US Federal Reserve will restrain any overshoot of inflation target, says Chair Powell

21-04-2021
In a letter dated back to April 8 to Florida Senator Dick Scott, a Republican, the US Fed Chair Jerome Powell had said that the US Federal Reserve would not tolerate any overshoot of its inflation target

Russia, hurt by new Biden sanctions, slashes 2021 borrowing plans, to offer OFZ bonds

16-04-2021
On Thursday, following a stiffer US sanction on as many as 32 Russian institutions including the country's Central Bank, Russia had decided to trim its 2021 borrowing plans

US Fed expects growth surge, inflation jump in 2021, but no rate hike: FOMC minutes

18-03-2021
On Wednesday, US Fed said following a two-day meet of Federal Reserve policymakers that the US Central Bank was expecting a rapid growth surge this year, though had pledged to keep interest rate unchanged until a full-fledged economic recovery

US Fed keeps benchmark interest rate unchanged; Powell says economy loses steam

28-01-2021
On Wednesday, US Federal Reserve had kept its benchmark borrowing cost unchanged at 0.25 per cent, while Fed Chair Powell had pledged to support the economy by continuing its monthly bond repurchase program until recovery

US business borrowing for equipment falls 13% in Sept. as pandemic weigh on spending

24-10-2020
Despite a 72.9 per cent rise in the approvals of commercial loans in September, US business borrowings for equipment tumbled as much as 13% last month compared to the same time a year earlier

American Fed policymakers vow to keep interest rate near-zero, call for federal aid

24-09-2020
On Wednesday, US Fed policymakers had reaffirmed their stance on a near-zero interest rate at least until end-2023 in a bid to encourage the big-league investors to bet on an ailing US economy

American Bank shares slip on report of over $2 trillion in money laundering

22-09-2020
On Monday, leaked Government documents had revealed that a number of heavy-weight lenders had processed over $3 trillion in illicit transactions between 1999 and 2017

US consumer borrowing rises in June but credit card debts extend decline

12-08-2020
Later last week, US Federal Reserve said in a statement that the US consumer borrowing rise in June after three straight consecutive months of decline

South African banks mull how to avoid debt defaults when pandemic relief ends

14-07-2020
South African lenders were looking into wide-ranging measures to prevail loan defaults when the pandemic relief bills end

Russian Central Bank cuts benchmark interest rate to a record low of 4.5 per cent

23-06-2020
The Central Bank of Russia had slashed its benchmark borrowing cost to a record low of 4.5 per cent later last week

World’s poorest countries could save $12bn in debt relief in 2020- World Bank

20-06-2020
A World Bank research report revealed late on Friday had told that the world's poorest countries could save a lofty sum of $12 billion under a pandemic-driven World Bank program called DSSI

US lenders' profits tumble 70 per cent on pandemic loss provisioning

17-06-2020
FDIC, a banking industry regulator in the United States, said in a report on Tuesday that the world's No. 1 economy's banking industry profits tumbled by 70 per cent over Q1, 2020

Fed frets about small business failure despite $660 billion in fresh debts

13-06-2020
The US Federal Reserve said on Friday that a large number of US small-scale businesses would unlikely to see through the pandemic-driven economic slump

CBR's Nabiullina sets to reduce rate by 100bps to 4.50 per cent amid late-epidemic

12-05-2020
On Friday, the Central Bank of Russia (CBR) Chief, Elvira Nabiullina said that the CBR had been brewing off an option to slash the nation’s benchmark interest rate for the third time this year by 100bps as early as by June during a meeting of policymaker

Bahrain obtained a billion-dollar loan last month to avert bond default

21-04-2020
Bahrain, a heavily natural resource-dependent sovereign state in the Persian Gulf, had been in pursuit of a $1 billion in debts last month in order to pay off its sovereign bonds matured at the end of March

Ireland’s Allied Irish Bank approves 25,000 loan payment breaks

13-04-2020
On Sunday, the Chief Executive of Dublin-based Allied Irish Bank, said in an interview with the Sunday Times that the AIB (Allied Irish Bank), the second-largest lender in Ireland, had approved 25,000 loan payment breaks

Switzerland amends bankruptcy law to protect debt-strapped firms hit by lockdowns

11-04-2020
The Swiss Federal Government of President Simonetta Sommaruga, serving her second term after being re-elected in 2020, had been contemplating a swathe of momentary changes in its bankruptcy laws

Swiss Banks considers $21 billion in coronavirus business loan program

15-03-2020
A slew of major lenders in Switzerland had been exploring an option to launch a $21 billion business loan program aimed at aiding the small-business owners which had been bearing the steepest brunt thus far from a grievous coronavirus outbreak

BoC cuts interest rate again by 50 bps to provide “a bridge across the trouble”

14-03-2020
On Friday, in order to cushion up the Canadian economy from a gruelling outbreak of Covid-19 which has been sending the global economy at the edge of a cliff, BoC (Bank of Canada) had proffered an emergency interest rate cut of 50bps

BoC pledges fiscal stimulus as Toronto witnesses worst intra-day plunge in 80 years

13-03-2020
On Thursday, the 12th of March 2020, the BoC (Bank of Canada) had committed to fiscal stimulus to grapple with a fast-spreading coronavirus pandemic

Israel to set up $1 billion fund to help companies see through the coronavirus crises

10-03-2020
On Sunday, the 8th of March 2020, the Israeli Prime Minister, Benjamin Netanyahu said in a statement that his Government had been sketching out a plan to establish a fund of $1 billion to assist Israeli companies hurt by coronavirus

ECB working on lending scheme for coronavirus-hit companies

05-03-2020
Frankfurt-based ECB, the central back of the bloc’s 19 member states that administers monetary policy within the EU, had been making preparations to provide businesses with liquidities hurt by the consequential repercussions of coronavirus outbreak

US 10-year Treasury bond below 1% for the first time after Fed rate cut

04-03-2020
The US 10-year Treasury bonds has been trading below 1 per cent for the first time on record amid investors’ “flight-to-safety” response

US consumer spending tumbles as Fed rate-cut bet jumps amid coronavirus

29-02-2020
On Friday, the 28th of February 2020, US government data had signalled a likely pause of the world’s No. 1 economy’s record long expansion currently at its eleventh year

US business borrowing equipment climbs 28% in January, says ELFA

27-02-2020
Equipment Leasing and Financing Association said that the American companies’ borrowings for capital investment, a critical indicator to investors’ appetite, mounted as much as 28 per cent last month on an annualized basis