Archiv: Zentralbanken / central banks


16.01.2024 - 23:55 [ CNN ]

The rich and powerful are meeting in Davos. Here’s what they’re talking about

This year, more than 60 heads of state, including Israeli President Isaac Herzog, Ukrainian President Volodymyr Zelensky, French President Emmanuel Macron and China’s second-in-command Li Qiang, will be in attendance. The United States is also sending Secretary of State Antony Blinken, National Security Adviser Jake Sullivan and Special Presidential Envoy for Climate John Kerry.

Business executives include Microsoft CEO Satya Nadella, OpenAI CEO Sam Altman, JPMorgan Chase CEO Jamie Dimon, Bank of America CEO Brian Moynihan and BlackRock CEO Larry Fink, to name a few.

30.10.2023 - 20:49 [ Times of Israel ]

Biden sends Treasury official to Saudi Arabia, Qatar to discuss Gaza aid, counterterrorism

In Riyadh, Nelson co-chaired a meeting of the Terrorist Financing Targeting Center.

In Doha, Nelson met with Qatar Central Bank governor Bandar al Thani, Attorney General Issa bin Saad al Nuaimi and leaders of the National Counterterrorism Committee.

20.09.2023 - 20:58 [ Yahoo.com ]

Federal Reserve leaves interest rates unchanged at 22-year high, signals one more hike in ‘23

The Federal Reserve held interest rates steady at a 22-year high on Wednesday while signaling another rate hike will be needed later this year to bring inflation back to its 2% target.

27.08.2023 - 04:50 [ ZDF ]

Notenbank-Konferenz in USA – Inflation: EZB setzt auf straffe Zinspolitik

Der Kampf gegen die hohe Inflation ist nach den Worten der Präsidentin der Europäischen Zentralbank (EZB), Christine Lagarde, noch nicht gewonnen. Das bedeute, dass die EZB so lange an einer strikten Geldpolitik festhalten müsse, bis eine mittelfristige Teuerungsrate von zwei Prozent erreicht werde, sagte Lagarde am Freitag auf der Notenbank-Konferenz in Jackson Hole in den USA.

27.08.2023 - 04:37 [ ORF.at ]

Bank-of-England-Vize: Wohl „einige Zeit“ weiter hohe Zinsen

Die Folgen des Preisanstiegs würden wahrscheinlich nicht so schnell verschwinden, wie sie entstanden seien, sagte der Vizegouverneur der Bank of England (BoE), Ben Broadbent, laut Redetext gestern auf dem Treffen von Zentralbankern und Ökonominnen in Jackson Hole im US-Staat Wyoming.

„Vor diesem Hintergrund könnte die Geldpolitik noch einige Zeit restriktiv bleiben.“

27.08.2023 - 04:31 [ wam.ae ]

Bank of England warns UK rates need to remain high for some time

(Sat 26-08-2023)

“It’s unlikely that these second-round effects will unwind as rapidly as they emerged,” Broadbent said at the Federal Reserve’s annual gathering of central bankers in Jackson Hole, Wyoming. “As such, monetary policy may well have to remain in restrictive territory for some time yet.”

The BOE has raised rates 14 times in a row to 5.25%, the highest level in almost 16 years, to tame inflation.

27.08.2023 - 04:25 [ Reuters ]

Dollar steady as Fed‘s Powell says higher rates may be needed

(August 25, 2023)

Powell, in a speech at an economic summit in Jackson Hole, Wyoming, said policymakers would „proceed carefully as we decide whether to tighten further,“ but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2% target.

27.08.2023 - 04:12 [ New York Times ]

How Jackson Hole Became an Economic Obsession

(Aug. 24, 2023)

The most hotly anticipated event is a speech by the Fed chair that typically takes place on Friday morning and is often used as a chance for the central bank to send a signal about policy. Jerome H. Powell, the current Fed head, has made headlines with each and every one of his Jackson Hole speeches, which has investors waiting anxiously for this year’s. It is the only part of the closed-door conference that is broadcast to the public.

05.08.2023 - 18:11 [ BusinessToday.in ]

‚I would like to thank my brother Saudi Crown Prince,‘ says Pak PM on receiving $2-bn financial support

(Jul 11, 2023)

In April, Saudi Arabia made a commitment to provide financial assistance and subsequently awaited the arrival of the aid package from the International Monetary Fund (IMF) before depositing it into the State Bank of Pakistan.

