ZURICH (Reuters) -The Swiss National Bank said on Monday it is raising the minimum reserve requirement for domestic banks and will therefore amend the National Bank Ordinance as of July 1. “These adjustments will ensure that implementation of the SNB’s monetary policy remains effective and efficient,” the Swiss central bank said in a statement. Liabilities …
SNB raises minimum reserve requirement for domestic banks Read More »
By Jamie McGeever ORLANDO, Florida (Reuters) -Central bankers choose their words carefully, so recent comments from the Federal Reserve’s two most senior policymakers that U.S. monetary policy could stay “restrictive” rather than “higher” for longer should not be overlooked. While it may just seem like semantics, Fed Chair Jerome Powell and Vice Chair Philip Jefferson’s …
Powell’s ‘restrictive’ emphasis maximizes Fed flexibility: McGeever Read More »
BERLIN (Reuters) – Germany’s BDI flagged on Monday that industrial production is likely to decline again this year and exports will stagnate, as the industry lobby flanked by other groups painted an uncertain picture for German industry amid persistent headwinds. “Industry in Germany has not yet recovered from the cost and demand shocks, from moments …
Germany’s BDI warns industrial production to slump further in 2024 Read More »
By Ateeq Shariff (Reuters) – Most stock markets in the Gulf were subdued on Sunday amid geopolitical strife and uncertainties surrounding U.S. Federal Reserve policy. In its first ever direct attack on Israel, Iran sent a barrage of more than 300 missiles and drones on April 13 in what it said was retaliation for Israel’s …
Gulf markets subdued on geopolitical tensions, US rate cut concerns Read More »
ANKARA (Reuters) – Turkey’s central bank said on Saturday it had signed a memorandum of understanding with Brazil’s central bank to lay groundwork for enhanced cooperation. The memorandum was signed by the governors of the banks in Washington on Friday, the Turkish central bank said in a statement. Turkish and Brazilian central banks aspire to …
Central banks of Turkey, Brazil sign cooperation deal Read More »
(Reuters) – Just when it looked like rate cuts were coming any minute now, inflation has reared its head and the strength of the dollar is forcing other central bankers to protect their currencies and reconsider their policy choices. What appeared to be a dead cert a few weeks ago – the Federal Reserve embarking …
By Manya Saini and Jaiveer Shekhawat (Reuters) – U.S. mid-sized banks’ profits would remain under pressure for most of 2024, Wall Street analysts said, as higher deposit costs and muted loan growth drag their earnings. Regions Financial, Huntington Bancshares and Fifth Third Bancorp joined peers in reporting smaller first-quarter profits on Friday, due to a …
Wall St sees more pain ahead for US mid-sized lenders after dull Q1 Read More »
By Andrea Shalal WASHINGTON (Reuters) – The world’s poorest countries are facing debt distress and fiscal crises as foreign investment wanes and the gap with richer economies widens, risking political destabilization and unrest, the United Nations Development Program chief said on Thursday. UNDP Administrator Achim Steiner told Reuters that most Group of 20 major economies …
Widening development gap risks triggering destabilization, UN official says Read More »
By Shankar Ramakrishnan (Reuters) – Lenders are starting to ask for extra protection in junk-rated corporate loans to damp down on a growing practice among some stressed companies to engage in a creative financing technique that allowed them to raise new money, said a Moody’s report on Thursday. Over the past year, many junk-rated companies …
US creditors push back against some creative funding trades, Moody’s says Read More »
By Marcela Ayres WASHINGTON (Reuters) -G20 finance ministers and central bank governors are adjusting to expectations for a later start to U.S. interest rate cuts, which has caused a worldwide asset repricing and increased the urgency for debates on debt, Brazil’s finance leaders said on Thursday. Finance Minister Fernando Haddad told a press conference after …
G20 economies adjusting to delays in Fed rate cut, Brazil’s finance chief says Read More »
