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Finance Banks

  • BRASILIA, Feb 22- Brazil's central bank maintained the pace of interest rate cuts on Wednesday, resisting pressure to further step up monetary easing to pull Latin America's economy out of its worst recession on record. The bank's monetary policy committee, known as Copom, cut its benchmark Selic rate by 75 basis points for the second straight time to 12.25...

  • *Loonie touches its weakest since Feb. 7 at C $1.3210. It reinforces the view that the Bank of Canada will not be following the Federal Reserve with interest rate hikes, he added. The chances of a Bank of Canada interest rate hike this year dipped to 28 percent from more than 30 percent before the retail sales report, data from the overnight index swaps market showed.

  • A push by the Newark, New Jersey- based insurer for Wells to cover its costs could become another headache for the San Francisco- based bank, whose sales practices have been under a spotlight. Last year, federal regulators ordered Wells Fargo to pay $190 million in fines and restitution because they said its high pressure sales environment pushed employees to...

  • NEW YORK, Feb 22- U.S. long-dated Treasury debt yields edged lower on Wednesday in choppy trading, after minutes of the latest Federal Reserve monetary policy meeting struck a cautious tone on raising interest rates, reducing expectations of a hike next month. "The minutes are fairly dovish," said Jeff Kravetz, regional investment director at U.S.

  • NEW YORK, Feb 22- U.S. long-dated Treasury debt yields edged lower on Wednesday in choppy trading, after minutes of the latest Federal Reserve monetary policy meeting struck a cautious tone on raising interest rates, reducing expectations of a hike next month. "The minutes are fairly dovish," said Jeff Kravetz, regional investment director at U.S.

  • WASHINGTON, Feb 22- Many Federal Reserve policymakers said it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the minutes of the Fed's last policy meeting released on Wednesday. Last week, Fed Chair Janet Yellen said waiting too long to raise rates again would be "unwise" and...

  • WASHINGTON, Feb 22- Many Federal Reserve policymakers said it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the minutes of the Fed's last policy meeting released on Wednesday. The minutes of the Jan. 31- Feb. 1 discussion, at which the U.S. central bank voted to keep rates...

  • WASHINGTON, Feb 22- Many Federal Reserve policymakers said it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the minutes of the Fed's last policy meeting released on Wednesday. The minutes of the Jan. 31- Feb. 1 discussion, at which the U.S. central bank voted to keep rates...

  • WASHINGTON— Federal Reserve officials earlier this month discussed the need to raise a key interest rate again "fairly soon," especially if the economy remains strong. Paul Ashworth, chief U.S. economist at Capital Economics, said the "fairly soon" phrase in the minutes "clearly leaves the door open to a March rate hike although... we still think the Fed will delay until...

  • President Donald Trump discusses the federal budget in the Roosevelt Room of the White House on February 22, 2017 in Washington, DC.

    The next interest rate increase could be closer than it appears.

  • NEW YORK, Feb 22- The Federal Reserve is set to gradually raise interest rates as long as the U.S. economy continues on its current path, and there is yet no sign it is being too slow to respond as inflation heads higher, an influential Fed governor said on Wednesday. Going forward, I see it as appropriate to gradually tighten policy as long as the economy continues to...

  • NEW YORK, Feb 22- The Federal Reserve is set to gradually raise interest rates as long as the U.S. economy continues on its current path, an influential Fed governor said on Wednesday. In a speech that shed little light on whether the U.S. central bank would move as soon as next month to tighten policy, Governor Jerome Powell said the Fed was wise to have been patient in...

  • UKRAINE CENTRAL BANK CHIEF SAYS RAIL BLOCKADE COULD HIT EXPORT REVENUE, BANK PREPARED TO TAKE "ANTI-CRISIS MEASURES".

  • NEW YORK, Feb 22- The euro hit a six-week low against the dollar on Wednesday on concern over France's presidential election campaign, a growing gap between U.S. and euro zone interest rates and the increasing risk of a rate increase from the Federal Reserve in March. The euro fell below $1.05 for the first time in six weeks to $1.0494 in early trading.

  • *Listing of Aramco could raise up to $100 billion. Industrial and Commercial Bank of China International Holdings, a wholly-owned Hong Kong- based subsidiary of Industrial and Commercial Bank of China, and China International Capital Corporation are among the Chinese banks pitching for the deal, two other sources familiar with the matter said.

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • *The Fed will release the minutes of its Jan. 31- Feb. 1 meeting at 2:00 p.m. ET, which could offer clues on whether the central bank will raise rates in March. *Policymakers, including Fed Chair Janet Yellen, have been stoking the possibility of a rate hike sooner than later. *Also on investors' minds is how the Fed views uncertainty regarding economic policy under...

  • LONDON— Lloyds Banking Group says its underlying profits rose slightly in the fourth quarter as it began to move beyond past scandals and a government rescue during the financial crisis. The bank says underlying profit, which excludes one-time items like restructuring costs, increased to 1.79 billion pounds from 1.76 billion pounds a year earlier.

  • *India chief econ adviser backs calls for "bad bank". NEW DELHI, Feb 22- India's finance ministry on Wednesday backed a call by the Reserve Bank of India to set up an institution similar to a "bad bank," saying urgency was needed to address troubled loans weighing on the banking sector that were hobbling investment and growth. His comments backed forthright views...

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