Bank of England Governor Andrew Bailey sent a fresh signal on Sunday that the British central bank is gearing up to raise interest rates for the first time since the onset of the coronavirus crisis as inflation risks mount.
The Bank of England will no longer hold off-the-record briefings between policymakers and individual private sector firms, it told Reuters on Wednesday, as scrutiny over the links between central banks and finance grows.
Under pressure to act as inflation jumps towards double its 2% target, the Bank of England appears to be gearing up to be the first of the world's big central banks to raise interest rates since the coronavirus pandemic struck. Governor Andrew Bailey said in an interview published on Friday that inflation running above target must be managed to prevent it from becoming permanently embedded.
New rules will be needed to deal with operational risks from banks relying on outsourced 'cloud' computing from Amazon (AMZN), Google, Microsoft (MSFT) and others for providing services to customers, the Bank of England said on Friday.
Green Dot Corp (GDOT): * GREEN DOT (GDOT) - CO ANNOUNCED IT WAS UNABLE TO OBTAIN FEDERAL RESERVE APPROVAL OF SALE TRANSACTION WITH REPUBLIC BANK & TRUST, DEAL WILL NOT BE CONSUMMATED Further company coverage:
A look at the day ahead from Julien Ponthus. As the Northern hemisphere autumn gets going, there is but one colour -- green. The dollar is trading just below one-year highs against a basket of currencies and is heading for its best year since 2015. A hawkish Federal Reserve, higher Treasury yields and jitters over the U.S. debt ceiling battle are all combining to drive the greenback higher.
* FED'S KASHKARI IS COMFORTABLE WITH PLANS TO TAPER BOND BUYING SOON- WSJ. * FED'S KASHKARI SAYS DOESN'T BELIEVE THE FED WILL NEED TO RAISE INTEREST RATES UNTIL 2024 - WSJ.
The Bank of Japan on Thursday said it made no changes in the amount of Japanese government bonds it will purchase in the next three months from the previous quarter. The central bank, which holds almost half of all government bonds, will purchase 1.675 trillion yen of conventional JGBs a month between October to December, it said in statement.
* FED'S POWELL, TREASURY'S YELLEN TO APPEAR BEFORE SENATE BANKING COMMITTEE ON TUESDAY AT 10 A.M. TO DISCUSS CARES ACT OVERSIGHT. For hearing details see: https://www.banking.senate.gov/hearings/cares-act-oversight-of-the-treasury-and-federal-reserve-supporting-an-equitable-pandemic-recovery.
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