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Bank of England keeps key rate at 0.5 per cent, stimulus program on hold as economy recovers

LONDON - Bank of England policymakers have kept interest rates steady and declined to pump more money into Britain's economy amid signals of recovery. The Monetary Policy Committee kept the benchmark interest rate at a record low 0.5 per cent and voted to not increase the monetary stimulus program. The bank has pumped 375 billion pounds ($600 billion) into the economy since January 2009 through its bond-buying program. The decision announced Thursday was widely expected.

Barclays settles Libor 'test case' before UK trial

By Steve Slater LONDON (Reuters) - Barclays <BARC.L> has reached a settlement with a UK care home operator weeks before the start of a court case that was seen as a test case for whether customers might sue banks over the manipulation of Libor interest rates. Barclays had been accused by the care home operator of mis-selling products linked to benchmark interest rates and senior Barclays employees and former executives, including former chief executive Bob Diamond, had been due to testify at the trial.

India central bank leaves rates on hold, as expected

By Suvashree Dey Choudhury and Tony Munroe MUMBAI (Reuters) - The Reserve Bank of India left its policy interest rate unchanged on Tuesday, as expected, and said it does not expect further near-term policy tightening if headline inflation continues to ease towards the bank's targeted level. The RBI kept its key repo rate at 8.00 percent, in line with the forecast of all 53 economists in a Reuters poll last week.

India keeps rates on hold ahead of election

India's central bank kept key interest rates steady on Tuesday in a widely anticipated move less than a week before the start of national elections. After a meeting in the financial capital Mumbai, the Reserve Bank of India (RBI) said the benchmark repo rate, at which it lends to commercial banks, would remain at 8.0 percent. "At the current juncture, it is appropriate to hold the policy rate, while allowing the rate increases undertaken during September 2013-January 2014 to work their way through the economy," RBI governor Raghuram Rajan wrote in his statement.

U.S. judge rules banks must face lawsuit over alleged rate rigging

By Dena Aubin NEW YORK (Reuters) - A federal judge in Manhattan has ruled that a group of international banks must face complaints that they violated the U.S. Commodity Exchange Act by manipulating yen-denominated interest rate benchmarks between 2006 and 2010. In a ruling on Friday, U.S. District Judge George Daniels also granted the banks' motion to dismiss related claims against them for antitrust violations and unjust enrichment.

US regulator sues major banks over Libor manipulation

The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights on Friday for manipulating the Libor benchmark interest rate. The manipulation caused "substantial losses" to 38 US banks that were shut down due to insolvency during and after the 2008 financial crisis, according to the FDIC. The regulator said the accused institutions cheated the closed banks in US dollar-based Libor swaps and other agreements through the manipulation of the rate between 2007 and 2011.

US FDIC sues major banks over Libor manipulation

The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights on Friday for manipulation of the Libor benchmark interest rate. The regulator said the manipulation caused "substantial losses" to 38 US banks which were shut down due to insolvency during and after the 2008 financial crisis. The FDIC said the accused institutions cheated the closed banks in US dollar Libor-based swap and other agreements through the manipulation of the rate between 2007 and 2011.

US FDIC sues major banks over Libor manipulation

The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights on Friday for manipulation of the Libor benchmark interest rate. The regulator said the manipulation caused "substantial losses" to 38 US banks which were shut down due to insolvency during and after the 2008 financial crisis. The FDIC said the accused institutions cheated the closed banks in US dollar Libor-based swap and other agreements through the manipulation of the rate between 2007 and 2011.

New Zealand hikes rates as post-quake recovery kicks in

New Zealand on Thursday became first advanced economy to raise interest rates since 2012, ending a three-year freeze imposed after the devastating Christchurch earthquake. In a widely anticipated move, the Reserve Bank of New Zealand hiked the official cash rate (OCR) 0.25 points to 2.75 percent, saying it no longer needed to be kept at a record low because the economy's expansion "has considerable momentum".

New Zealand central bank raises rates, steady tightening planned

By Naomi Tajitsu WELLINGTON (Reuters) - New Zealand's central bank raised interest rates on Thursday and signaled further rises through early 2017, taking the lead among developed economies in tightening monetary policy as it tries to quell inflation pressures in an outperforming economy. In a widely expected move, the Reserve Bank of New Zealand lifted its official cash rate by 25 basis points to 2.75 percent, raising rates from a record low 2.5 percent.
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