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Goldman Sachs expects three more Fed rate hikes in 2023

GOLDMAN Sachs is expecting the US Federal Reserve to raise interest rates three more times this year by a quarter of a percentage point each, after data this week pointed to persistent inflation and resilience in the labour market.

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Investors pull US$2.5 billion in days from Binance’s stablecoin on regulatory scrutiny

ABOUT US$2.5 billion flowed out from Binance’s stablecoin this week, Binance’s CEO said on Twitter, after US regulators turned their sights on the cryptocurrency.

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China set to leave lending benchmarks alone as economic recovery on track

CHINA is widely expected to leave its benchmark lending rates unchanged at the monthly fixing on Monday (Feb 20), a Reuters survey showed, as investors believe the world’s second-largest economy is on track to recover from Covid-19 slumps.

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Credit Suisse Singapore CEO exits in latest Asia departure

CREDIT Suisse Group’s Singapore chief executive officer Chien Chien Wong is leaving the bank, the latest senior departure to hit the embattled Swiss firm.

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Australia’s central bank says more rate pain needed to tame inflation

AUSTRALIA’S top central banker again projected further interest rate rises in coming months and said the pain was worth bearing to bring inflation down.

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China’s top tech banker goes missing, unnerving finance industry

THE disappearance of high-profile banker Bao Fan is fuelling speculation of a renewed clampdown on China’s finance industry.

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World Bank may loosen loan ratio to free up US$4 billion a year

THE World Bank, under pressure to do more to help developing countries cope with climate change, may change its internal lending guidelines to free up US$4 billion in lending capacity each year, World Bank president David Malpass told Reuters on Thursday (Feb 16).

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Citigroup seeing rebound in wealth management activity in Asia

CITIGROUP is seeing a boost to client activity in its wealth management business in Asia, a top executive at the lender said at a conference on Thursday (Feb 16).

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Bank of America plans job cuts in its investment bank

BANK of America is planning to cut jobs in its investment bank, one of the last major holdouts to bow to expense pressures that have left no one immune.

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Dollar eases as investors price out ‘Armageddon recession’ risk

THE dollar eased on Thursday (Feb 16) as investors scooped up higher-risk currencies after a run of strong US economic data reinforced confidence in the global growth outlook, even though the Federal Reserve looks set to raise interest rates further.

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