The Bank of England is likely to cut interest rates soon, “probably in August”, as long as inflation and wage data align with the Monetary Policy Committee’s (MPC) May forecasts, a former MPC member said on Thursday.
New rules to regulate Switzerland’s outsized banking sector and how to manage a huge balance sheet which risks massive losses top the list of challenges facing next Swiss National Bank chief Martin Schlegel, economists say.
Risk management in the private equity sector needs improving, the Bank of England said on Thursday, particularly as the period of low interest rates ends and leads to higher financing costs for risky debt in a highly leveraged industry.
British banks received a record 21.347 billion pounds ($27.01 billion) in funds from the Bank of England at its weekly short-term repo on Thursday, marking the 11th time in the past 14 repos that usage has set a fresh record high.
Indian banks’ capital position remains robust, supported by high profits, and their asset quality should further improve through March next year, a report released by the central bank on Thursday showed.
Singaporean bank DBS and Dubai-based lender Mashreq will collaborate to allow the Middle Eastern bank’s retail customers to make same-day, near-instant cross-border payments in certain markets, the two banks said on Thursday.
A rapid rise in derivative trading volumes in India could pose several challenges, a central bank report said on Thursday, adding to warnings of the financial stability risks that could emerge from a surge in retail participation in the country’s futures and options market.
UBS is making changes to its wealth management arm, the division’s new co-leaders Rob Karofsky and Iqbal Khan said in their first internal memo sent on Thursday and seen by Reuters.
