Bloomberg The European Central Bank’s bid to wean itself away from ultra-loose monetary policy may be challenged by an unlikely development: the creation of a new overnight borrowing rate. Ester, which the ECB will publish by October next year, will eventually replace Eonia as the risk-free rate. However, unlike Eonia that is still anchored by the deposit facility, the Ester …

Bloomberg The fastest wage growth in almost a decade is a sign that inflation pressures are building, but the Bank of England may not act until it gets clarity on Brexit. Data from the Office for National Statistics on Tuesday showed average earnings excluding bonuses rose 3.1 percent in the three months through August, the most since January 2009. While …

Bloomberg Goldman Sachs Group Inc. and Standard Chartered Plc have recently expanded the number of staff moving to Frankfurt by April as financial services firms accelerate their Brexit planning, according to people familiar with the matter. The decision came after the European Central Bank toughened its demands for how many people and IT resources it expects banks to have in …