Bank Service – Left Bank http://left-bank.org/ Sun, 02 Oct 2022 11:01:51 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://left-bank.org/wp-content/uploads/2021/07/icon-2-150x150.png Bank Service – Left Bank http://left-bank.org/ 32 32 Emigration minister offers banking services to Egyptian expats https://left-bank.org/emigration-minister-offers-banking-services-to-egyptian-expats/ Sun, 02 Oct 2022 10:29:15 +0000 https://left-bank.org/emigration-minister-offers-banking-services-to-egyptian-expats/ Minister of State for Migration Soha al-Gendy on Sunday discussed with Chairman of the Board of Directors of Bank Misr Mohamed al-Etribi the possibility of providing specialized banking and investment services to Egyptians abroad . The talks also touched on the possibility of increasing remittances from Egyptians abroad, an important source of hard currency in […]]]>

Minister of State for Migration Soha al-Gendy on Sunday discussed with Chairman of the Board of Directors of Bank Misr Mohamed al-Etribi the possibility of providing specialized banking and investment services to Egyptians abroad .

The talks also touched on the possibility of increasing remittances from Egyptians abroad, an important source of hard currency in Egypt.

The talks are part of the ministry’s strategy to encourage Egyptians living abroad to increase their investments in their country.

The Minister outlined the recommendations of Egyptian expatriates that were presented during the third edition of the Conference of Egyptian Entities Abroad, held in August.

She said the ministry will promote the new savings and investment products in face-to-face meetings or via video conference with Egyptian expatriates.

Etribi, for its part, said the bank is ready to provide all banking services to Egyptian expats, noting that the bank has more than 800 branches in Egypt, including five branches in the United Arab Emirates.

The bank also has a branch in France, an affiliate bank in Germany as well as representative offices in Russia, China, South Korea and Italy, he added.

Soon the bank will open a branch in Saudi Arabia, he said.

He found out about home loans offered by the bank to Egyptians living in the UAE to help them buy residential units back home.

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Telecom operators threaten to cut USSD services due to banks’ 80 billion naira debt https://left-bank.org/telecom-operators-threaten-to-cut-ussd-services-due-to-banks-80-billion-naira-debt/ Thu, 29 Sep 2022 17:21:16 +0000 https://left-bank.org/telecom-operators-threaten-to-cut-ussd-services-due-to-banks-80-billion-naira-debt/ The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says it may be forced to stop Unstructured Supplementary Service Data (USSD) services because banks have failed to pay for the services rendered. Debt has now risen to 80 billion naira from 42 billion naira earlier this year, ALTON chairman Gbenga Adebayo said at an ICT […]]]>

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says it may be forced to stop Unstructured Supplementary Service Data (USSD) services because banks have failed to pay for the services rendered.

Debt has now risen to 80 billion naira from 42 billion naira earlier this year, ALTON chairman Gbenga Adebayo said at an ICT growth conference in Lagos on Thursday.

Mr. Adebayo noted that despite the government’s intervention in the matter, many banks were not cooperating with regard to the payment of their debt.

“Some banks are reacting, some are not. We are approaching the time when we have no choice but to stop providing services to banks.

“I think it’s disgraceful that our colleagues in this sector know they have an obligation to service providers and then walk away.

“Banks collect fees from their customers but refuse to pay the telecom operators. You don’t expect us to continue to provide services, while you’re not paying,” ALTON’s president said.

He added that the irony of the situation was that if it was the other way around, you couldn’t owe the bank a penny.

Telecom operators had threatened to withdraw their USSD services to financial institutions from March 15, 2021 due to the accumulated debt of N42 billion.

However, following the intervention of the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC), the planned action was abandoned.

The two parties (the telcos and the banks) met with representatives of the federal government.

Following the meeting, the CBN and NCC announced the introduction of N6.98 per transaction as new fees for customers using USSD services effective March 16, 2021.

(NOPE)

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Exclusive: Envestnet | Yodlee on Improving Open Banking and Data Infrastructure https://left-bank.org/exclusive-envestnet-yodlee-on-improving-open-banking-and-data-infrastructure/ Tue, 27 Sep 2022 23:31:00 +0000 https://left-bank.org/exclusive-envestnet-yodlee-on-improving-open-banking-and-data-infrastructure/ Having the tools to create successful financial results is crucial in today’s business climate. Advisors and financial service providers need innovative technologies, solutions and intelligence to make financial wellness a reality for everyone. Investnet | Yodlee is a global leader in data aggregation and analytics, and the company and its solutions help consumers live better […]]]>

Having the tools to create successful financial results is crucial in today’s business climate. Advisors and financial service providers need innovative technologies, solutions and intelligence to make financial wellness a reality for everyone.

