3 Min Read
TOKYO (Reuters) - With interest rates already ultra-low, Japan must switch to bolder fiscal spending to pull itself out of economic stagnation, said Kikuo Iwata, the central bank’s former deputy governor and architect of its “bazooka” monetary stimulus.
FILE PHOTO: Bank of Japan s (BOJ) Deputy Governor Kikuo Iwata speaks during an interview with Reuters at the BOJ headquarters in Tokyo June 24, 2013. REUTERS/Toru Hanai
As a vocal advocate of aggressive monetary easing, Iwata provided the academic backbone of Bank of Japan Governor Haruhiko Kuroda’s massive asset-buying scheme deployed in 2013 that aimed to accelerate inflation to 2% in roughly two years.
(Adds details on market volatility, ethics memo)
WASHINGTON, Feb 2 (Reuters) - U.S. Treasury Secretary Janet Yellen is calling a meeting of top financial regulators this week to discuss market volatility driven by retail trading in GameStop Corp and other stocks.
Yellen will convene the heads of the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission, a Treasury official said on Tuesday.
Yellen sought and received permission from ethics lawyers before calling the meeting, according to a document seen by Reuters, and to engage on wide-ranging issues in the financial services industry.
A group of Republican U.S. senators held productive discussions with Democratic President Joe Biden about COVID-19 relief, but they did not come to agreement on a package, Senator Susan Collins said.
Global stock markets surged for a second day on Tuesday, spurred by increased optimism about more U.S. stimulus and the economic recovery, while retail investors retreated from GameStop and fleeting interest in silver, causing their prices to tumble.
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FRANKFURT (Reuters) - Fresh from toppling the head of Germany’s top financial regulator last week, lawmakers are turning their fire on finance minister Olaf Scholz and his deputy Joerg Kukies.
FILE PHOTO: German Finance Minister Olaf Scholz attends a session at the lower house of parliament Bundestag in Berlin, Germany, December 9, 2020. REUTERS/Hannibal Hanschke
As their inquiry into the collapse of Wirecard gathers pace, it has put Germany’s biggest fraud centre stage in national elections in which Scholz wants to stand for chancellor.
“The focus of the parliamentary inquiry will more and more shift to the role of Scholz and his ministry,” Florian Toncar, a lawmaker involved in the investigation said.