Germany backs Central Bank’s view that inflation jump is temporary, Scholz says
Finance Minister Olaf Scholz said that Germany is monitoring a recent rise in inflation closely. But the government shares the assessment of central banks that the jump in consumer prices is largely driven by temporary factors. When asked if the jump in inflation and the European Central Bank’s ultra-loose monetary policy could become a problem for […]
New Euro zone business loans plunge in April
New lending to euro zone companies plunged in April. And this indicates that banks are tightening access to credit even as the bloc starts to emerge from a year of lockdown. This is showed form the data from the European Central Bank. The economic activity started to pick up in April, after the third wave […]
SNB Chairman sees only modest inflation risk in Switzerland-Schweiz am Wochenende
Swiss National Bank (SNB) Chairman Thomas Jordan sees only modest inflation risk in Switzerland. This is because the central bank maintains cautious optimism for global economic recovery. This was derived from a newspaper interview. Jordan said in the interview with Swiss newspaper Schweiz am Wochenende that in Switzerland, they believe the inflation risk is modest. […]
Swiss Bank Julius Baer to pay $79.7 MLN in FIFA corruption settlement
The Swiss bank Julius Baer will pay $79.7 million in a settlement with the U.S. Department of Justice. This is after being implicated in a sprawling corruption probe surrounding FIFA, the world’s soccer governing body. Julius Baer’s three-year deferred prosecution agreement resolves a money laundering conspiracy charge. They call for the Zurich-based bank to pay […]