What China’s central bank and Costco shoppers have in common
[ad_1] Listen to this story.Enjoy more audio and podcasts on iOS or Android. Your browser does not support the <audio> element. Gold has always held an allure. The earliest civilisations used it for jewellery; the first forms of money were forged from it. For centuries kings clamoured to get their hands on the stuff. Charlemagne […]
Turkey’s new central bank governor seen as a ‘credible choice’
[ad_1] Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor, Fatih Karahan, has his work cut out for him, after being named to the job by presidential decree over the weekend following the […]
European Central Bank holds rates and trims its inflation forecast
[ad_1] BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Central Bank on Thursday held interest […]
European Central Bank to focus on shrinking its balance sheet
[ad_1] Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT — The European Central Bank meets this week with investors closely monitoring to see when the Frankfurt institution might start to cut interest rates. It will be too early to declare victory in the battle against inflation, but […]
Bank of England set to hold interest rates as economists debate 2024 cuts
[ad_1] A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England is all but certain to keep its main interest rate unchanged at 5.25% for a third consecutive meeting on Thursday, but economists […]
Michael Hudson: A BRICS+ Bank: How Would It Really Function?
[ad_1] Yves here. Michael Hudson explains in detail why much of the discussion of countries in the so-called Global South wanting to create new currencies is fundamentally misconceived. What they want and need to create is a mechanism for settling international payments imbalances, and not a new currency. This is a very important clarification and […]
Quelle Surprise! Bank Too Big to Fail Problem Not Solved as Lobbyists Scheme to Make It Worse
[ad_1] Yves here. Simon Johnson, former IMF Chief Economist and now a professor at MIT’s Sloan School, provides an update on the state of Too Big to Fail. The short version is that despite the de facto bailouts of Silicon Valley Bank and Signature Bank (by extending deposit guarantees to the rich who had no […]
Has the European Central Bank become too powerful?
[ad_1] Listen to this story.Enjoy more audio and podcasts on iOS or Android. Your browser does not support the <audio> element. “Nothing is possible without people. Nothing is lasting without institutions,” noted Jean Monnet, one of the European Union’s founding fathers. The growth of the European Central Bank (ecb) from humble beginnings, as the guardian […]
Italy’s tax on bank profit continues to prove controversial
[ad_1] European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax. Stefano Montesi – Corbis | Corbis News | Getty Images Italy’s shock tax on banks continues to prove controversial, even as the government insists it can improve it. Europe’s main bank stock index fell almost […]
Bank of England raises interest rates by 0.25 percentage points
[ad_1] The Bank of England has raised interest rates by 0.25 percentage points to 5.25 per cent and warned that borrowing costs are likely to remain elevated despite slowing inflation. The central bank’s Monetary Policy Committee voted by six to three on Thursday to take interest rates to a 15-year high, with two members preferring […]