A round-up of the key stories across the specialist financial media, including news that the Bank of Japan is committed to continued monetary easing, even as exports growth picks up.
Shirakawa committed to continuing monetary easing
Bank of Japan governor Masaaki Shirakawa said he’s committed to continuing monetary easing and the Japanese economy has stagnated, even as a report today showed the fastest export growth in a year.
Senior Wall Street executives are picking winners and losers in case Moody’s Investors Service follows through with threatened downgrades of the largest banks, with BlackRock warning it might have to shift business to healthier counterparties and Bank of New York Mellon predicting it will attract deposits.
Hong Kong's financial market watchdog will launch a public consultation in the next couple of weeks that seeks to toughen rules for banks sponsoring initial public offerings, including holding them liable for faulty deal documents.
Profit at two big banks is being pinched by allegations they overcharged clients for currency trades. BNY Mellon and State Street this week reported lower foreign-exchange revenue for 1Q, as they battle law-enforcement probes examining whether they defrauded investors by overcharging them on currency trades.
Yuan band may challenge companies, China academic says
The wider yuan trading band may challenge Chinese companies trying to hedge against currency risks amid “extremely easy” monetary policy in developed nations, a senior government researcher said.