Investnet | Yodlee is a global leader in data aggregation and analytics, and the company and its solutions help consumers live better financial lives.

Envestnet was founded in 1999 on the premise that technology would change the financial advisor industry.

They have been operating in New Zealand and Australia for over a decade and are actively engaged in developing New Zealand’s banking and open data infrastructure. Trusted local clients include Xero, Booster, AMP Wealth and others.

“Our innovative products and services are trusted by more than 1,400 financial institutions and FinTech companies, including 15 of the top 20 US banks,” said Tim Poskitt, Senior Director and Country Manager, Australia and New Zealand.

“We operate globally, from the United States, Canada and the United Kingdom to India, Australia and New Zealand, and we are actively seeking open banking opportunities in South Africa and Europe.”

The company’s most notable solution is its financial data aggregation API. These APIs provide data from over 17,000 global data sources, so banks and financial advisors can easily obtain banking, credit card, investment, loan, rewards and other account data. they need to give customers actionable financial insights.

For the consumer, account aggregation pulls together information from multiple accounts, tools, and institutions to get a 360-degree view of their finances to enable better spending and saving decisions.

“Clients are no longer just building a single application. They’re bundling APIs together to build more holistic platforms that other people can then use to build a solution that runs on top of that,” Poskitt says.

“This kind of ‘beyond-the-bank’ verification and integration is complex to build. Our leadership in verifying consumer-authorized accounts is proving invaluable as a central part of their customers’ journey. clients.”

The Investnet | Yodlee Credit Accelerator was also launched last year. This solution instantly aggregates, categorizes and summarizes consumer income and expenditure over a three-month period for faster and more accurate lending decisions, in line with Australian and New Zealand responsible lending guidelines.

Companies around the world have also used the technology and seen success. Five months after Finder launched its application using Envestnet | Yodlee’s data aggregation API, over 70,000 Australians have downloaded it and collectively unlocked over $54 million in potential savings.

The company says it continues to work based on market trends and work situations to create and deliver the best solutions to customers.

“As a cloud-focused SaaS company, we have the technology and solutions in place to support our teams and customers in the field and on the go,” Poskitt says.

“Our customers are constantly evolving, and so are we. We look forward to exploring all the opportunities that open banking creates to help consumers live better financial lives around the world.”

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World Bank and agency collaborate to repair Ogun roads https://left-bank.org/world-bank-and-agency-collaborate-to-repair-ogun-roads/ Sun, 25 Sep 2022 16:14:04 +0000 https://left-bank.org/world-bank-and-agency-collaborate-to-repair-ogun-roads/ The World Bank and the French Development Agency have worked with the government of Ogun State for the construction and rehabilitation of rural roads in the state. The project was to provide for the improvement of 125 km of rural roads, the rehabilitation/maintenance of arrears of 200 km, the ad hoc improvement of 450 km, […]]]>

The World Bank and the French Development Agency have worked with the government of Ogun State for the construction and rehabilitation of rural roads in the state.

The project was to provide for the improvement of 125 km of rural roads, the rehabilitation/maintenance of arrears of 200 km, the ad hoc improvement of 450 km, the routine maintenance of 700 km of rural roads and the construction of 100 m cross-drainage structures (culverts and bridges).

The National Coordinator of the Rural Access and Agricultural Marketing Project, Aminu Mohammed, who spoke through the Chief Infrastructure Engineer of the project, Buka Abdulaziz, disclosed during a stakeholder workshop on finalizing legislation on establishment of Rural Access Roads Agency and State Road Fund, held in Abeokuta , the state capital.

Mohammed said the project is being executed through the State Rural Access and Agricultural Marketing Project and the State Ministry of Rural Development in order to reform all rural roads in the state.

He said the blueprint for the program is quality assurance, pledging that there is no compromise.

He explained that RAAMP is a third generation rural access project whose objective is to improve rural access and agricultural commercialization in the participating states.

He added that the project would also strengthen financing and the institutional basis for effective development, maintenance and management of the rural road network.

