Three years after the Monetary Authority of
Singapore (MAS) sanctioned
20 banks and 133 traders over breaches in good conduct regarding the local
interest rate fixing (Sibor), two US investment funds filed a class action lawsuit
in New York on Friday (July 1) ...
In a surprise move the Bank of England’s Monetary Policy
Committee overwhelmingly voted to maintain bank rates at 0.5% Thursday,
although it said it expects to take some stimulus measures in August.
At its meeting ending July 13, the MPC voted ...
The Bank of Canada (BOC) announced that it is maintaining its target for the overnight rate at 0.5%. The bank rate is correspondingly 0.75% and the deposit rate is 0.25%.
In a release issued today, the BOC says that global growth in the first half of 2016 was slower than it had projected in its July Monetary Policy Report (MPR), although the Bank continues to expect it to strengthen gradually in the second half of this year. The US economy was weaker than expected in the second quarter, notably reflecting a contraction in business and residential investment.
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted unanimously to maintain the measures it introduced in its Brexit-induced stimulus package announced in August.
This means that it will hold the Bank Rate at 0.25% and continue with the programme of sterling non-financial investment-grade corporate bond purchases totalling up to £10 billion, financed by the issuance of central bank reserves.
The MPC also voted unanimously to continue with the programme of £60 billion of UK government bond purchases to take the total stock of these purchases to £435 billion, financed by the issuance of central bank reserves.
The European Central Bank (ECB) has decided to hold interest rates steady, with market participants predicting further euro weakness.
At today’s meeting, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40%, respectively.
The Governing Council says that it expects the key ECB interest rates to remain at present or lower levels for an extended period of time.