04292016Fri
Last update: Fri, 29 Apr 2016 01pm

Banking & Finance

Business & Finance - Banking & Finance

PBOC to inject 260bn yuan through 7-day reverse repos SHANGHAI: China's central bank will inject 260 billion yuan ($40.20 billion) into the money markets through seven-day reverse bond repurchase agreements on Thursday, traders said. Maturing reverse repos will drain a net 190 billion yuan from the banking system this week. The People's Bank of China conducted a net injection of 70 billion yuan into the banking system last week. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Ex-BoJ Iwata: BoJ must cut key rate to -1.0pc to beat deflation TOKYO: The Bank of Japan must lower its minus 0.1 percent interest rate to about minus 1.0 percent for the country to conquer deflation, a former deputy governor at the central bank said on Thursday. The BoJ should make negative interest rates its main policy tool because it is difficult to further expand government debt purchases due to losses the BOJ is incurring on these investments, former BOJ Deputy Governor Kazumasa Iwata told reporters. Households ...

Business & Finance - Banking & Finance

Commerzbank share falls after CEO warns of earnings decline FRANKFURT: Commerzbank said it expects first quarter earnings to be below those of the fourth quarter of 2015, hurt by low interest rates and capital market volatility at the start of the year, sending its shares sharply lower."In view of the clearly worsened environment, we are also reckoning with a cautious start to the year," Chief Executive Martin Blessing told the bank's annual meeting of shareholders on Wednesday."This will have an effect on the full ...

Business & Finance - Banking & Finance

Barclays set to skip replacing King as head of IB LONDON: Barclays is unlikely to formally replace Tom King as head of its investment bank, leaving chief executive Jes Staley in control of the business for the foreseeable future, people familiar with the matter said.A final decision has not yet been made but the bank is leaning towards not replacing King, who left on March 4. He had been CEO or co-head of the investment bank since May 2013 and made clear last summer he ...

Business & Finance - Banking & Finance

India's Rajan says FX intervention to continue to reduce volatility NEW YORK: The Reserve Bank of India will continue to use currency intervention to reduce volatility in the country's exchange rates, the bank's governor, Raghuram Rajan, said on Monday."There is a school of thought that says: Let the exchange rate move wherever it will," said Rajan, at the Inaugural Kotak Family Distinguished Lecture held at Columbia Law School in New York."That's something we could do," Rajan said. "But in emerging markets, with institutions not as ...

Business & Finance - Banking & Finance

Low inflation pushing down UK wage deals, Bank of England's McCafferty says LONDON: British wage growth is being pushed down by low headline inflation, but could bounce back fast once prices start to rise more quickly, Bank of England policymaker Ian McCafferty said on Wednesday.McCafferty stopped voting to raise interest rates in February and rejoined the consensus on the Monetary Policy Committee, as wage growth no longer looked likely to accelerate as fast as he had expected.In a speech at the central bank on Wednesday, he said ...

Business & Finance - Banking & Finance

Low inflation pushing down UK wage deals, Bank of England's McCafferty says LONDON: British wage growth is being pushed down by low headline inflation, but could bounce back fast once prices start to rise more quickly, Bank of England policymaker Ian McCafferty said on Wednesday.McCafferty stopped voting to raise interest rates in February and rejoined the consensus on the Monetary Policy Committee, as wage growth no longer looked likely to accelerate as fast as he had expected.In a speech at the central bank on Wednesday, he said ...