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  • NEW DELHI— India's central bank on Wednesday unexpectedly cut a key interest rate by a quarter percentage point, the second such reduction this year as the bank lends support to government efforts to boost economic growth. But India's inflation rate has fallen substantially in recent months as global oil prices have dropped sharply. India's Prime Minister...

  • SHANGHAI, March 4- China's central bank has cut the interest rate on its short-term lending facility for its local branches and nearly tripled the funds available under the programme, in its latest bid to bring down financing costs, sources told Reuters on Wednesday. The overall SLF quota will be increased by 220 billion yuan to 340 billion yuan, the sources added.

  • DIARY-Top Economic Events to March 17 Wednesday, 4 Mar 2015 | 12:01 AM ET

    LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lake Forest-Lake Bluff Rotary Club 2015 Economic Breakfast- 1400 GMT. KANSAS CITY, United States- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy at an event hosted by...

  • TOKYO, March 4- The dollar held firm near an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh clues on policy direction. On Tuesday it had touched a high of 95.570, its strongest level since September 2003. Against the yen, the dollar held steady at...

  • *Bank of Canada seen holding policy steady. TOKYO, March 4- Asian shares and the dollar eased on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2...

  • WASHINGTON— The Federal Reserve has worked hard to correct the mistakes exposed by the 2008 financial crisis, Fed Chair Janet Yellen said Tuesday. Yellen's remarks came in a speech in New York to the Citizens Budget Commission. Copies of the speech were made available in Washington.

  • TOKYO, March 4- The dollar hovered below an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh direction clues. The dollar index last stood at 95.355, having backed off slightly from Tuesday's high of 95.570, its strongest level since September 2003.

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- U.S. automakers have written to Federal Reserve Chair Janet Yellen to say the U.S. central bank need not worry about the impact of adding currency rules to trade deals. Yellen warned Congress last week against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy.

  • NEW YORK, March 3- The dollar touched an 11- year high against a composite of major currencies on Tuesday but gave up those gains ahead of major U.S. economic reports and the coming European Central Bank meeting later this week. The U.S. dollar index of a half dozen currencies traded against the greenback was last off 0.06 percent at 95.407 after peaking at 95.570, a...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, and its shares fell 1.4 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks. Royal Bank of Canada and Canadian Imperial Bank of Commerce topped profit...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON— The world's central banks are injecting a new complication into the Federal Reserve's decision on when to raise interest rates from record lows:. Last weekend, China's central bank slashed key rates for a second time in three months to try to stimulate the slowing Chinese economy. That move followed the European Central Bank's decision in January...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, sending its shares down about 1.6 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks, with Royal Bank of Canada and Canadian Imperial Bank of Commerce...

  • JPMorgan Chase tilts away from Wall Street Tuesday, 3 Mar 2015 | 8:48 AM ET
    Gordon Smith, Chief Executive Officer of Card Services for JPMorgan.

    Investors bet banks that focus on consumers will grow faster than firms that concentrate on Wall Street. New York Times reports.

  • March 3- Bank of Nova Scotia, Canada's No. 3 lender, reported a marginal rise in first-quarter profit on Tuesday, led by its global banking& markets unit. The lender, known as Scotiabank, said net income rose to C $1.73 billion, or C $1.35 per share, in the quarter ended Jan. 31, from C $1.71 billion, or C $1.32 per share, a year earlier. Scotiabank raised its quarterly dividend...

  • LONDON, March 3- A Bank of England probe into what central bank staff knew of malpractice in London's foreign exchange market failed to scrutinise officials closely enough and was "seriously incomplete", a senior lawmaker said on Tuesday. "The inquiry is seriously incomplete, and has failed to address the broader issues which the Chairman of the Bank's Court of...

  • No EU stress tests in 2015: Banking watchdog Tuesday, 3 Mar 2015 | 3:07 AM ET

    The European Banking Authority, Europe's banking watchdog, said it had decided not to run an EU-wide stress test this year.

  • Barclays posts 'messy' full-year loss as shares fall Tuesday, 3 Mar 2015 | 4:05 AM ET

    U.K bank Barclays posted a loss in its full-year earnings on Tuesday as it set aside more money for potential fines.

  • TOKYO, March 3- Embattled Japanese electronics maker Sharp Corp is preparing to seek aid from its two main lenders, a source with direct knowledge of the matter said, in what would be its second bailout in three years despite extensive restructuring. Fierce competition from Apple Inc, Samsung Electronics Co as well as cheaper Chinese makers has hammered Japan's...

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