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UK watchdog shakes up ‘dysfunctional’ bank overdraft market

LONDON (Reuters) – Britain’s banks and building societies will have to charge the same amount for all overdrafts from April 2020, the Financial Conduct Authority (FCA) said on Friday, in a radical change that will raise questions about the future Read more ›

Bank of England’s Carney tells investors they are too relaxed on rates

LONDON (Reuters) – Bank of England Governor Mark Carney said on Thursday investors were underestimating how much interest rates could rise, even as the British central bank kept borrowing costs on hold due to Brexit uncertainty. Sounding more hawkish than Read more ›

Bank of England to keep rates steady, despite Brexit delay

LONDON (Reuters) – The Bank of England looks set to leave interest rates on hold on Thursday and keep its options open for later in the year when it announces its first policy decision since the postponement of Britain’s departure Read more ›

S.Korea c.bank chief says may change policy course if ‘recovery sentiment’ worsens

SEOUL, March 25 (Reuters) – South Korea’s central bank chief on Monday said the bank may change its current cautious stance on monetary policy should “recovery sentiment” worsen significantly, signaling it could ease policies if needed. “We can think about Read more ›

BoE most likely to cut rates in a no-deal Brexit – Tenreyro

LONDON (Reuters) – The Bank of England is more likely to cut interest rates than raise them in the event of a no-deal Brexit, rate-setter Silvana Tenreyro said, the latest BoE official to back the idea of coming to the Read more ›

No-deal Brexit would take a chip off UK home values – Reuters poll

LONDON (Reuters) – Britain’s over-valued housing market will undergo a modest correction if the country leaves the European Union at the end of next month without a deal, a Reuters poll found, with London being affected to a greater degree. Read more ›

Bank of England’s Vlieghe scales back rate hike view

LONDON (Reuters) – The Bank of England can probably raise interest rates only around once a year, given the weakening of the economy in Britain and around the world, and even that slow pace might be too much, a top Read more ›

Trump calls Fed ‘only problem’ in U.S. economy; markets slump

WASHINGTON (Reuters) – President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials convened to discuss the growing rout in stock markets caused in part by the president’s Read more ›

UK inflation expectations hit five-year high – BoE

LONDON, Dec 7 (Reuters) – The British public’s expectations for inflation in a year’s time have risen to a five-year high but fewer people expect an interest rate hike over the next 12 months, a Bank of England survey showed Read more ›

Global shares slip on China growth fears, dollar gains

NEW YORK (Reuters) – Global equity markets fell on Monday amid unease over the impact of the U.S.-China trade war on China’s growth, while the dollar gained against the euro as Italian bond yields spiked on a brewing spat over Read more ›