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    By Meg Shen HONG KONG, China, Jul 16 (.) – China’s top central bank authority has called on the International Monetary Fund (IMF) to issue hundreds of billions of dollars of liquidity to its 189 member countries through a general allocation of Special Rights de Giro (SDR), despite objections from the United States. Yi Gang, governor of the People’s Bank...
    By Carolina Mandl and Marcela Ayres SAO PAULO / BRASILIA, Jul 16 (.) – Allowing millions of Brazilian users of WhatsApp, Facebook’s messaging app, to send money as easily as sending a text seemed like a golden opportunity for the world’s largest social network. The ubiquitous messaging app finally entered the financial sector with a payment service in Latin America’s...
    By DAVID McHUGH, Associated Press FRANKFURT, Germany (AP) — The European Central Bank has left its monetary stimulus programs unchanged ahead of a key meeting of EU leaders on a recovery plan meant to help the economy bounce back from the coronavirus shutdowns. The ECB held off providing new measures Thursday after unleashing in recent weeks and months massive doses...
    FRANKFURT, Germany (AP) — The European Central Bank has left its monetary stimulus programs unchanged ahead of a key meeting of EU leaders on a recovery plan meant to help the economy bounce back from the coronavirus shutdowns. The ECB held off providing new measures Thursday after unleashing in recent weeks and months massive doses of monetary stimulus that have...
    FRANKFURT, Germany (AP) — European Central Bank leaves stimulus programs unchanged ahead of a key meeting of EU leaders on economic recovery plan. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    By Lindsay Dunsmuir and Howard Schneider WASHINGTON, Jul 14 (.) – The US economy will recover more slowly than expected amid a surge in coronavirus cases, and a second wave of the disease could cause economic suffering to deepen again, they warned. on Tuesday Federal Reserve authorities. One by one, central bank officials have become more pessimistic in recent days,...
    By Lindsay Dunsmuir and Howard Schneider WASHINGTON, Jul 14 (.) – The US economy will recover more slowly than expected amid a surge in coronavirus cases, and a second wave of the disease could cause economic suffering to deepen again, they warned. on Tuesday Federal Reserve authorities. One by one, central bank officials have become more pessimistic in recent days,...
    (Bloomberg) – Brazil must present a clear strategy to prevent environmental crime in the Amazon or risk losing international investments, according to a central bank director. The warning from Fernanda Nechio, the central bank’s director of international affairs, comes immediately after a call to action on the environment made by international fund managers who oversee around $ 3.7 trillion in...
    People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING – China's central bank isn't planning much more stimulus for the country as its economy recovers from the coronavirus shock, policymakers said. "(Some recent) policies and measures were made in response to the coronavirus outbreak,...
    Ten weeks: A timeline of the search for Vanessa Guillen NYC restaurant customers bothered by rats while dining outside: report Bank of America sees Mexican inflation rising to 4% this year MEXICO CITY (Reuters) - Bank of America revised its inflation forecast for Mexico this year to 4%, from 3.7% previously, the bank said in a research note, adding...
    VATICAN CITY (AP) — Mario Draghi, the former head of the European Central Bank, has been appointed by Pope Francis to a Vatican advisory panel, the Holy See said on Friday. The pontiff named Draghi, 72, as a member of the Pontifical Academy of Social Sciences. An economist who received his doctorate from the Massachusetts Institute of Technology, Draghi had...
    (Bloomberg) – Peru’s central bank kept its benchmark interest rate at a record low for the third month to back loans, after a virus-induced confinement depressed the economy and prompted struggling companies to obtain credits. The agency’s board, chaired by the bank’s president, Julio Velarde, kept the benchmark interest rate at 0.25% on Thursday, the lowest among central banks in...
    (Bloomberg) – Latin American local currency bonds have rebounded this week as investors put aside fiscal concerns to focus on hopes that central bank liquidity injections will lower the cost of capital in the long term. Yields on five-year bonds in Mexico and Brazil fell 10 and 14 basis points, respectively, while swap rates with the same maturity decreased 16...
    BRASILIA (Reuters) - Brazil's central bank president, Roberto Campos, said on Thursday Facebook Inc messaging service WhatsApp will be allowed to operate its newly launched payments service once it is proven the arrangement proposed by the company is competitive and safe in terms of data protection. "At no point has the central bank forbidden anything, it is willing to authorize...
    KYIV, Ukraine (AP) — Ukraine’s president on Thursday accepted the resignation of the country’s top banker, who has complained of political pressure. National Bank head Yakiv Smolii cited “systematic political pressure” as the reason for his decision to step down, but didn’t provide any specifics. President Volodymyr Zelenskiy accepted Smolii’s resignation and asked lawmakers to endorse the decision. Smolii was...
