Central Banks' Low-Rate Bonanza; Libor Trial Update; HSBC Exits...

Receiving Wide Coverage ...

Low-Rate Bonanza: Breaking with tradition, both the European Central Bank and the Bank of England (separately) pledged to keep interest rates low indefinitely. The forward guidance "underscored the stakes as officials around the world try to safeguard fragile economies as financial markets swing wildly," reports the Journal. Per the FT, ECB President Mario Draghi said the timing of the two announcements, tied to meetings held by both central banks, was coincidental. He...