- Story Log
User | Time | Action Performed |
---|---|---|
-
Ex-Bank of China Manager Jailed for Life Over $322 Million Fraud
China handed a life sentence to a former Bank of China Ltd. manager who was repatriated from the US two years ago over one of the Asian nation’s biggest bank frauds. Xu Guojun, a former local branch head at Bank of China, was sentenced on Wednesday in a court in the southern province of Guangdong, according to an official notice. He was convicted of embezzlement and misappropriation of over 2.3 billion yuan ($322 million) in funds more than 20 years ago with accomplices. Xu and two other former bank employees took advantage of loopholes at the lender and made fraudulent loans, according to statements from China’s ... (full story)
- Comments
- Subscribe
-
- Older Stories
- From bankofengland.co.uk|Dec 14, 2023|2 comments
If inflation moves away from the target by more than 1 percentage point in either direction, the Governor is required to send an open letter to the Chancellor explaining why ...
- From bankofengland.co.uk|Dec 14, 2023|10 comments
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 13 December 2023, the MPC voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Three members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%. In the MPC’s November Monetary Policy Report projections, conditioned on a market-implied path for Bank Rate that remained around 5¼% until 2024 Q3 and then declined gradually to 4¼% by the end of 2026, GDP was expected to be broadly flat in the first half of the forecast period, in part reflecting relatively weak potential supply, and an increasing degree of economic slack was expected to emerge from the start of next year. In the most likely, or modal, projection, CPI inflation returned to the 2% target by the end of 2025 and fell below the target thereafter. The Committee continued to judge that the risks to its modal inflation projection were skewed to the upside, such that the mean projection for CPI inflation was 2.2% and 1.9% at the two and three-year horizons. Since the MPC’s previous meeting, advanced-economy government bond yields have fallen materially, including at shorter horizons, and risky asset prices have risen. Global GDP growth has been a little stronger than projected in the November Report. Consumer price inflation in the euro area and the United States has declined more quickly than expected. There remain upside risks to inflation given events in the Middle East, although oil and wholesale gas futures prices have fallen. UK GDP was flat in 2023 Q3, in line with the November Report projection, and fell by 0.3% in October. Based on the latest official and survey data, Bank staff expect GDP growth to be broadly flat in Q4 and over coming quarters. The Committee continues to consider a wide range of data on developments in labour market activity. Employment gr post: BoE's Bailey: `Still Some Way To Go' In Inflation Fight
- From dailyforex.com|Dec 14, 2023
Gold markets experienced fluctuating movements during Wednesday's trading session, reflecting a period of uncertainty as investors await the Federal Reserve's impending ...
-
- Newer Stories
- From @financialjuice|Dec 14, 2023|2 comments
post:
BOE GOV. BAILEY: I HOPE WE ARE AT THE TOP OF THE RATES CYCLE. post:
BOE GOV. BAILEY: I AM ENCOURAGED BY PROGRESS, BUT PERSISTENCE AN ISSUE. post:
BOE GOV. BAILEY: THERE ARE DIFFERENCES BETWEEN US AND UK POSITONS.
- From ecb.europa.eu|Dec 14, 2023|2 comments
The Governing Council today decided to keep the three key ECB interest rates unchanged. While inflation has dropped in recent months, it is likely to pick up again temporarily in the near term. According to the latest Eurosystem staff projections for the euro area, inflation is expected to decline gradually over the course of next year, before approaching the Governing Council’s 2% target in 2025. Overall, staff expect headline inflation to average 5.4% in 2023, 2.7% in 2024, 2.1% in 2025 and 1.9% in 2026. Compared with the September staff projections, this amounts to a downward revision for 2023 and especially for 2024. Underlying inflation has eased further. But domestic price pressures remain elevated, primarily owing to strong growth in unit labour costs. Eurosystem staff expect inflation excluding energy and food to average 5.0% in 2023, 2.7% in 2024, 2.3% in 2025 and 2.1% in 2026. The past interest rate increases continue to be transmitted forcefully to the economy. Tighter financing conditions are dampening demand, and this is helping to push down inflation. Eurosystem staff expect economic growth to remain subdued in the near term. Beyond that, the economy is expected to recover because of post:
EUROZONE ECB INTEREST RATE DECISION (DEC) ACTUAL: 4.50% VS 4.50% PREVIOUS; EST 4.50%
EUROZONE ECB MARGINAL LENDING FACILITY: 4.75% VS 4.75% PREVIOUS; EST 4.75%
EUROZONE DEPOSIT FACILITY RATE (DEC) ACTUAL: 4.00% VS 4.00% PREVIOUS; EST 4.00% post: ECB Statement Comparison pic.twitter.com/UsCn8QWzI1 post: ECB: "The Governing Council stands ready to adjust all of its instruments within its mandate to ensure that inflation returns to its 2% target over the medium term and to preserve the smooth functioning of monetary policy transmission." post:
ECB: THE RATE LEVEL MUST BE MAINTAINED FOR A SUFFICIENTLY LONG TIME.
- From bls.gov|Dec 14, 2023|1 comment
Prices for U.S. imports decreased 0.4 percent in November following a 0.6-percent decline the previous month, the U.S. Bureau of Labor Statistics reported today. Lower fuel prices ...
- Story Stats
- Posted: Dec 14, 2023 7:39am
- Submitted by:Category: Entertainment NewsComments: 0 / Views: 5,802
- 1 traders viewing now