The bank warned that its tight monetary policy would continue “for a long period” as it attempts to slow an economy in danger of overheating.
Tag: Banking and Financial Institutions
Bank of England Keeps Interest Rates at 5.25%, a 15-Year High
The Bank of England and European Central Bank both held their benchmark rates steady. Even though inflation has been slowing, they gave no indication of when rates would start to come down.
Javier Milei vs. Sergio Massa in Argentina’s Election
On Sunday, voters will choose whether to elect a far-right libertarian, Javier Milei, or the center-left economy minister, Sergio Massa.
Israeli Shekel Regains Value Lost Against Dollar After Attacks
The currency is now back to about where it was before the attacks on Oct. 7, after falling to an eight-year low.
Russia’s Central Bank Raises Rates to 15 Percent to Curb Inflation
The jump, from 13 percent, would bring a long period of “tight monetary conditions” in order to ease price pressures, the bank said.
Prospect of Prolonged Israel-Gaza War Adds Economic Havoc to Human Toll
A widening conflict would test Israel’s economic resilience while worsening an already bleak outlook for the Palestinian economy.
Scenting Power, U.K. Business Flocks to the Labour Party
The governing Conservative Party was long seen as entrepreneurs’ natural ally and lobbyists’ most important target. With an election on the horizon, that’s changing.
Western Banks Help Fund Blacklisted Oligarch’s Charity
Konstantin Malofeyev’s foundation funds orphanages in occupied Ukraine. He denies that a child-removal program there is a war crime: “All of this is fake.”
Turkey’s Central Bank Raises Rates to Near Two-Decade High
The bigger-than-expected rate increase, to 25 percent, is aimed at curbing stubbornly high inflation that exceeded 80 percent last year.
Bank of Ireland Glitch Creates Brief Illusion of Free Money
Some A.T.M.s around the country attracted long lines — and a police presence — after customers were apparently allowed to transfer money they did not have.