Central banking
Fed minutes point to ‘likely’ rate cut coming in September
Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, stopping short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” of participants at the July 30-31 meeting “observed that, if the data continued to come in about as expected, it would […]
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Taylor Swift London Eras Tour unlikely to move the needle on the Bank of England’s rate policy, analyst says
Taylor Swift performs onstage during “Taylor Swift | The Eras Tour” at Wembley Stadium on August 15, 2024 in London, England. Gareth Cattermole/tas24 | Getty Images Entertainment | Getty Images LONDON — Taylor Swift’s record-breaking Eras Tour may have led to a surge in restaurant and hotel bookings in the U.K. — but it’s unlikely […]
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Brits snap up lower mortgage deals as Bank of England rate cut boosts property market
Richard Newstead | Moment | Getty Images LONDON — Britain’s biggest high street lenders are continuing to slash borrowing costs after the Bank of England’s first interest rate cut in four years sparked a boom in homebuyer activity. Barclays, Halifax, HSBC and NatWest are among the lenders now offering five-year fixed rate mortgages of under 4%, below […]
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China leaves key lending benchmarks unchanged, as expected
BEIJING, CHINA – JUNE 13: A woman walks past the People’s Bank of China (PBOC) building on June 13, 2023 in Beijing, China. China News Service | China News Service | Getty Images China left benchmark lending rates unchanged at a monthly fixing on Tuesday, in line with market expectations. The one-year loan prime rate was […]
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New Zealand promises banking shake-up after watchdog finds the sector lacks competition
Pedestrian walking past the Reserve Bank of New Zealand building on Saturday, June 22, 2019. Birgit Krippner | Bloomberg | Getty Images New Zealand’s government on Tuesday promised a shake-up of consumer banking after the country’s watchdog said the sector lacked competition and suggested improvements including looking at ways to increase state-owned Kiwibank’s capital. The New Zealand Commerce Commission report released earlier found the country’s four largest lenders, all owned […]
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China’s bond market is rattled as central bank squares off with bond bulls
A “Buy Treasury bonds” poster is seen at a bank in Haian, East China’s Jiangsu province, Aug 1, 2024. Cfoto | Future Publishing | Getty Images China’s bond market, the world’s second largest, is on edge following a turbulent week in which the central bank started intervening heavily to stem a plunge in yields even as the economy is struggling. […]
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10-year Treasury yield dips as traders weigh state of U.S. economy after latest data
U.S. Treasury yields were lower Friday as investors continued to assess the state of the U.S. economy after labor data buoyed sentiment. The yield on the 10-year Treasury was around 6 basis points lower at 3.938% at 8:57 a.m. ET, nonetheless holding near the level it was at last week before a weak U.S. jobs report helped trigger […]
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India central bank asks top lenders to refrain from large trading bets against rupee, Reuters reports
An undated editorial illustration of Indian rupee cash bills and a stock market indicator board. Javier Ghersi | Moment | Getty Images The Reserve Bank of India has asked some large banks to not add to their existing positions against the rupee in a bid to support the currency which has fallen to all-time lows for three straight days, four bankers told Reuters. Officials from the RBI’s financial […]
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Bank of Japan won’t raise rates when markets unstable, deputy governor says
The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. Kazuhiro Nogi | Afp | Getty Images Bank of Japan Deputy Governor Shinichi Uchida said on Wednesday the central bank won’t raise interest rates when financial markets are unstable. The recent strengthening of the yen would affect the BOJ’s policy decision because it reduces upward pressure on […]
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Kenya central bank cuts main lending rate by 25 basis points
Nairobi cityscape – capital city of Kenya, East Africa Jacek_sopotnicki | Istock | Getty Images Kenya’s central bank cut its benchmark lending rate by 25 basis points to 12.75% on Tuesday, saying there was scope for a gradual easing of its policy stance while ensuring continued exchange rate stability. “The MPC (Monetary Policy Committee) noted […]
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