This much-needed support will help bolster the central bank‘s dwindling foreign exchange reserves, which had declined to a level barely sufficient to cover a month‘s worth of regulated imports.

27.07.2023 - 23:50 [ CityAM.com ]

Taxpayer to hand over £150bn to Bank of England to cover QE losses

According to a quarterly report by the Bank on its asset purchase facility – the vehicle it uses to hoover up UK debt on financial markets – losses from bond purchases are poised to balloon by the early 2030s.

After the 2008 financial crisis, the Bank of England started purchasing UK government and corporate debt from financial institutions in an effort to stimulate the economy by pushing down yields.

27.07.2023 - 23:47 [ Financial Times ]

UK government faces £150bn bill to cover Bank of England’s QE losses

(25.07.2023)

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27.07.2023 - 23:18 [ MortgageSolutions.co.uk ]

Bank of England set to raise base rate to 5.25 per cent

(today)

This will push interest rates to their highest since early 2008 and further hikes are expected this year.

If the rise goes ahead on Thursday, 3 August, it will be the 14th successive rise to the base rate and will pile more pressure on borrowers.

27.07.2023 - 22:10 [ Tagesschau.de ]

EZB erhöht Leitzins auf 4,25 Prozent

(today)

Zu diesem Zinssatz können sich Geschäftsbanken Geld bei der EZB leihen. Am sogenannten Hauptrefinanzierungssatz orientieren sich Banken bei der Kreditvergabe, etwa für private Baukredite.

Der sogenannte Einlagensatz, den Banken für das „Parken“ von Geldern bei der EZB erhalten, steigt somit von 3,50 auf 3,75 Prozent.

27.07.2023 - 22:07 [ Bloomberg ]

Fed Raises Interest Rates to 22-Year High, Leaves Door Open for More

(26.07.2023)

The quarter percentage-point hike, a unanimous decision, boosted the target range for the Fed’s benchmark federal funds rate to 5.25% to 5.5%, the highest level in 22 years.

04.05.2023 - 09:09 [ ORF.at ]

Zehntes Mal in Folge: US-Notenbank Fed erhöht Leitzins erneut

Mit einem erneuten Zinssprung um 0,25 Prozentpunkte liegt dieser nun in der Spanne von 5,0 bis 5,25 Prozent, wie die Federal Reserve am Mittwoch mitteilte. Das ist der höchste Wert seit 2007 – also vor Beginn der weltweiten Finanzkrise.

Damit hat der jüngste Bankenkollaps in den USA – der Zusammenbruch der First Republic Bank – die Fed nicht davon abgehalten, weiter leicht an der Zinsschraube zu drehen.

07.04.2023 - 08:21 [ LebanonDailystar.com ]

Lebanon declares bankruptcy, has highest unemployment, poverty in the world

(April 5, 2022)

A statement was made by the Deputy Prime Minister of the Lebanese government, Saadeh al-Shami, to announce the bankruptcy of the state and the Central Bank of Lebanon, and that the losses will be distributed among the state, the Banque du Liban, banks, and depositors within Lebanon.

According to statistics provided by the United Nations, 82 percent of the Lebanese population are now living below the poverty line.

14.02.2023 - 07:32 [ Matías Vernengo and Esteban Pérez Calde / Post-Keynesian Economics Society / Researchgate.net ]

Price and Prejudice: A Note on the Return of Inflation and Ideology

With the acceleration of inflation in the post-pandemic recovery, the debate seemed to be limited to whether the inflationary spike would be short-lived or persistent and become imbedded into inflationary expectations. While some Keynesian authors like Paul Krugman initially believed that inflation was caused by cost-push factors including by the sharp rises in energy and foodstuff prices as a result of the Ukraine war, and that it would quickly subside, the debate shifted rapidly and a new consensus according to which inflation was, in part the result of over stimulation of demand during the pandemic coupled with supply side shocks that lowered the potential level of output which provides the main theoretical justification for raising interest rates. Thus, even when most authors accept the notion that snags in the supply chain played a role in the acceleration of inflation, the main cause is to be seen on the excess demand side with the economy beyond its potential output level.

The challenge to conventional wisdom, and its emphasis on demand, has come from left
of center authors, like Robert Reich, that suggest inflation is caused by greedy corporations that have increased their profit margins during a crisis. This has brought back the old debate about the relationship between administered prices and inflation, and the proposition that inflation is directly related to highly concentrated market structures, or what might be termed oligopolistic inflation.

