The Federal Reserve Board ordered Goldman Sachs Group to pay penalty of a $36.3 million on Wednesday
According to Federal Reserve Bank The Goldman Sachs Group was ordered to pay a penalty of $36.3 million the Federal Reserve Board for its unauthorized use and disclosure of confidential supervisory information.
The bank of England reduced the interest rates from 0.5% to 0.25% , the lowest it has ever been and the first time reduced since 2009. The Bank of England has also gave an indication that interest rates can reduce further if the economy falls. The Bank of England also announced that £100bn scheme to make the banks to give low interest rate to households and businesses to stimulate the economy of United Kingdom. The Bank of England will also buy UK government and corporate bonds that are worth billions.
On Friday the officials of Hong Kong released a report of quarterly gross domestic product fell by 0.4 percent compered to 4th quarter of 2015, according to the report overall GDP of Hong Kong fell by 0.2 percent in 2015.
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On the 27th of April meeting Federal Reserve Bank during the meeting the policy makes announced that they will keep the federal funds rate as it was without changing. It is still unknown when the will the Federal Reserve will increase the interest rate. The policy makes have not given any indication on how the economic outlook, this could be due to having some options available when they want to make decision in next meeting is in June. The policy makers of Federal Reserve Banks said that they are still in monitoring the indicators of inflation rate as well as the international economy and financial stability. Despite the slowing of the economic growth that there is an improvement on job market, consumer confidence and households incomes. Overall there is improvement in the strengthening in the household sector but the improvement is slow in export and investment. The economy is still not where they have been expecting, therefore tt is still not the best time to increase the rates.
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