PHILADELPHIA Federal Reserve Bank President Patrick Harker on Tuesday said he feels the US central bank may soon be done raising interest rates, a year into its most rapid monetary policy tightening since the 1980s.
FEDERAL Reserve Bank of New York President John Williams said policymakers still have more work to do to bring down inflation and suggested they won’t change course despite uncertainty from turmoil in the banking sector.
UBS Group’s US$3.3 billion acquisition of rival Credit Suisse Group will transform it into a banking juggernaut at a bargain price, JPMorgan analysts said on Tuesday (Apr 11).
CENTRAL banks should not halt their fight against inflation because of financial stability risks, which look “very much contained,” International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters.
THE dollar gave back the previous day’s advances against the euro and pound on Tuesday (Apr 11) as traders turned their attention to US inflation data due on Wednesday for signs of how close US rates are to peaking.
THE US dollar gave back the previous day’s advances against the euro and pound on Tuesday (Apr 11) as traders turned their attention to US inflation data due on Wednesday for signs of how close US rates are to peaking.
CHINA’S new bank lending hit an all-time high in the first quarter of 2023, as the authorities kept policy accommodative and encouraged banks to lend more to businesses to support the economic recovery after the lifting of stringent Covid-19 curbs.
ALECTA’S chief executive officer Magnus Billing was forced to step down after Sweden’s biggest pension fund became one of the largest overseas casualties of the meltdown at Silicon Valley Bank.
CREDIT Suisse and UBS must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees’ Association (SBPV) said on Tuesday (Apr 11), in an open letter to the country’s parliament.
SINGAPORE state investor GIC will continue investing in US-Israeli fintech Pagaya Technologies for three more years, on top of an original five-year term.