He said: “We have developed specifications for rural roads, we have also developed a standard. On top of that, also under this program, we have what’s called a quality assurance plan and a quality assurance manual, so rest assured, the program is going to provide an all-weather road, and the quality will not be compromised.

“Sustainability, on the other hand, has to come through sustainable financing, and we are looking at that, how the private sector, road users, can also come to play a role in maintenance management and road development. rural areas in Ogun State. , so that at least the embodiment of road users and private sectors can also raise their hands.

“We are going to complement the effort of the government because, we know that the government now has an overstretched need that has to do with the needs for health care and other basic amenities, they can even change the policies, but in the whole, sustainable financing, the private sector must also intervene, this is thinking and part of the reform.

State Commissioner for Rural Development, Jamiu Odetoogun, revealed that the state will use interventions that it believes will facilitate the transportation system of rural communities.

He added that commendable efforts and mercenaries will be deployed to quickly address the challenges of bad roads on rural roads.

He said, “It is undeniable that a greater percentage of our rural roads are such that they could call for different interventions that will alleviate the challenges of our rural dwellers on the roads and improve the ease of transportation of agricultural products from farms to market and urban communities”.

Also speaking, the State Commissioner for Transport, Gbenga Dairo, pleaded that more attention should be given to rural roads in the state, saying it is a critical economic development of the state.

He added that the intervention is important to get on the administration’s agenda.

He said: “So this program is important, it is interesting and it would be essential to the agenda of the administration of Prince Dapo Abiodun.”

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Live News: Retail sales in Canada drop for the first time in 7 months https://left-bank.org/live-news-retail-sales-in-canada-drop-for-the-first-time-in-7-months/ Fri, 23 Sep 2022 20:15:14 +0000 https://left-bank.org/live-news-retail-sales-in-canada-drop-for-the-first-time-in-7-months/ Scotland faces a dilemma following the UK Chancellor’s mini-budget as business leaders urge the devolved administration to match tax cuts to avoid further divergence with England which could risk economic underperformance. Leftist critics have meanwhile urged Nicola Sturgeon’s government to focus on fixing inequalities and funding services. On Friday, Kwasi Kwarteng’s mini budget statement abolished […]]]>

Scotland faces a dilemma following the UK Chancellor’s mini-budget as business leaders urge the devolved administration to match tax cuts to avoid further divergence with England which could risk economic underperformance.

Leftist critics have meanwhile urged Nicola Sturgeon’s government to focus on fixing inequalities and funding services.

On Friday, Kwasi Kwarteng’s mini budget statement abolished the top tax rate of 45p on earnings over £150,000, replacing it with a single rate of 40p.

The Prime Minister faces a tough decision that by matching tax cuts the system in Scotland will become less progressive and anger supporters while a growing divergence that includes stamp duty may reduce appeal to live and do business there.

The Scottish Government sets its own income tax rate. The country has a maximum rate of 46p for the pound, while that on income between £43,663 and £150,000 is set at 41p.

Liz Cameron, chief executive of the Scottish Chambers of Commerce, said businesses would “eagerly welcome” Kwarteng’s policies and expect the Holyrood government to “offer parity” with the rest of the UK.

“Divergence between nations risks undermining business and investor confidence,” she said.

Edinburgh should take a “more progressive approach”, said Philip Whyte, Scottish director of the Institute for Public Policy Research, a left-wing think tank.

He urged Scotland to use the extra £600million it expects to receive as a result of tax cuts elsewhere in the UK to fund ‘community services and social security to protect families most exposed to the cost crisis”.

The Scottish Greens, who govern with Sturgeon’s Scottish National Party, have condemned the mini-budget as “the politics of shareholders, bankers and the super rich”.

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Charlottesville woman sentenced for bank fraud and aggravated identity theft | USAO-WDVA https://left-bank.org/charlottesville-woman-sentenced-for-bank-fraud-and-aggravated-identity-theft-usao-wdva/ Wed, 21 Sep 2022 13:39:35 +0000 https://left-bank.org/charlottesville-woman-sentenced-for-bank-fraud-and-aggravated-identity-theft-usao-wdva/ CHARLOTTESVILLE, Va. – A Charlottesville woman, who altered and forged checks she obtained without the consent of the owners of the checks, was sentenced yesterday to thirty-six months in federal prison. Samantha Leigh Thomas, 33, pleaded guilty in February 2022 to one count of bank fraud and one count of aggravated impersonation. According to court […]]]>

CHARLOTTESVILLE, Va. – A Charlottesville woman, who altered and forged checks she obtained without the consent of the owners of the checks, was sentenced yesterday to thirty-six months in federal prison.