In other words, there is an ideological divide between those that blame inflation in an incompetent government and central bank reaction to the pandemic versus those that suggest that the real culprits are greedy corporations rising their mark up above their costs.

14.02.2023 - 06:53 [ SeekingAlpha.com ]

U.S. Quietly Revises Q4 Inflation Up, Bombshell January CPI On Deck

While the rest of America was gearing up for the Super Bowl Sunday, the Bureau of Labor Statistics revised Q4 inflation numbers higher on Friday.
This is actually huge news.
Preprogrammed algos bought billions in stock off of November and December CPI off of faulty assumptions about inflation going away easily, which sparked the huge rally.
The inflation revisions are a double whammy.

14.02.2023 - 06:45 [ CNN ]

This is the economic buzzword we should all be paying attention to

Over the past year, an alphabet soup of otherwise wonky economic statistics have become household names as American families suffered through the worst inflation in 40 years: CPI (Consumer Price Index), PPI (Producer Price Index), PCE (Personal Consumption Expenditures and ECI (Employment Cost Index).

14.02.2023 - 06:39 [ Yahoo.com ]

Stock market news today: Stocks soar as investors look ahead to inflation data

Tuesday‘s CPI reading will come as investors recalibrate expectations for high interest rates will go this year after Fed Chair Jerome Powell implied in a speech last week that the battle against inflation was in its early stages. For much of the year, many were betting the U.S. central bank would pause its interest rate hiking campaign this year.

08.02.2023 - 06:30 [ Times of Israel ]

Top Bank of Israel official quits, says he can’t remain ‘while democracy in danger’

(23 January 2023)

Hazan, a senior lecturer and an expert on macroeconomics and growth at Tel Aviv University, was a member of the bank’s six-person monetary committee which is tasked with setting the interest rate every six weeks. A replacement for him will be sought.

In Hazan’s letter of resignation, he cited his intent to “become involved in the sociopolitical sphere.”

27.10.2022 - 19:29 [ Nachdenkseiten ]

Leitzinserhöhung zur Inflationsbekämpfung? Was für eine Schnapsidee

(14.09.2022)

Haben Sie mehr Geld in der Tasche, weil die Leitzinsen sinken oder die Geldmenge steigt? Nein, natürlich nicht.

27.10.2022 - 19:19 [ klaus / Nitter ]

Hoch mit den Zinsen! EZB hebt Leitzins auf 2,0 Prozent, weitere Erhöhungen möglich

15.10.2022 - 18:51 [ Nachdenkseiten ]

Leitzinserhöhung zur Inflationsbekämpfung? Was für eine Schnapsidee

(14.09.2022)

Während die Chicago Boys Milton Friedmans neoliberale Lehren in Pinochets Chile umsetzten, wurden Friedmans geldpolitische Lehren also zeitgleich ausgerechnet in der Bundesrepublik Deutschland erstmalig eingeführt. Bis heute gilt die Bundesbank als „Hort“ der Monetaristen und es gibt wohl kein Land, in dem die ökonomischen Fakultäten der Universitäten so sehr in der Hand der Monetaristen sind, wie Deutschland. Wen wundert es also, dass auch sehr viele Finanzjournalisten, die an eben jenen Universitäten studiert haben, monetaristische Positionen vertreten?

15.10.2022 - 18:31 [ theGuardian.com ]

Inflation is causing real pain. But raising interest rates will make it worse

(22.08.2022)

The current inflation situation hasn’t been about all goods in the economy getting more expensive at the same rate. Specific goods – food, fuel, cars and housing – have been experiencing massive price shocks, raising the general inflation level substantially. Controlling these changes would require aggregate demand to shrink to unbearable levels for average Americans – essentially making people too poor to buy goods, and thus alleviating bottlenecks. Rate hikes are not only ill suited to bring down these essential prices but risk a recession throwing millions out of work.

15.10.2022 - 18:23 [ CNBC ]

Raising interest rates is the wrong solution to the inflation problem, analyst says

(05.10.2022)

Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said.

Global manufacturers and suppliers have been unable to produce and deliver goods to consumers efficiently during Covid lockdowns. And more recently, sanctions imposed on Russia have also curtailed supply, mainly of commodities.

