Thailand’s central bank and government on interest rates shows just how much of a dilemma the baht has become for the economy. The Finance Ministry is pushing the Bank of Thailand to cut interest rates to stimulate growth, in light of the strength of the currency and low inflation. That’s clashing with the bank’s aims ...

Bloomberg The pound’s dramatic reversal of fortunes this month has left analysts racing to catch up. Strategists are revising their estimates for the currency after its best week since 2009 saw it gain almost 3 percent as the Bank of England signaled it would look to withdraw stimulus “over the coming months.” Sterling touched $1.36 on Monday, while the median ...

Bloomberg The bitcoin rally is proving hard to stop. The cryptocurrency has breached $4,000, soaring more than 20% from the lows reached Friday, as concern eases that a crackdown by Chinese regulators will hinder the growth of the alternative method of exchange. After reaching a record high of $4,921 on 1 September, the digital currency fell as low as $2,975 ...

Bloomberg The Bank of Canada gave the strongest indication yet it is concerned about the Canadian dollar’s recent gains, with a top official saying policy makers will closely monitor the currency’s impact on the economy. In the bank’s first public remarks, since raising interest rates, Deputy Governor Timothy Lane spoke to a business audience in Saskatchewan where he outlined the ...

Bloomberg China’s central bank is drafting a package of reforms which would give foreign investors greater access to the nation’s financial services industry, according to people familiar with the matter. The People’s Bank of China will convene an internal meeting on Tuesday to discuss its proposals and get feedback from Chinese institutions, said the people, who asked not to be ...

Bloomberg The world’s central banks can’t ignore the growth in cryptocurrencies and may at some point have to consider whether it makes sense for them to issue their own digital currencies, according to the Bank for International Settlements (BIS). “Whether or not a central bank should provide a digital alternative to cash is most pressing in countries, such as Sweden, ...

Bloomberg Egyptian Central Bank Governor Tarek Amer said inflation in the most populous Arab country has peaked after policy makers responded to the surge in prices by raising borrowing costs to the highest level in more than a decade. “We are in the right direction and we are moving very fast,” Amer said in an interview on Monday. “We’ve been ...

Bloomberg Europe’s desire for a new institution that can keep an eye on government finances and rescue programs might be gaining momentum — if political leaders can only come up with a better name. The term ‘European Monetary Fund’ has become so entrenched that it was included in European Commission President Jean-Claude Juncker’s State of the Union address last week, ...

Bloomberg Ten years ago, a lender called Northern Rock, bloated with billions of pounds of risky mortgages, received emergency support from the Bank of England after the short-term funding it relied on dried up. Depositors lined up outside branches to get their money back, the first run on a British bank in 150 years. It was the start of a ...