The Bank of Japan’s failure to spur demand for its cheap loans is forcing it to buy more treasury bills rather than make more-productive asset purchases.
Following is a transcript of European Central Bank President Mario Draghi’s comments from his monthly news conference in Frankfurt today.
China plans to set up a system for insuring bank deposits this year as part of steps to reduce the government’s role in setting interest rates.
South Africa plans to make it compulsory for all workers to join a retirement fund as it seeks to encourage saving, Finance Minister Pravin Gordhan said.
As Ukraine investors greeted the ouster of President Viktor Yanukovych with the biggest bond rally this year, calls by interim leaders for as much as $35 billion in aid are weighing on the currency.
China’s one-year interest-rate swaps fell to an 11-week low on speculation demand for funds is weakening amid signs an economic slowdown is deepening.
Ukrainian bonds jumped the most since Russia’s bailout pledge two months ago as President Viktor Yanukovych and opposition leaders agreed on early presidential elections and lawmakers changed the constitution.
The second-largest Philippine pension fund plans to hire outside money managers for the first time after its investments almost doubled in size since 2006 to $9 billion.
China’s trust assets surged 46 percent in 2013 to a record 10.9 trillion yuan ($1.8 trillion), underscoring investor interest in products that pay more than bank deposits even as default risks mount.
Greek bank deposits rose 1.1 percent in 2013, the first annual increase since Greece triggered the euro area debt crisis in 2009.
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