News By Region
Friday, March 27, 2015 - 06:30 Fed Vice Fischer: US Regulators Not Yet 'Tamed' Nonbank Sector 0
--More Work Needed on Short-Term Wholesale Funding, Hedge Funds, Derivatives
WASHINGTON (MNI) - While progress has been made in regulating the non-banking financial sector since the 2008 crisis, Federal Reserve Board Vice Chair Stanley Fischer said Friday more work needs to be done to stay ahead of further changes.
"Many reforms have been adopted for both banks and nonbank financial institutions," Fischer said in remarks prepared for the Deutsche Bundesbank Conference on Debt and Financial Stability in Frankfurt.
"But regulation is a cat and mouse game," he said.
Friday, March 27, 2015 - 06:02 BOE Carney: Next UK Rate Move Likely To Be Higher 0
LONDON (MNI) - Bank of England Governor Mark Carney restated the central forecast of the Bank's Monetary Policy Committee Friday, telling a forum that low inflation in the UK is temporary and the next move in domestic interest rates will likely be higher.
"The central forecast is that the next move in rates will be a rise," Carney told the forum on Financial Stability in Frankfurt.
Carney's comments echo those of other MPC members in recent days, including Deputy Governors Nemat Shafik and Ben Broadbent.
Carney was speaking in his capacity as Chairman of the Financial Stability Board and his comments were not broadly focused on the UK economy.
--MNI London Bureau; tel: +44 207-862-7495...
Friday, March 27, 2015 - 05:47 Visco: Italy's Woes Stem From Past, Also Linked To Low Infla 0
By Silvia Marchetti
ROME (MNI) - Bank of Italy Governor Ignazio Visco said Friday that despite being anchored to the past, many of Italy's current economic woes were also linked to the ongoing phase of low inflation which had worsened the outlook.
Delivering a key speech at Rome's Economy Faculty of La Sapienza university for the memorial of former economist Ezio Tarantelli, who was murdered by the Red Brigades, Visco stressed that Italy's current problems were still those of the past hinting at the fact that more must be done in terms of reforms.
Friday, March 27, 2015 - 05:15 BOE Broadbent: Seeing Good Deflation; Boosting Demand, Output 0
-Broadbent: Likelihood Of Persistent Deflation 'Pretty Low'
LONDON (MNI) - Bank of England Deputy Governor Ben Broadbent said Friday that deflation is unlikely to persist in the UK and the price falls seen so far are boosting demand and output.
Broadbent, in a speech at Imperial College Business School, attacked the hackneyed view that deflation will depress current demand, boost savings and become self-reinforcing.
Friday, March 27, 2015 - 04:03 CHINA MONEY WEEK: Steepening Curve Hampers PBOC Easing 0
BEIJING (MNI) - Yields on bonds traded in the interbank market rose this week as traders braced for at least CNY1.6 trillion in new regional-government issues - a flood that threatens to undo central-bank efforts to guide rates lower at the short-end of the curve.
The PBOC on Tuesday cut the rate of seven-day reverse repos for the second time in two weeks - by 10bps again to 3.55%.
Friday, March 27, 2015 - 04:00 ECB Weidmann:Cbank No Role To Play If Taxpayers' Money At Risk 0
-- Must Address Regulatory Treatment Of Sovereign Debt
FRANKFURT (MNI) - European Central Bank Governing Council member Jens Weidmann Friday said that central banks should not support banks that might face solvency problems and put taxpayers' money at risk.
While the Bundesbank President in a speech at the Bundesbank's Conference on Debt and Financial Stability did not make any reference to Greece, he earlier this week said that continued provision of emergency liquidity assistance to Greece poses monetary financing concerns.