BGN Entrepreneur

US Federal Reserve kept the interest rates at a level close to zero. The Fed’s accompanying statement, which markets were awaiting keenly for any sign of a shift in policy, reiterated its intent to keep rates ‘exceptionally low’ for an ‘extended period‘.
The Bank of England decided to inject a further £25 billion into the British economy through its quantitative easing program, raising the cumulative total to £200 billion. The extra asset purchases will be made over the next three months, a slower rate than ever before.
At a conference in London several leading bankers criticised new proposals for regulating banks that are ‘too big to fail’. Head of Deutche Bank and chairman of the Institute of Internatuonal Finance, Josef Ackermann, defended that large banks as the ‘most efficient’ means of providing financial services to multinationals.

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