    A protester at the picket line wears a helmet written on no layoffs during a demonstration in Spain.SOPA Images The unemployment rate in the euro zone came in at 7.4% in May, as the region grapples with the economic shock from Covid-19. It comes after a number of European economies took their first steps to reopen in May, which has...
    WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10 discussions, which were made public Wednesday, show officials grappling with economic disruptions...
    Representatives of WhatsApps met with authorities of the Central Bank of Brazil to restore their digital payment service WhatsApp He affirmed this Thursday, in a statement, that he works together with the central bank for restore “quickly” your service digital payment in Brazil, Which was discontinued by the Issuer to “preserve an adequate competitive environment”. Company representatives, owned by...
    European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020.Ralph Orlowski | Reuters Christine Lagarde, the president of the European Central Bank, believes the world may be passed the worst of the coronavirus crisis but said a return to the status quo is...
    New York — The Central Bank said that the implementation of the service without prior analysis by the monetary authority could harm the Brazilian payment system. It seems that the new payment system through WhatsApp did not last very long in Brazil since the Central Bank of the South American country decided to suspend the mobile payment service of...
    Just over a week ago, WhatsApp launched its payments through its platform and it had chosen Brazil for the pilot experience. To everyone’s surprise, on Tuesday the Central Bank (BC) and the Administrative Council for Economic Defense (CADE) of Brazil have announced the suspension of the payment and transfer function through WhatsApp in the South American country. On this...
    Less than two weeks into a test on WhatsApp that allowed in-app payments via Facebook Pay, Brazil's Central Bank has pumped the brakes. According to a report from Bloomberg, authorities paused WhatsApp's payment feature in an effort to 'preserve an adequate competitive environment, that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap.' ...
    At launch, the service supported cards issued by Banco do Brasil, Nubank and Sicredi, so long as they were issued by Mastercard or Visa. The Central Bank of Brazil asked both payment processors to stop money transfer activities through WhatsApp or face fines. According to bank authorities, the suspension will allow them to evaluate any risk the service might pose...
    Brazil’s Central Bank has suspended Facebook’s WhatsApp payments feature in the country, just over a week after the messaging service announced its launch, Bloomberg reports. In a statement, the central bank said that it had taken the decision to ensure competition in the payment system market. Bloomberg notes that the bank will use the suspension to evaluate potential risks to...
    BRASILIA, Jun 23 (.) – Brazil’s central bank has little room to cut interest rates below its current record low of 2.25%, a level “close” to the point from which further reductions could unleash instability in the financial market, according to the minutes of their most recent meeting, released on Tuesday. The minutes of the meeting of June 16 and...
    By Howard Schneider Jun 22 (.) – The strategy known as “controlling the yield curve” has helped the Bank of Japan to set long-term interest rates with less need to intervene in the markets, although it has not yet shown that it can increase the inflation, two senior New York Federal Reserve officials wrote Monday. The comments by Matthew Higgins...
    FRANKFURT, Germany (AP) — The European Central Bank has handed out 1.31 trillion euros ($1.46 trillion) in long-term, ultra-cheap credit to hundreds of banks as part of its emergency support aimed at cushioning the impact of the coronavirus pandemic on businesses and workers. The three-year loans are aimed at making sure banks can keep lending to companies so they...
    BANGKOK (Reuters) – Thailand’s central bank unveiled on Thursday plans to build a prototype of a payment system for businesses using central bank digital currency (CBDC), or traditional money but in digital form being developed by monetary authorities around the world. The CBDC prototype will be integrated with the procurement and financial management systems of Siam Cement (SCC.BK) and...
    WASHINGTON (AP) — The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022. In its semi-annual monetary policy report to Congress, the central bank said Friday that the COVID-19 outbreak was causing “tremendous human...
    FRANKFURT, Germany (AP) — European Central Bank says eurozone economy to shrink by 8.7% this year due to coronavirus pandemic. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    FRANKFURT, Germany (AP) — The European Central Bank has boosted its pandemic emergency support program by 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus outbreak. The central bank for the 19 countries that use the euro also extended the monetary...
    FRANKFURT, Germany (AP) — European Central Bank boosts pandemic support program by 600 billion euros ($670 billion) to 1.35 trillion euros. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    FRANKFURT, Germany (AP) — The European Central Bank could soon expand its anti-pandemic stimulus program to more than a trillion euros, giving it more firepower to keep the virus crisis from sliding into a new financial crisis for the 19 countries that use the euro. Analysts say that the ECB’s 25-member governing council could decide as soon as its meeting...