Bloomberg Pakistan’s central bank unexpectedly left its benchmark interest rate unchanged after a second currency devaluation in four months. The target policy rate will stay at 6 percent, the State Bank of Pakistan said in a statement. The move was predicted by only three of 22 economists in a Bloomberg survey with rest expecting a hike. The central bank unexpectedly ...

Bloomberg John Thain, a former chief executive officer of Merrill Lynch, is expected to join Deutsche Bank AG’s supervisory board in May, according to a person with knowledge of the German lender’s plans. News of the board’s shakeup follows speculation that Deutsche Bank is seeking to replace Chief Executive Officer John Cryan. The CEO, who has been trying to restructure ...

Bloomberg Mario Draghi has six months left to prepare a retreat from ultra-loose monetary policy, and he has a ready-made roadmap on hand. The US Federal Reserve’s experience of halting quantitative easing, raising interest rates and starting to shrink its balance sheet provides both a blueprint and a cautionary tale for the European Central Bank president. It’s an easy example ...