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Insight - Interest rates are losing their relevance
FOR millennia, interest rates have been the primary tool for setting the price of money. They have determined how medieval kingdoms financed faraway conquests and modern nations fought wars.
RBNZ keeps rates unchanged
WELLINGTON: New Zealand’s central bank held its official cash rate at a record low of 0.25% yesterday, as expected, saying the current levels of monetary stimulus were needed to meet its consumer price inflation and employment remit.
Insight - Central bank digital cash spooking shadow economy to crypto
IF central bank digital cash is to rapidly replace banknotes, a shadow economy worth trillions of dollars may creep deeper into the darkness.
BoJ seen widening yield band, trimming bond-buying
TOKYO: The Bank of Japan (BoJ) (pic) is likely to allow long-term interest rates to move more widely around its 0% target and reduce purchases of super-long bonds to steepen the yield curve, according to former deputy governor Kazumasa Iwata.
The pound on a winning streak
LONDON: The pound is winning the hearts and minds of fund managers and forecasters as the United Kingdom steps up its coronavirus vaccinations to improve the chances of an economic rebound.
Bond market is jettisoning UK negative-rate bets
LONDON: Traders are scrapping bets that the United Kingdom will implement negative rates this year, calling time on one of the most popular wagers of 2020 ahead of a Bank of England (BoE) meeting that’s expected to address the debate.
Scrapyards fear for vessels
ANTWERP: Covid-19 is destroying the market for supertankers that deliver about a fifth of the world’s crude oil.
BoE plans can’t quell pain in a no-deal Brexit
LONDON: Bank of England (BoE) officials hold their final scheduled policy decision of a tumultuous year still unsure whether the United Kingdom will get a Brexit trade deal, and knowing there’s little they can do to soothe the economic pain if it doesn’t.
BoE split over subzero rates
LONDON: The Bank of England (BoE) is seeing old fault lines open up as officials lock horns on whether to take interest rates below zero for the first time.
