The Federal Reserve should not cut its benchmark interest rate until the end of this year, Atlanta Fed President Raphael Bostic said on Wednesday, as he maintained his view that the U.S. central bank should reduce borrowing costs only once over the course of 2024.
Hedge funds capped the first quarter with gains across different strategies, as a rally in stocks, some commodities and the dollar helped the industry weather a less shiny period for bonds, investors said.
Standard Chartered has picked new regional heads, according to a person with knowledge of the matter, as the Asia-focused bank undergoes a major management reshuffle in its corporate and investment banking business (CIB) business.
South African policymakers are in discussions on lowering the central bank’s inflation target, its governor said on Wednesday, adding that a lower target would make the country more competitive and bring the central bank in line with peers.
China’s central bank on Wednesday announced revisions to car loans to promote auto trade-ins and scrap government-set minimum down payments for consumers financing new car purchases.
Reinsurance company Swiss Re said on Wednesday it would appoint its corporate solutions boss Andreas Berger as its group chief executive from July, replacing long-serving CEO Christian Mumenthaler.
UBS appointed three banking veterans to lead its equity capital markets (ECM) unit in the U.S., as the world’s biggest wealth manager looks to ramp up other divisions after its takeover of Credit Suisse last year saddled it with losses.
Ken Griffin’s hedge fund Citadel capped the first quarter with a positive performance in all its funds strategies, with the flagship Wellington fund posting gains of 5.75%, according to a source familiar with the matter.
