The Bank of England has increased interest rates by a quarter of a percentage point to 4.25 per cent, despite the turmoil that has engulfed banking in recent weeks. The rise, which was in line with economists’ forecasts, comes a day after the latest data showed that the annual rate of… Read Full Article Here […]
Investors’ bets on where UK interest rates will peak have shot higher over the past month, prompting an attempt by Bank of England governor Andrew Bailey to stop markets getting carried away. Futures markets are currently pricing in a jump in the BoE’s interest rate to just above 4.6… Read Full Article Here FT
Incoming Bank of Japan governor Kazuo Ueda confessed that he did not have a “magical” monetary policy solution to resolve the nation’s decades-long battle to spur inflation when he appeared in front of the Japanese parliament last week. But as the 71-year-old economist prepares to… Read Full Article Here FT
The Bank of Japan should be “creative” with its monetary policy and pursue interest rate normalisation if it appears able to sustain its 2 per cent inflation target, the central bank’s expected next governor Kazuo Ueda has said. Addressing Japan’s Diet on Friday for the first time since his nomination this month, the 71-year-old economist […]
Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning Joe Biden has nominated former Mastercard chief executive Ajay Banga as World Bank president, picking a Wall Street veteran raised in India to […]
As more banks and building societies opt to transition more of their services online, Britons will be seeing an increasing number of branch closures over the coming months. From HSBC to Natwest, up to 257 sites have so far been announced to close over the year, and the number only seems to be increasing. Since […]
China Renaissance, one of the country’s leading investment banks, was on Friday working to calm anxious employees following the disappearance of its founder and renowned dealmaker Bao Fan. Shares in the Hong Kong-listed company fell 50 per cent when the market opened on Friday before paring losses to be down about 28 per cent, after […]
In his final appearance at the Bank of Japan in April 2005, Kazuo Ueda said he considered himself lucky to have been a board member at “an extraordinarily difficult time”, as the economy battled a financial crisis and persistent deflation. Now about to return almost two decades later, Ueda faces an equally daunting but different […]
Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning World Bank president David Malpass will step down from his post at the end of June, nearly a year before his term expires. […]
World Bank president David Malpass will step down from his post by the end of June, nearly a year before his term expires, following sustained criticism over its response to climate change under his leadership. The bank issued a statement on Wednesday saying Malpass, who was appointed by former US president Donald Trump, had informed […]