AGP Executive Report
Last update: 11 hours agoCentral Bank Shake-up: ECB President Christine Lagarde will leave on February 7, nine months early, as the bank holds rates at 2.5% amid rising energy costs. Rate Hikes: The Bank of Canada raised its benchmark rate to 2.5% for the first time in three years, warning the move may not feel good but is aimed at containing inflation; lenders are already passing it on to borrowers. UK Bank Tax: Lloyds called the government’s £1.5 billion bank-tax increase “unhelpful” for growth and competitiveness, even as its third-quarter pre-tax profit nearly doubled to £2.3 billion. Fraud Liability: India’s Supreme Court said banks should compensate digital-fraud victims when failed due diligence enabled the losses, pressing for enforceable rules. Bank Results: Mashreq’s nine-month pre-tax profit rose 18% to Dh7.3 billion, while Sri Lanka’s Union Bank reported a 48% rise in nine-month pre-tax profit to Rs. 1.7 billion.
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