Bloomberg Global central bankers made a concerted call for their independence from politics to be safeguarded, arguing government interference in mone-tary policy risked propelling inflation. With Turkey engulfed by a currency crisis partly driven by political efforts to influence interest rates, Federal Reserve Chairman Jerome Powell told a conference in Stockholm that he and counterparts shouldn’t take their independence for ...

Bloomberg The Philippine central bank cut the ratio of funds that lenders must hold as reserves, in line with a strategy outlined by Governor Nestor Espenilla to reform financial markets. The reserve requirement ratio was lowered by 1 percentage point to 18 percent, effective from June 1, Bangko Sentral ng Pilipinas said in a statement. The move, the second reduction ...

Bloomberg Deutsche Bank AG will cut a quarter of equities jobs and reduce overall positions by at least 7,000 as Chief Executive Officer Christian Sewing seeks to slash costs and boost profitability. The reductions will take the number of jobs at the Frankfurt-based lender to well below 90,000 and lead to a restructuring charge of as much as 800 million ...