Bloomberg Sumitomo Mitsui Banking Corp (SMBC) named Senior Managing Executive Officer Akihiro Fukutome as its next president, as the Japanese lender seeks to attract a younger generation of customers and build up businesses in Southeast Asia. The appointment will be effective from April, according to a statement from the core banking unit of Japan’s second-largest lender Sumitomo Mitsui Financial ...

  Bloomberg Norway’s central bank raised borrowing costs to the highest level in more than a decade, and signaled it still plans to hike its key interest rate to 3% at the beginning of next year even as the Nordic country faces a recession. Norges Bank lifted its key deposit rate by 25 basis points to 2.75%, the highest level ...

  Bloomberg The Swiss National Bank (SNB) raised its interest rate by 50 basis points, a third salvo against inflation that narrows the gap with the borrowing costs of global peers. Officials raised the benchmark to 1%, as predicted by a majority of economists surveyed by Bloomberg. Further increases can’t be ruled out, the central bank said. “There is a ...