Topic
The European Central Bank was established by the Treaty of Amsterdam in 1998 and is headquartered in Frankfurt, Germany. The objective of the bank is to maintain price stability within the euro zone.
- Though President Xi Jinping has instructed China’s central bank to buy and sell government bonds, the institution is likely to be modest in doing so
- Analysts say bank wants to avoid large-scale intrusion into bond markets, prevent perceptions of quantitative easing or heavy-handedness
Any signal Fed’s Chair Jerome Powell may choose to send is of critical importance. It all comes down to how Powell and his colleagues have been reading the recent spate of economic data.
German Chancellor Olaf Scholz to meet leading players in the property sector for talks as he seeks to jump-start construction. The crisis could snowball into a social disaster if the building slowdown crashes into the rental market.
An imminent decline in global interest rates should boost housing markets, but any improvement in Hong Kong could be delayed until there is a broader recovery in the local and wider Chinese economies, Knight Frank’s Liam Bailey says.
CBDCs will disrupt the banking industry, forcing traditional lenders to innovate and helping small businesses access financing, according to a report by Standard Chartered and PwC China.
Some 87 per cent of 331 respondents in a survey expect the Federal Reserve to cut interest rates to 3 per cent or below starting from this year.
HSBC’s move to keep its prime rate unchanged was followed by its subsidiary Hang Seng Bank, crosstown rivals Standard Chartered and Bank of China (Hong Kong). Analysts said this will have a positive impact on Hong Kong’s property sector and economy.
Central bank digital currencies (CBDCs) can serve as alternative to cash, help speed cross-border payments in future, according to panellists at Bank of International Settlements summit.
Bank of England, European Central Bank say shareholders will bear losses before bondholders in bank insolvencies after the decision to wipe out US$17 billion in Credit Suisse debt in rescue.
The deal, in which Switzerland’s biggest bank will take over the second-largest in the country, was vital to prevent irreparable economic turmoil spreading throughout the country and beyond, the Swiss government said.
The US$6 billion in government guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges, sources said.
Credit Suisse to borrow US$54 billion from Swiss central bank as it seeks to halt a crisis in market confidence that has raised contagion fears and roiled global markets.
Central bankers and regulators from England, Japan and Singapore are among the heavyweights coming to Hong Kong next week, as the city hosts another event to mark its re-emergence onto the world stage after three years of Covid-19 restrictions.
China and others could see lower levels of investment inflows in the near future, global finance body says, as the market turns “more cautious” because of aggressive moves by the US and EU central banks.
Europe’s biggest economy is set to weather the fallout from Ukraine war better than expected and will eke out growth of 0.2 per cent this year.
Bank of England Governor Andrew Bailey said a central bank digital currency should solve a clearly defined problem, adding that the UK already has a wholesale settlement system.
