TOKYO, Oct 23 (KUNA) -- China's central bank said Friday it will cut benchmark interest rates
and the reserve requirement ratio for banks in an attempt to revive slowing economic growth.
In July, the banking company was fined USD370m for attempting to manipulate benchmark interest rates
, including the LIBOR.
THREE former employees of Barclays have been charged in relation to the alleged manipulation of Libor benchmark interest rates
stocks fell Wednesday for the first time in three days as Federal Reserve Chair Janet Yellen said the central bank's stimulus program could end this fall and benchmark interest rates
could rise six months later.
An independent monetary policy committee should set benchmark interest rates
, the panel appointed by Reserve Bank of India (RBI) governor Raghuram Rajan has recommended in a 130-page report.
This was the second time that Chinas central bank raised the benchmark interest rates
this year and the fourth such increase since the start of last year.
UBS Japan (NYSE: UBS) has been fined USD100m over accusations of manipulating benchmark interest rates
Summary: Rising borrowing costs may become a major hurdle Australia's nascent economic recovery in the months ahead: while the RBA has kept benchmark interest rates
As benchmark interest rates
dip to multidecade lows, investors are piling their cash into higher yielding securities.
Superintendent of Financial Services Benjamin Lawsky noted that "Deutsche Bank employees engaged in a widespread effort to manipulate benchmark interest rates
for financial gain.
The central bank cuts its benchmark interest rates
by half-a-percentage point following a drop in economic growth in the country.
Citing strong economic recovery in the country, the IMF said that the central bank could consider increasing its benchmark interest rates