NEW YORK—U.S. bank executives on Tuesday raised concerns about the impact of a sustained period of higher inflation, adding to pressure on the Federal Reserve to accelerate plans to slow down the pace of its asset purchases. Wells Fargo Chief Executive Charlie Scharf said at a conference that the Fed may need to move more…
US Bank Executives Raise Concerns Over Inflation
December 7, 2021
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ECB Likely to Avoid a Long-Term Commitment in December: Lagarde
December 3, 2021
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FRANKFURT—The European Central Bank may set policy for a relatively short period at this month’s meeting given heightened uncertainty but should not delay a decision as markets need direction, ECB President Christine Lagarde told Reuters on Friday. Conservative policymakers have called on the ECB to avoid long-term commitments at the Dec. 16 gathering given recent…
German Banks Vulnerable to Housing Bubble; Should Build Buffers: Bundesbank
November 25, 2021
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FRANKFURT—Germany’s banks are increasingly vulnerable to an overvalued property market and finance authorities should force lenders to build up capital buffers, the Bundesbank said on Thursday in a regular stability report. Germany cut the so-called countercyclical buffer for banks to zero at the start of the pandemic but economic growth is now robust and bank…
US Bank Stocks Rise as Industry Welcomes Powell Renomination
November 22, 2021
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NEW YORK—U.S. bank stocks rose on Monday as senior bankers and industry figures welcomed Federal Reserve Chair Jerome Powell’s nomination by President Joe Biden for a second four-year term. Biden, in a statement emailed to reporters, paid tribute to the “decisive action” which the Fed had taken in response to the COVID-19 pandemic. And senior…
BoE’s Pill Sees Growing Case for December Rate Rise, but No Guarantee
November 19, 2021
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BRISTOL, England—Bank of England chief economist Huw Pill said the weight of evidence was shifting towards a rise in interest rates next month but that he had not made a decision, and markets would do better to focus on the longer term. Speaking to reporters at an economics conference in Bristol, Pill also cautioned against…
Pledging to Retain Stimulus, BOJ’s Kuroda Projects Inflation Near 1 Percent Mid-Next Year
November 15, 2021
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TOKYO—Bank of Japan Governor Haruhiko Kuroda expects inflation to accelerate to around 1 percent in the first half of next year as the economy recovers to pre-coronavirus levels, pledging to maintain ultra-easy policy in hopes of a consumption-driven recovery. With inflation still short of its 2 percent target, the BOJ will maintain its “powerful” monetary…
Australia’s Banking Regulator Looks Into CBA’s Jump Into Crypto
SYDNEY—Australia’s banking watchdog said it was examining the regulatory implications of Commonwealth Bank’s planned introduction of bitcoin trading to unsophisticated retail investors—the first bank in Australia to do so. CBA says it would welcome a clear regulatory framework for crytpocurrencies, which are not formally regulated in Australia. On Wednesday CBA broke banking industry ranks to…
Bank of Ireland Share Sale Extended, State Recoups 249 Million Euros
DUBLIN—The Irish government on Friday extended the gradual sell down of its shares in Bank of Ireland to May 2022, having raised 249 million euros ($287.79 million) in the last three months by cutting its stake to 9.3 percent from 13.9 percent. The government announced in late June that it intended to cut its shareholding…
Bank of England Wrong-Foots Markets, Keeps Rates on Hold
LONDON—The Bank of England kept interest rates on hold on Thursday, dashing investors’ expectations for a hike that would have made it the first of the world’s big central banks to raise borrowing costs after the COVID-19 pandemic. The BoE kept alive the prospect of a move soon, saying it would probably have to raise…
ECB ‘Very Unlikely’ to Raise Rates in 2022, Lagarde Says
FRANKFURT—The European Central Bank is very unlikely to raise interest rates next year as inflation remains too low, European Central Bank President Christine Lagarde said on Wednesday, pushing back on market bets for a move as soon as next October. With inflation running at a 13-year-high, markets are increasingly betting that the ECB will retreat…
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