Samantha Leigh Thomas, 33, pleaded guilty in February 2022 to one count of bank fraud and one count of aggravated impersonation.

According to court documents, Thomas devised a scheme in which she altered or forged stolen checks and then deposited all of her ill-gotten gains into one of five personal checking accounts held at five different financial institutions. The eventual loss suffered by the victims exceeded $25,000. In addition to being required to repay the money she stole, Thomas will be on probation for a period of four years after his release from prison.

US Attorney Christopher R. Kavanaugh of the Western District of Virginia and Damon E. Wood, Inspector in Charge of the Washington Division of the US Postal Inspection Service, made the announcement.

The United States Postal Inspection Service and the Albemarle County Police Department investigated the matter.

Assistant U.S. Attorney Ronald M. Huber is prosecuting the case.

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Biden Climate Named studied at CCP-controlled university linked to Chinese military https://left-bank.org/biden-climate-named-studied-at-ccp-controlled-university-linked-to-chinese-military/ Fri, 16 Sep 2022 21:52:08 +0000 https://left-bank.org/biden-climate-named-studied-at-ccp-controlled-university-linked-to-chinese-military/ President Biden’s latest climate appointee studied at a Chinese Communist Party-controlled university that conducts research for the People’s Liberation Army. Biden this week tapped Dr. Yue (Nina) Chen to serve as the climate risk manager for the Office of the Comptroller of the Currency, where she will develop “climate risk management frameworks for the federal […]]]>

President Biden’s latest climate appointee studied at a Chinese Communist Party-controlled university that conducts research for the People’s Liberation Army.

Biden this week tapped Dr. Yue (Nina) Chen to serve as the climate risk manager for the Office of the Comptroller of the Currency, where she will develop “climate risk management frameworks for the federal banking system.” Chen received his degree in chemical engineering from Tsinghua University, which a think tank considers “very high risk” because of his involvement in a “high level of defense research and alleged involvement in cyberattacks” on behalf of the Chinese military. Tsinghua conducts research in “artificial intelligence, air-to-air missiles, navigation technology, instrument science and materials science”, according to the Australian Strategic Policy Institute.

Chen, who previously served as a climate regulator at the New York State Department of Financial Services, is a proponent of “environmental, social and governance” guidelines, a socially progressive approach to investing known as ‘ESG. Under ESG, investment managers and insurance companies assess the risk of companies based on their commitment to progressive goals in the areas of diversity and climate change. Chen spoke at a panel last year on the topic of pressure on industries to “finally leave fossil fuels behind” and redirect their investments “toward solving the climate crisis.”

Chen is not the first Biden nominee for banking regulator to have studied at a Communist-run university. Saule Omarova, whom Biden appointed last year to oversee the Office of the Comptroller of the Currency, earned a “Lenin Fellowship” at Moscow State University in the late 1980s. The White House withdrew the Omarova’s nomination after Democratic senators said they would oppose her confirmation because of her support for ending the country’s reliance on fossil fuels. Omarova said she wanted to “starve” companies of money to invest in the fossil fuel industry.

Will Hild, the executive director of Consumers’ Research, expressed concern about Chen, citing his upbringing in the “CCP’s training grounds.” He said his appointment was part of Biden’s effort to establish controversial “environmental, social and governance” policies in federal agencies.

The White House did not respond to a request for comment.

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Season ticket holders can now request to pay for tickets in installments https://left-bank.org/season-ticket-holders-can-now-request-to-pay-for-tickets-in-installments/ Thu, 15 Sep 2022 13:30:50 +0000 https://left-bank.org/season-ticket-holders-can-now-request-to-pay-for-tickets-in-installments/ As of this Thursday, September 15, subscribers who wish to benefit from the payment option in installments for the Spotify Camp Nou, Palau Blaugrana Where car park in the 2022/23 season can request this new service which the club is now able to offer after reaching an agreement with a collaborating financial institution. Collection of […]]]>

As of this Thursday, September 15, subscribers who wish to benefit from the payment option in installments for the Spotify Camp Nou, Palau Blaugrana Where car park in the 2022/23 season can request this new service which the club is now able to offer after reaching an agreement with a collaborating financial institution.

