People walk outside the Bank of England in the City of London financial district on January 26, 2023 in London, UK. henry nichols Reuters LONDON–The Bank of England is expected to raise rates at its 12th consecutive meeting on Thursday as inflation continues to rise, but a summit could be nearing. The UK economy has…
Federal Reserve Chairman Jerome Powell speaks during a press conference at the Federal Reserve Board in Washington, DC, March 22, 2023. Olivier D’Liery | AFP | Getty Images There’s not much mystery about what the Federal Reserve plans to do with interest rates on Wednesday. What’s intriguing is how central banks go from here. The…
Employees at the First Republic Bank office in San Francisco, California, May 1, 2023. Justin Sullivan | Getty Images JP Morgan Chase CEO Jamie Dimon said the recent turmoil in the banking sector First Republic It may be premature, one analyst suggests. The Wall Street giant plans to win a weekend auction for lenders in…
Thomas Jordan, President of the Swiss National Bank (SNB), speaks at the bank’s Annual General Meeting in Bern, Switzerland, on Friday, April 28, 2023. Bloomberg | Bloomberg | Bloomberg | Bloomberg | Getty Images Following the recent turmoil over Credit Suisse, the Swiss National Bank promised to review banking regulations at its annual general meeting…
LONDON – MARCH 31, 2023: Pedestrians take shelter from the rain and pass fruit and vegetables for sale at a street market in east London. Food and non-alcoholic beverage prices rose 19.2% in the year to March 2023, the steepest annual increase in more than 45 years, according to new data released on Wednesday, April…
City officials at Paternoster Square, home of the London Stock Exchange, in the City of London, England, Thursday, March 2, 2023. Bloomberg | Bloomberg | Bloomberg | Bloomberg | Getty Images UK inflation unexpectedly stayed in double digits in March as households continued to grapple with high food and energy bills. The National Bureau of…
The European Central Bank (ECB) sign outside the bank’s headquarters in Frankfurt, Germany, on Thursday, February 2, 2023. Alex Krause | Bloomberg | Bloomberg | Getty Images Policymakers at the European Central Bank are rethinking their rate hike trajectory in the wake of last month’s bank turmoil, but remain committed to containing core inflation. The…
The Credit Suisse logo displayed on a smartphone with the UBS logo in the background. Sopa Images | Light Rocket | Getty Images Allow bankruptcy of troubled lenders credit suisse Swiss regulator FINMA said on Wednesday that it would likely cripple the Swiss economy and financial center, leading to a crackdown on deposits at other…
Cargo ships on the Rhine river near the European Central Bank (ECB) headquarters at sunset in the financial district of Frankfurt, Germany. Bloomberg | Bloomberg | Bloomberg | Bloomberg | Getty Images Europe learned its lessons after the financial crisis and is now in a strong position to weather further stress on its banking system,…