Eurozone overnight interbank interest rates fell to their lowest levels on record on Tuesday, while a sharp rally in government bonds started to ease for some countries.
Strategists said money markets were continuing to adjust to last week's cut in the European Central Bank's main interest rates and its promise of fresh liquidity for banks, which should help short-term rates stable.
âI donât know the key to success, but the key to failure is trying to
please everybody.â The Central Bank of Turkeyâs Gov. Erdem BaÅÃ§Ä± found
out the wisdom in this Bill Cosby quote the hard way this past week.
By Yiannis Papadoyiannis
The effective tackling of nonperforming loans, getting credit expansion moving again and completing the return of the banking sector to private hands are the three main objectives of local lenders following the successful completion of the second stage of their recapitalization.
By Foo Yun Chee
European Union antitrust regulators charged Europe's biggest bank HSBC, US peer JPMorgan and France's Credit Agricole on Tuesday with rigging financial benchmarks linked to the euro, exposing them to potential fines.
The European Commission also said it would charge broker ICAP soon for suspected manipulation of the yen Libor financial benchmark.