Collection of season ticket payments for the 2022/23 season was originally scheduled for July 14, but the board agreed to postpone it due to the current economic climate. Thus, subscribers are offered the possibility of paying for their subscriptions over 3, 4, 6 or 9 months. It should be noted that some families have more than one ticket to pay and therefore a single payment represents a significant expense at present, due to the significant increase in CPIwhich also had an impact on the cost of tickets for this season.

Those who prefer to pay in one installment, as some members have already done since August 16, or those who wish to take advantage of the installment option, should go to the online procedures section of the club’s website. October 10 is the deadline to choose one method or another. If payment has not been made within this period without having opted for the installment option, FC Barcelona will charge the full amount, by direct debit, as is usual.

How to make a request for payment in installments

Season ticket holders who wish to pay in instalments can do so via a form on the FC Barcelona website, in the Members/Online procedures section. Once the form is completed, the club will send a confirmation email and the collaborating financial institution will contact you to continue the process.

Due to legal regulations, only adults, who have a DNI or NIE and reside in Spain can apply.

Choice

Payment will be made by credit card and can be made within 3, 4, 6 or 9 months. The three-month method is interest-free, and from 4 installments, the expenses will be distributed proportionally in each installment.

To facilitate the process, requests for different subscriptions (Spotify Camp Nou, Parking, Basket or Palau) can be grouped together, provided that the total amount is between €60 and €2,500. If the price of each of your tickets falls within this range, you can also choose a different option for each type of ticket.

The payment of the fees will be made by credit card (Visa Where MasterCard). The payer must enable online payments and the first payment will be made upon acceptance. The card must not have an expiration date prior to the end of the term.

The payer can be different from the member holding the subscription, in which case the member must indicate the e-mail address of the payer, and the latter must accept the request.

In the event that the subscription holder is a minor, the legal guardian, father or mother of the latter must accept the financing conditions, as well as the transfer of data to the financial institution.

To learn more about the options offered by the service, as well as detailed information on requirements, terms of use and expenses, please visit the following link.

Statement from Elena Fort, Vice President of the Institutional Sector: “We have worked to find formulas to help the members, because we understand that they are typically from family backgrounds and we are dealing with a delicate economic context. We have proposed a very basic formula, with three payment periods, with no cost for the member, paying the total price of the subscription, or with 4, 6 or 9 months, which will incur management costs. The member must inform the club before October 10 of the payment method they have chosen, and if they have not paid or told us that they wish to pay in installments, they will be invoiced by the FC Barcelona as has been done traditionally.

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Man pleads guilty to fraud scheme targeting Navy personnel | USAO-EDVA https://left-bank.org/man-pleads-guilty-to-fraud-scheme-targeting-navy-personnel-usao-edva/ Tue, 13 Sep 2022 19:18:54 +0000 https://left-bank.org/man-pleads-guilty-to-fraud-scheme-targeting-navy-personnel-usao-edva/ NEWPORT NEWS, Va. – A Newport News man pleaded guilty today to conspiring to defraud the Navy Federal Credit Union and its members in exchange for money and property. According to court documents, from around April to August 2021, 20-year-old Samari Smith conspired with at least four other people to commit credit union fraud by […]]]>

NEWPORT NEWS, Va. – A Newport News man pleaded guilty today to conspiring to defraud the Navy Federal Credit Union and its members in exchange for money and property.

According to court documents, from around April to August 2021, 20-year-old Samari Smith conspired with at least four other people to commit credit union fraud by convincing account holders to withdraw and remit funds under false pretenses. Smith and his accomplices targeted US Navy sailors on online dating apps like Tinder by posing as women interested in a romantic relationship. Smith and his co-conspirators asked victimized sailors to withdraw and return funds – often under the guise of helping a Navy relative who was trying to send them money.

Samari Smith was directly involved in the fraud of four Navy sailors who were then stationed in the Hampton Roads metropolitan area, which resulted in over $40,000 in fraud losses to these victims. Two co-conspirators had previously pleaded guilty, including conspiracy leader Trequan Smith, 21, of Hampton and Emani Burton, 23, also of Hampton. The larger fraud plot orchestrated by Trequan Smith resulted in dozens of Navy casualties and hundreds of thousands of dollars in fraud losses.

Samari Smith pleaded guilty to conspiracy to commit bank fraud and is expected to be sentenced on January 27, 2023. He faces a maximum sentence of 30 years in prison. Trequan Smith pleaded guilty to conspiracy to commit bank fraud and aggravated impersonation. He faces a mandatory minimum sentence of two years in prison and a maximum sentence of 32 years in prison. Burton pleaded guilty to conspiracy to commit bank fraud and was sentenced to one day incarceration and three years of supervised release.

