6 Min Read
LONDON (Reuters) - A multi-year boom in global house prices which even a pandemic has failed to halt is forcing central banks around the world to confront a knotty question - what, if anything, should they be doing about it?
FILE PHOTO: A real estate sign that reads For Sale and Sold Above Asking stands in front of housing in Vaughan, a suburb in Toronto, Canada, May 24, 2017. REUTERS/Mark Blinch
The surge in property values from Australia to Sweden is often viewed benignly by governments as creating wealth. But history also shows the risk of de-stabilising bubbles and the high social cost as millions find home ownership unaffordable.
Synopsis
By training the algorithms to mine the data, the big data analytics can now predict which customers will most likely resume paying after missing a couple of installments, and who will probably default.
“The best way for a bank or a financial institution to lose a customer is to give the account to a collection agency,” says Sumeet Srivastava, the chief executive of a five-year-old startup that aims to boost collections without human contact.
A 2021 remake of Get Shorty might not have much use for John Travolta’s Miami mobster character. The debt collector role could go to a bot.
3 Min Read
WASHINGTON (Reuters) - The Federal Reserve won’t bend its interest rate or bond-buying policies to help finance the federal government’s rising deficits, Christopher Waller said on Monday in his debut speech as a member of the U.S. central bank’s board of governors.
FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File Photo
“Because of the large fiscal deficits and rising federal debt, a narrative has emerged that the Federal Reserve will succumb to pressures to keep interest rates low to help service the debt and to maintain asset purchases to help finance the federal government,” Waller said in remarks prepared for delivery at an online event organized by the Peterson Institute for International Economics.
All 27 expect BI keeping key rate at record low of 3.50% All 23 giving end-year views expect no change BI has reduced rates by 150 bps during pandemic Decision due on Tuesday, April 20, around 0700 GMT
JAKARTA, April 16 (Reuters) - Indonesia’s central bank is expected leave its key policy rate unchanged at a record low for the rest of the year to support an economic recovery, while trying to maintain financial market stability, a Reuters poll showed on Friday.
Bank Indonesia (BI) will keep the 7-day reverse repurchase rate at 3.50% at a policy meeting on Tuesday, where it has been since February, all 27 analysts surveyed by Reuters said.
2 Min Read
FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester speaks in London, Britain, July 2, 2019. REUTERS/Marc Jones/File Photo
(Reuters) -The U.S. economy still has a long way to go to fully recover from the crisis caused by the coronavirus pandemic, which hit minorities and people with lower levels of education hardest, but the outlook is improving, Cleveland Federal Reserve Bank President Loretta Mester said on Thursday.
“While the economy is still far from our policy goals of maximum employment and price stability, progress is being made and the economic outlook is brightening,” Mester said during a virtual event with students from Swarthmore College.