Britain’s next budget will give incoming BoE governor Mark Carney more power to loosen monetary policy, reports the Financial Times. Chancellor of the Exchequer George Osborne will release the budget March 20, and is expected to review the BoE’s operations. Read: It’s time to be more accountable: Carney “Options include giving the Monetary Policy Committee […]
There are fears that the issue of currency wars may get undue attention at this week’s Group of 20 leading nations meeting in Moscow. Philipp Hildebrand, former chairman of the Swiss National Bank, urges participants in an opinion piece in FT.com to refrain from fanning the currency debate. He argues there is no such thing […]
The Bank of Canada today announced it’s maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. Insisting that some modest withdrawal of monetary policy stimulus will likely be required over time, consistent with achieving the 2% inflation target, the Bank’s Monetary Policy Report […]
The profit margins for U.S. banks have become wafer thin as the spread between their borrowing and lending rates has shrunk to the levels once seen in the 1950s. With the Federal Reserve’s keeping the interest rate at a historic low, banks are struggling to stay profitable, says a report in the Financial Times. Wells […]
The Bank of Canada is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%.
Scandal-ridden LIBOR may be losing its benchmark status now that a smaller group of banks are the ones setting it, reports Bloomberg. Read: Should LIBOR be scrapped? Submissions by Bank of America Corp., Citigroup Inc., Bank of Tokyo Mitsubishi UFJ Ltd., RBC, and Sumitomo Mitsui Financial Group Inc. have been used in setting the rate […]
It seems the pair of economic defibrillators – both generous bond buying and an extension of the near-zero interest rate horizon – applied by governments and central banks are working.
Surprising virtually no one, the Bank of Canada will maintain its target overnight rate at 1%. The corresponding bank rate will remain at 1.25% and the deposit rate will still be 0.75%.
The Bank of Canada has announced it will maintain its target for the overnight rate at 1%, holding the Bank Rate at just 1.25% and the deposit rate at 0.75%. While the global economic recovery is largely unfolding as expected, the Bank cited slower than anticipated growth in the U.S. as a concern. The Bank […]