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27 December 2012
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News on the global financial markets

  Morning Bell 
  Industry News 
  • BRIC countries face uncertain growth without reforms
    A decade of high growth for the BRIC countries -- Brazil, Russia, India and China -- is over as average gross domestic product growth is forecast to slip to 4.5% in 2012 from an annual average of 8% from 2000 to 2008. Each country faces particular challenges in modernising to boost growth rates going forward. Russia must address corruption to attract investment and Brazil has to simplify regulations. The Wall Street Journal (26 Dec.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Carney open to unconventional policy tools at BoE
    The Bank of England's incoming governor Mark Carney signalled in an 11 December speech that he may support use of unconventional monetary policy tools by the central bank, such as issuing interest rate guidance and printing money to lift Britain's economy. Many believe that Carney, currently head of the Bank of Canada, will turn first to rate guidance since he used it in 2009 to guarantee low interest rates to Canadian businesses after the financial crisis. The Wall Street Journal (26 Dec.) LinkedInFacebookTwitterEmail this Story
  • Japan considering raising capital requirements for more banks
    Japan's Financial Services Agency is considering holding banks beyond the nation's three biggest to stricter capital requirements starting in 2016. The Financial Stability Board already requires three Japanese banks to set aside more capital to protect the stability of the global banking system. Reuters (24 Dec.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • Loose regulation of China's trust companies worries some
    The announcement by an arm of China Citic Group -- that it was delaying a payment to investors due 20 December because one of its debtors missed a payment -- has highlighted the problems with lax regulation of China's trust companies. Weeks earlier, a branch of state-owned Huaxia Bank failed to pay the promised interest on a mature wealth-management product. The Wall Street Journal (24 Dec.) LinkedInFacebookTwitterEmail this Story
  ASIFMA News 
He who has imagination without learning has wings but no feet."
--Joseph Joubert,
French essayist

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