Asian countries seek to boost oversight on rating agencies

SINGAPORE: Asian countries, including India, today discussed efforts being initiated to bring down their "mechanistic" reliance on credit ratings and to strengthen oversight of rating agencies.

Osborne RBS Decision Seen Weighing on Legacy as U.K. Chancellor

George Osborne is about to take a decision that will help determine his legacy. While the fastest growth since 2010 is boosting voter confidence in his stewardship of the U.K. economy, his ruling on the future of Royal Bank of Scotland Group Plc may yet mar that achievement.

India raises interest rates for the second month running

India's new central bank governor has raised interest rates for the second consecutive month by a quarter of one percent to 7.75% to try to fight inflation.

Banks in Spain, France and Italy sell govt bonds in Sept: ECB data

FRANKFURT: Spanish, Italian and French banks offloaded some of their government bonds in September, European Central Bank data showed on Friday.

Thai Central Bank Cuts Growth Forecast, Rules Out More Stimulus

The Bank of Thailand said risks to financial stability, including high levels of household debt, have reduced the scope for further monetary easing, even as it cut its growth forecast for the second time this year.

Euro Hedging Jumps as Europe Exporters Bemoan Gains: Currencies

The euro’s unexpected rally this year is spurring a jump in hedging as the currency’s strength threatens to damp earnings at companies from Deutsche Lufthansa AG (LHA) to luxury-goods maker LVMH Moet Hennessy Louis Vuitton SA. (MC)

ECB to begin bank stress tests under new role

FRANKFURT: The European Central Bank said Wednesday it will start next month to check the balance sheets of 124 eurozone banks and "stress-test" them before it becomes the sector's supervisor next year.

Japan posts trade deficit for 15th consecutive month

Japan has posted a trade deficit for the 15th month in a row in September as a weak yen pushed up import costs.

Not Bank of England's role to regulate house prices - policymaker

Oct 21 (Reuters) - It should not be the Bank of England's job to regulate house prices, a BoE policymaker said on Monday.

ECB President Mario Draghi asked EU to keep state aid rules for banks flexible

MILAN: Banks that are still viable but need state aid to boost their capital base should be allowed to receive help without inflicting losses on their junior bondholders, European Central Bank President Mario Draghi told the European Commission.

UK's George Osborne says actively considering RBS 'bad bank': Report

LONDON: British finance minister George Osborne said his ministry was actively looking at breaking up the state-backed Royal Bank of Scotland to create a "bad bank" to house its problem loans, the Daily Telegraph newspaper reported on Friday.

Fed should not raise rates to fight financial risk: Evans

CHICAGO (Reuters) - The Federal Reserve should be "extraordinarily careful" about hiking interest rates to head off potential risks to financial stability when more effective tools, like supervision, are available, a top Fed policymaker argued on Friday.

Italy's Monti quits party as budget opposition mounts

ROME (Reuters) - Former Prime Minister Mario Monti on Thursday left the party he founded this year as political tensions over Italy's 2014 budget raised a new threat to the stability of Enrico Letta's government.

RBNZ Deputy Governor: New Zealand House Prices Are Risk to Future Financial Stability

WELLINGTON, New Zealand--High New Zealand house prices are a risk to future financial and price stability, Reserve Bank Deputy Governor Grant Spencer said Tuesday.

Abe Aide Urges BOJ Law Revision to Boost Inflation Expectations

Japan should revise its central bank law to make it accountable for job creation and ending deflation, said Etsuro Honda, an economic adviser to Prime Minister Shinzo Abe.

World top bankers warn of dire consequences if U.S. defaults

(Reuters) - Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic."

Central banks must be careful when tightening policy: IMF

WASHINGTON: Central banks of advanced economies must try to limit collateral damage to emerging markets when the time comes to tighten monetary policy, the International Monetary Fund's steering panel said on Saturday.

Draghi Says ECB Guidance Allows Rate Cuts on Volatility

European Central Bank President Mario Draghi said policy makers’ pledge to keep interest rates low explicitly allows for cuts in borrowing costs if market volatility resumes.

ECB raps Hungary for neglecting central bank independence

FRANKFURT (Reuters) - The European Central Bank has warned Hungary against tampering with central bank independence and pushed it to take the ECB's opinions more seriously.

IMF warns that any US default on its debt obligations would imperil global economy

WASHINGTON — A U.S. debt default in the event that a politically divided Congress fails to raise the federal borrowing limit would imperil the entire global economic recovery, a senior International Monetary Fund official warned Wednesday.

U.S. financial stability group discusses debt ceiling, shutdown

WASHINGTON (Reuters) - U.S. financial regulators discussed the federal debt ceiling and the effect of the government shutdown on market monitoring during a phone conversation on Tuesday, a Treasury Department spokesman said.

Greece forecasts it will emerge from recession in 2014

Greece has predicted that it will emerge from its six-year long recession next year, in a sign it may be finally recovering from its debt crisis.

US shutdown is starting to hit business, says Commerce Secretary

US Commerce Secretary Penny Pritzker has warned that business is starting to suffer from the federal shutdown.

Euro zone inflation pressures ebbed further in August: ECRI

BANGALORE: Euro zone inflation will ease further in coming months after price pressures fell to their lowest in almost four years, an indicator designed to predict cyclical trends showed on Friday.

RBC Sells Largest Structured Note Tied to Blackstone Shares

Royal Bank of Canada sold $18.3 million of three-year notes tied to Blackstone (BX) Group LP, the largest offering linked to the buyout firm since at least January 2010.

US shutdown risk to global economy if protracted: ECB

The US government shutdown could threaten not only the United States but also the global economy if it lasts, European Central Bank chief Mario Draghi said Wednesday.

George Osborne: We'll run a budget surplus

Chancellor George Osborne has said he wants the government to be running a surplus in the next Parliament and can get there without raising taxes.

EU's Rehn: Italy needs political stability for reforms, growth

PARIS (Reuters) - Italy must quickly restore political stability to make the reforms it needs to return to growth, the European Union's top economic official said on Tuesday.

EU, US aim to overcome key trade talks barrier by January

Differences on norms set for anything from food and aviation safety, to standards for electric cars or the regulation of financial services, stand in the way of efforts to strike an ambitious transatlantic deal creating the world's largest free trade area.