Actual sentences for federal crimes are generally lower than the maximum sentences. A federal district court judge will determine any sentence after considering US sentencing guidelines and other statutory factors.

Jessica D. Aber, United States Attorney for the Eastern District of Virginia; Tira A. Hayward, Acting Inspector in Charge of the Washington Division of the United States Postal Inspection Service; and Frederick Franks, Special Agent in Charge of the Naval Criminal Investigative Service (NCIS) Norfolk Field Office, made the announcement after U.S. District Judge Arenda Wright Allen accepted the plea.

This matter was investigated under the direction and coordination of Newport News’ Financial Crimes Task Force.

Assistant United States Attorney D. Mack Coleman is prosecuting the case.

A copy of this press release can be found on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information can be found on the District Court for the Eastern District of Virginia website or on PACER by searching for Cases #4:22-cr-56, 4:21-cr-67, and 4:21- cr-68.

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BOJ set to end COVID relief program, but no change to loose policy https://left-bank.org/boj-set-to-end-covid-relief-program-but-no-change-to-loose-policy/ Mon, 12 Sep 2022 04:02:00 +0000 https://left-bank.org/boj-set-to-end-covid-relief-program-but-no-change-to-loose-policy/ A man walks past the Bank of Japan building in Tokyo, Japan January 15, 2018. REUTERS/Kim Kyung-Hoon/File Photo Join now for FREE unlimited access to Reuters.com Register End of pandemic relief program reflects easing funding strains BOJ set to keep rates ultra-low at September 21-22 meeting BOJ may consider minor changes to guidelines flagging pandemic […]]]>

A man walks past the Bank of Japan building in Tokyo, Japan January 15, 2018. REUTERS/Kim Kyung-Hoon/File Photo

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  • End of pandemic relief program reflects easing funding strains
  • BOJ set to keep rates ultra-low at September 21-22 meeting
  • BOJ may consider minor changes to guidelines flagging pandemic risk
  • No changes planned to pledge to keep rates low and policy easy

TOKYO, Sept 12 (Reuters) – The Bank of Japan is expected to end a pandemic relief funding program as planned this month and discuss adjustments to a policy guidance that flags the COVID-19 pandemic as the main economic risk, three sources familiar with his thinking say.

A final decision will be made at the BOJ’s policy meeting on September 21-22, when the board reviews data to ensure Japan’s persistently high coronavirus cases are not leading to a sharp drop in economic activity. , the sources said.

Japan’s economy grew 2.2% annualized in April-June, recording a slower-than-expected rebound from a COVID-induced recession amid a resurgence in infections, supply constraints and rising raw material costs weigh on consumption and production.

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Winding up the scheme would reflect the easing of funding strains among small service sector businesses that have been hardest hit by the pandemic, as the lifting of COVID-related restrictions, including the easing of border controls, helps boost consumption. Read more

“While some businesses remain under stress, corporate financing has generally improved,” one of the sources said. “The conditions to end the regime are being put in place,” another source said.

At the policy meeting, the BOJ is expected to maintain its interest rate targets at -0.1% for short-term rates and around 0% for the 10-year government bond yield.

The country’s fragile recovery has forced the BOJ to remain an exception among a global wave of central banks tightening monetary policy to fight soaring inflation.

The BOJ has already canceled most emergency programs to cushion the immediate blow of the COVID-19 crisis, but kept the program targeting small businesses intact until September.

The end of the program would symbolize the BOJ’s move away from crisis-mode policies and towards broader risks such as rising input costs and the outlook for slowing global growth, analysts said.

With the risks to the economy widening, the BOJ could also change part of its policy guidance which pledges to “review the impact of the pandemic” and “strive to support corporate financing conditions.” “, said the sources.

But the BOJ is expected to leave unchanged larger parts of the forecast that promise to step up stimulus as needed and keep interest rates at “current or lower” levels, the sources said.

“The BOJ may see the possibility of discussing minor changes to the guidelines,” a third source said. “But the key message is unlikely to change, which is the need to maintain an ultra-loose policy.”

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Reporting by Leika Kihara; Additional reporting by Takahiko Wada; Editing by Jacqueline Wong

Our standards: The Thomson Reuters Trust Principles.

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