This influential banker says the Trump bump has only just begun February 10, 2017 Bankim Chadha, Deutsche Bank’s global chief strategist is bullish about the prospect of further growth in equities this year. Writing in a note, Chadha said the S&P 500 index could rise to a record of 2,600 points by the end of the year. The US index closed at a record of 2,307.87 points last week. He [...]
The Co-operative Bank has put itself up for sale February 13, 2017 The Co-operative Bank has put itself up for sale after making "considerable progress" on its turnaround plan that saved the lender from near-extinction in 2013, it said this morning. A number of US hedge funds came to the rescue of the ethical lender four years ago, bailing it out after the lender revealed losses of £600m [...]
Interest rates could be going even lower in the Eurozone, the European Central Bank has said April 7, 2016 Interest rates in Europe could sink even further into negative territory over the next few months, the European Central Bank (ECB) confirmed yesterday, as it said that it would keep all options on the table in its fight to stave off deflation in the Eurozone. Minutes from last month’s monetary policy meeting, where ECB president [...]
Draghi’s “Big Bazooka” losing steam as Standard & Poor’s slashes Eurozone growth forecasts March 30, 2016 Standard and Poor’s (S&P) has slashed its growth forecasts for the Eurozone, saying that low growth and weak inflation looks set to stalk the continent for the foreseeable future. The ratings agency reckons the Eurozone will expand by a miserly 1.5 per cent this year, down from its previous forecast, made just four months ago, [...]
As the ECB prepares to ramp up QE this week, should it be doing even more to boost growth in the Eurozone? March 30, 2016 Vicky Pryce, who is a board member of CEBR, on City A.M.’s shadow MPC and author of Greekonomics (Biteback Publishing), says Yes. When Mario Draghi revised his forecast for the Eurozone economy down from 1.7 per cent to just 1.4 per cent, he made it clear that risks remained on the downside – reflecting world [...]
The EU’s efforts to save the failing euro will cost Britain dear if we vote to remain June 3, 2016 In the Eurozone, austerity rules. The poorer countries are kept in straitjackets, stopping the state from spending more and the banks from increasing lending to boost their economies. Half of all young people are out of work in Greece and in Spain. A quarter of all working age people have no job in much of southern [...]
Boost for ECB as Eurozone inflation reaches highest point since 2013 January 4, 2017 Eurozone inflation rose to its highest point since 2013 as higher oil prices fed through to the big increase, in welcome news for efforts by the European Central Bank (ECB) to boost Europe's economy. The annual rate of inflation rose to 1.1 per cent in December, according to flash estimates from the European Commission, almost [...]
Dwindling FX volumes – except for China – are a systemic risk as hedge funds abandon currency markets says BIS December 11, 2016 High-risk investors are abandoning the foreign exchange markets, potentially leaving the financial markets more vulnerable to systemic dangers, according to a group of top central bankers. The decline in foreign exchange volumes has also allowed China’s renminbi to gain market share, according to the Bank for International Settlements (BIS). Currency markets have “changed in favour of [...]
City Moves for 8 February 2017 – who’s switching jobs? February 8, 2017 Today's City Moves cover banking and online travel. Take a look at these movers and shakers: Aldermore Specialist lender and savings bank Aldermore has appointed two leading industry figures to its business finance team to drive further growth in its asset finance lending operations. Patrick Jelly joins the Bank as commercial director for asset finance. [...]
Bank of Japan expected to loosen policy next month as problems with negative interest rates start to emerge March 15, 2016 Economists are betting on Japanese central bankers loosening policy further next month, but some have warned its policy of negative interest rates is already creating negative side effects. The Bank of Japan (BoJ) kept its stimulus measures unchanged this morning, keeping the annual rate of its so-called quantitative and qualitative easing (QQE) at ¥ 80 trillion [...]