Bloomberg Bank of England policy maker Kristin Forbes said there’s no need to hurry to add stimulus after the UK’S vote to exit the European Union, citing a moderation of the immediate market turmoil, calm consumers and “quite solid” growth before the referendum. “Given the substantial uncertainty and likelihood that growth slows, there is a valid case to ease ...

  Bloomberg Denmark’s biggest bank said profit slipped 1 percent in the second quarter, missing analyst estimates, as income all but stagnated. Danske Bank A/S reported net income of 4.26 billion kroner (US$631 million), missing the 4.32 billion-krone average estimate of analysts. Net interest income was broadly unchanged at 5.49 billion kroner, according to the Copenhagen-based lender. The bank said ...

  BLOOMBERG An increasing number of officials at the Bank of Japan are concerned about the sustainability of the current framework for massive monetary stimulus, according to people familiar with the discussions. Some current and former BOJ officials, including dissenting board member Takahide Kiuchi, have for some time publicly said that the central bank’s unprecedented scale of bond purchases and ...

  Bloomberg Indonesia’s central bank left its benchmark interest rate on hold after four reductions this year, while signaling there’s room for more easing to bolster growth in Southeast Asia’s biggest economy. Governor Agus Martowardojo and his board kept the reference rate at 6.5 percent on Thursday, as forecast by 10 of 26 economists surveyed by Bloomberg. The rest had ...

  Bloomberg Federal agents surprised an HSBC Holdings Plc executive as he prepared to fly out of New York’s Kennedy airport, arresting him for an alleged front-running scheme involving a US$3.5 billion currency transaction in 2011. Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, appeared in court on Wednesday after being held in a Brooklyn jail ...

  AFP Brazil’s central bank left unchanged Wednesday its benchmark interest rate as Latin America’s largest economy remains mired in recession and high inflation. The central bank, as expected, kept the key Selic rate at 14.25 percent, where it has been pegged for a year to support the flailing economy. The meeting of the Central Bank Monetary Policy Committee (Copom) ...

  As the U.K.’s new prime minister, Theresa May, met with Chancellor Angela Merkel of Germany on Wednesday to open informal Brexit talks that European Union leaders insisted would not take place, the key question concerns the strength of the negotiating positions. Both May and Merkel are no-nonsense leaders, and their interaction won’t be driven by emotion: It’ll be about ...

The U.K. decision to quit the European Union appears to be slowing the global recovery. But the government’s policy response put the domestic economy on a stronger footing than before, limiting Brexit’s negative impact on the rest of the world. Britain, previously Europe’s poster child for austerity, has an opportunity to augment the Bank of England’s monetary-policy efforts with some ...

  “Black money” — the colloquial name for a vast network of off-the-book cash transactions and unbanked savings — is one of India’s biggest scourges. Amounting to as much as $460 billion a year, bigger than the GDP of Argentina, all that money lies beyond the reach of the tax authorities, creditors and anti-corruption investigators. Efforts to bring it into ...

  Bloomberg Earnings continued to set the tone on global equity markets, as equities from Europe to the U.S. fluctuated with investors looking for evidence that economic growth is bolstering profits. Government bonds retreated after the European Central Bank signaled stimulus expansion was on hold. The S&P 500 Index swung between gains and losses after closing at its sixth record ...