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Pakistan plans to curb central bank’s power to manage currency

Bloomberg Pakistan’s government plans to make the central bank report any planned currency adjustments to a committee, a move seen to curb the regulator’s independence as the nation negotiates an International Monetary Fund bailout. The State Bank of Pakistan has weakened the rupee for the fifth time this year and raised the key interest rate — roiling the stock market. ...

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Danske has $2.7bn capital buffer: CEO

Bloomberg Danske Bank A/S has built a capital buffer of as much as $2.7 billion to absorb potential fines as it deals with the fallout of its role in one of Europe’s worst ever money laundering scandals. Acting Chief Executive Officer Jesper Nielsen says the amount “significantly” exceeds what Denmark’s regulator has ordered Danske to hold in connection with the ...

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Carney defends BOE’s Brexit scenarios report

Bloomberg Mark Carney defended the publication of the Bank of England’s Brexit scenarios, telling Parliament that the institution couldn’t hold back its analysis once lawmakers had asked for it. The BOE had released a report on PM Theresa May’s deal and other Brexit outcomes. Its worst-case scenario for a chaotic exit sees the economy shrinking by 8 percent within a ...

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