Bank rate

BoE to give Carney more power

Britain’s next budget will give incoming BoE governor Mark Carney more power to loosen monetary policy, reports the Financial Times. Chancellor of the Exchequer George Osborne will release the budget March 20, and is expected to review the BoE’s operations. Read: It’s time to be more accountable: Carney “Options include giving the Monetary Policy Committee […]

By Staff |March 7, 2013

1 min read

Claims of global currency war are unfounded

There are fears that the issue of currency wars may get undue attention at this week’s Group of 20 leading nations meeting in Moscow. Philipp Hildebrand, former chairman of the Swiss National Bank, urges participants in an opinion piece in FT.com to refrain from fanning the currency debate. He argues there is no such thing […]

By Staff |February 12, 2013

1 min read

BoC maintains 1% overnight rate, lowers outlook

The Bank of Canada today announced it’s maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. Insisting that some modest withdrawal of monetary policy stimulus will likely be required over time, consistent with achieving the 2% inflation target, the Bank’s Monetary Policy Report […]

By Staff |January 23, 2013

2 min read

Low margins worry U.S. banks

The profit margins for U.S. banks have become wafer thin as the spread between their borrowing and lending rates has shrunk to the levels once seen in the 1950s. With the Federal Reserve’s keeping the interest rate at a historic low, banks are struggling to stay profitable, says a report in the Financial Times. Wells […]

By Staff |January 14, 2013

1 min read