15.10.2022 - 18:12 [ DailyMail.co.uk ]

Interest rates may rise even HIGHER than expected next month, Bank of England chief says if inflation is to be beaten

On September 22 the Bank‘s Monetary Policy Committee (MPC) raised rates by 0.5 percentage points to 2.25%.

Speaking at the G30 annual international banking seminar, Mr Bailey said: ‚The UK Government has made a number of fiscal announcements and has set October 31 as the date for a further fiscal statement.‘

He said that the Bank‘s monetary policy committee ‚will respond to all this news at its next meeting in just under three weeks from now‘.

15.10.2022 - 18:06 [ James Matthews / Nitter ]

Bank of England governor Andrew Bailey tells IMF event in Washington of conversation with Jeremy Hunt yesterday: “Very clear & immediate meeting of minds on the importance of stability and sustainability.” @SkyNews

22.09.2022 - 18:30 [ financebuzz.com ]

U.S. Net Worth Statistics: The State of Wealth in 2022

For the fourth quarter of 2019, total wealth in the U.S. was $111.04 trillion.

22.09.2022 - 18:18 [ ons.gov.uk ]

Total wealth in Great Britain: April 2016 to March 2018

The total net wealth of private households in Great Britain was £14.6 trillion in April 2016 to March 2018, an increase of 13% in real terms from April 2014 to March 2016, mainly because of increases in private pension and net property wealth.

22.09.2022 - 17:50 [ admin.ch ]

Vermögensbilanz der privaten Haushalte

Copyright Bundesamt für Statistik

22.09.2022 - 17:41 [ 20min.ch ]

Schweizer Nationalbank: Dank Leitzinserhöhung könnte es wieder Zinsen aufs Sparkonto geben

Um die Inflation zu bekämpfen, erhöht die Nationalbank den Leitzins und beendet damit die Zeit der Negativzinsen

22.09.2022 - 17:26 [ Reuters ]

SNB to join 75 basis point hike club on Sept 22, inflation yet to peak – Reuters poll

The ECB, for its part, is due to take its key interest rates significantly higher.

22.09.2022 - 17:02 [ MarketWatch.com ]

Bank of England lifts rates by a half-point after 5-4 vote

The Bank of England decided to lift interest rates by a half-point to the highest level since 2008 in a contested decision, as the U.K. central bank joins peers across the globe in trying to bring inflation down by quelling demand.

The vote was 5-to-4 to bring rates to 2.25%, with three members calling for a 75-basis-point hike while one voted for a quarter-point increase. It was the seventh consecutive rate hike for the U.K. central bank.

22.09.2022 - 16:45 [ AZfamily.com ]

How the latest Fed rate hike will affect your credit card bill

Collectively, Americans have nearly $900 billion dollars in credit card debt, and if you carry a balance, your bill is about to get more expensive, as the Federal Reserve raised its key interest rate for the fifth time this year. Currently, the average interest rate on a new credit card offer is more than 21%, according to LendingTree’s Matt Schulz. “You can expect that average to go up to over 22% in the next couple of months because banks don’t tend to waste a lot of time on raising rates when the Fed does,” Schulz said.

22.09.2022 - 16:28 [ ORF.at ]

Angst vor Schulden: US-Zinssprung mit weltweiten Folgen

Das Hauptproblem: Die hohen Zinssätze treiben den US-Dollar in die Höhe – zum Nachteil anderer Länder. Denn nicht nur Importe werden teurer, sondern auch die Bedienung von Krediten. Die straffe Geldpolitik der US-Notenbank bekommen daher vor allem einkommensschwächere Länder zu spüren, die sich während der Pandemie hoch verschuldet und ihre Kredite in US-Dollar aufgenommen haben – selbst aber keine Dollars verdienen.

30.08.2022 - 18:13 [ Yahoo.com ]

Could China’s Yuan replace the U.S. dollar as the world’s dominant currency? Here’s how the Asian nation‘s trade supremacy is rapidly boosting its reserve status

Meanwhile, the Chinese Yuan has already become a de facto reserve currency in Russia. Russian leadership turned to China after facing sanctions from the West due to its invasion of Ukraine earlier this year. Now, 17% of Russia’s foreign reserves are denominated in yuan. The yuan is also the third most demanded currency on The Moscow Exchange.

As these partnerships become stronger, the yuan’s status as a reserve currency could be further entrenched.