Banking

  Bloomberg Peru raised interest rates for a 15th straight month in a bid to get inflation back under control and limit the risk of capital flight as the US Federal Reserve withdraws stimulus. The central bank raised its benchmark rate by a quarter of a percentage point to a two-decade high of 7%, in line with expectations. That’s up ...

  Bloomberg The Czech Finance Ministry told the country’s largest banks it plans to impose a windfall tax on them to fund energy subsidies, according to a summary of the meeting. The government would apply a tax rate of 60% on lenders’ extraordinary profit, seeking to raise about 25 billion koruna ($1 billion) a year, according to a note summarising ...

  Bloomberg New Zealand’s central bank is poised to raise interest rates by half a percentage point for a fifth straight time, and some economists are tipping it will need to keep tightening well into next year as an aggressive Federal Reserve weakens the kiwi dollar. The Reserve Bank will lift the Official Cash Rate to 3.5% from 3% in ...

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) named Chief Risk Officer Shawn Beber as the new head of its US division and tapped Susan Rimmer to lead the company’s global corporate and investment banking franchise. Current US chief Mike Capatides will take over as the bank’s vice chair in the country when the changes become effective on November 1, ...

  Bloomberg The Philippine central bank said it is taking steps to “manage any disruption” in the financial market, as it asked people not to take undue advantage of developments. “We ask those who have the means not to take undue advantage of changing market conditions,” Bangko Sentral ng Pilipinas said in an emailed statement. “This does not help the ...

Bloomberg Asia’s financial hub is letting people go on a proper holiday for the first time since the pandemic began. For bankers in Hong Kong, the chance to take a break also speaks to a steep fall in dealmaking activity — in the city, and across the region. While the decline has been global, it’s been particularly acute in Asia ...

Bloomberg Indonesia’s central bank could settle for quarter-point moves at its upcoming policy rate meetings after September inflation came in lower than estimates despite the fuel price hike, economists said. Maybank Investment Banking Group trimmed its forecast for Indonesia’s 2022 average inflation to 4.5% from 5.2%. To be sure, the increase in transport fares and the rebound in consumer demand ...

  Bloomberg China’s financial regulators told the nation’s biggest state-owned banks to extend at least 600 billion yuan ($85 billion) of net financing to the embattled property sector in the final four months of this year, according to people familiar with the matter, in their latest attempt to address a deepening liquidity crisis. The People’s Bank of China (PBOC) and ...

  Bloomberg Kwasi Kwarteng signed off on £100 billion ($113 billion) of bond buying by the Bank of England (BOE) as the market fall into turmoil last week, higher than the size of the plan announced by the central bank and an indication of the level of concern among officials about volatility in the gilt markets. The BOE took emergency ...

Bloomberg HSBC Holdings Plc is exploring a sale of its operations in Canada, the latest move to streamline the lender that is seeking to head off a call by its largest shareholder to split up. A potential sale of HSBC’s 100% equity stake in HSBC Bank Canada is among the options being explored, the lender said in a statement. The ...