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...Poor data undermines trust and skews forecasting — as several central banks, including the Bank of England, discovered when it came to inflation....
...So this new Bank of England Working Paper by Jamie Long and Paul Fisher is worth bookmarking....
...The bank sounded one note of caution on its car financing business Arval — an area where French rivals Société Générale and Crédit Agricole are also big operators — saying used car values were now falling...
...But it will discontinue purchases of exchange traded funds and Japanese real estate investment trusts....
...Central banks take centre stage this week, Benjamin Netanyahu defies western allies over his strategy in Gaza, and the US National Labor Relations Board is facing challenges from some major companies....
...Telecoms was one element of the strategy; the bank also took stakes in energy company Amber, retail business Little Birdie, and Swedish buy now, pay later provider Klarna....
...“Banks will be taking this on board and looking at how they currently consider exposure levels and what enhancements can be made in line with the Bank of England’s letter and findings,” it added....
...The bank found itself in the uncomfortable position of being one of the largest shareholders in many of the world’s biggest companies, including Apple, Microsoft and Facebook....
...Banks needed to invest in stimulating British business, he added, by providing financing for early-stage companies to help them grow and eventually list....
...The ECB’s new system is a hybrid between the one used by the US Federal Reserve, which plans to keep a large enough bond portfolio to maintain sufficient bank liquidity, and the Bank of England, which is...
...Seven banks — out of 45 then operating in the country — have been granted presidential approval, including Mercedes-Benz Bank, Ikano, J&T and Intesa....
...Few central banks have emerged from the past three years of inflation fighting with the same credibility they had before. The Bank of England has had a particularly hard time....
...Panetta told an ECB event in Frankfurt that it was an “important question” to what extent the central bank’s policy could diverge from the Fed, and he warned of the dangers of failing to account for the...
...“The bank must be proactive in encouraging a diversity of views and a culture of challenge.”...
...The north of England and Scotland also posted strong annual increases of 4.1 per cent and 3.7 per cent respectively....
...Microsoft has hired the co-founder of Google’s DeepMind, the Bank of Japan raised interest rates for the first time since 2007, and leading European and UK artificial intelligence start-ups have been lobbied...
...“This will amount to a profound change to the way the bank handles monetary policy,” said Jens Larsen, a former BoE official who is now director of geoeconomics at Eurasia Group consultancy....
...“It will take a lot of very bad inflation and wage data for them not to do that now.”...
...“Taken together, the absence of news and the passage of time have brought a Bank Rate cut somewhat closer,” Pill said on Tuesday....
...The market is now expecting between one and two quarter-point cuts this year, compared with the six or seven cuts predicted in January....
...into bank parent companies....
...The lenders, which have so far refused to extend the loan without an injection of fresh equity from Thames Water’s owners, are Chinese state-owned Bank of China and Industrial and Commercial Bank of China...
...Revenue from the bank’s huge bond and commodities trading unit, one of its biggest money generators, fell 10 per cent in the quarter....
...Instead, they said consumer spending remained strong, and much of the drop in lending came from large companies, which have used their excess cash, or better markets, to pay down debt....
...They are commonly used by hedge funds to build positions in companies and are typically facilitated by big banks....
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