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...“My thanks also go to the federal council, parliament and the public for their great trust in the SNB and for safeguarding its mandate and its independence.”...
...Growth and employment remain strong — so strong, in fact, that expectations for Federal Reserve interest rate cuts are being pushed further into the future....
...Having dropped plans for a new national budget this year, Sánchez has ordered officials to focus on a 2025 spending plan.Raymond Torres, director for macroeconomic analysis at Funcas, a savings bank foundation...
...England, European Central Bank and the Federal Reserve....
...From the bank: When can we expect sagging S&L tax revenues to moderate consumption and gross investment growth?...
...The bank commissioned former Federal Reserve chair Ben Bernanke to lead a review into its forecasting, and Lombardelli will be in charge of implementing any reforms that flow from it....
...Nearly 10 per cent of this balance was in serious delinquency (defined as 90 days or more late), according to the Federal Reserve Bank of New York....
...The caution reflects similar uncertainty in the US Federal Reserve and other developed-world central banks....
...in a brazen challenge to the US central bank’s independence....
...Belgium’s central bank said the decision was “highly exceptional and that this temporary solution is suboptimal, having regard to the principle of central bank independence”, and called on the government...
...Banks that failed to keep up have been left exposed. Between spring 2022 and 2023, the US federal funds effective rate soared from almost zero to more than 5 per cent....
...The central bank has held rates steady since July....
...First, the rise of fixed-rate loans — and pandemic savings — have stunted the impact of rate rises....
...No major central bank has pursued QT in this way. Both the Federal Reserve and the European Central Bank have opted only for the passive method of allowing their bonds to mature without replacement....
...The numbers that we saw on Friday really just did underscore just how lucrative the Federal Reserve lifting interest rates has been for the biggest US banks....
...The equivalent figure for the US Federal Reserve’s losses on domestic bond holdings was 13 per cent in June, while for the European Central Bank and the eurozone’s six largest central banks it was 13 per...
...He has been a Federal Reserve economist, a consultant to governments and to the IMF, a fellow at Brookings, and a member of the monetary policy committee of the Bank of England....
...Credit card delinquencies by consumers at large US banks have risen to their highest level since before the Covid-19 pandemic, underscoring the impact from rising interest rates and lower household savings...
...“You were unable to give any reason at all for looking into the bank accounts of people claiming personal independence payment,” Timms wrote....
...The investment bank’s Marcus saving accounts are still around despite the general unwind of Goldman’s retail thrust. They pay interest at an annual rate of 4.50 per cent....
...The potential threat to central bank independence from losses was “weak”, he said. “If a central bank asks for capital, it’s its own decision to do so....
...Belgrade-based Komercijalna Banka, owned by Slovenia’s NLB group, will no longer do that from February, leaving the market to Serbia’s post office and the Postal Savings Bank, also from Serbia....
...The Consumer Financial Protection Bureau is proposing to cap overdraft fees at as low as $3, potentially saving consumers billions of dollars a year and stepping up US President Joe Biden’s war on so-called...
...Optimistically, then, a recent blog from the IMF points towards enhanced central bank independence and improved policy framework, “closely aligned with IMF advice”, as perhaps the most important contributor...
...Solid wage increases in the UK have left the Bank of England cautious about cutting interest rates....
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