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The Canadian government says it is urgently trying to end the forced sterilization of Indigenous women, describing the practice as a human rights violation and a prosecutable offense. Yet police say they will not pursue a criminal investigation into a recent case in which a doctor apologized for his “unprofessional conduct” in sterilizing an Inuit woman. In July, The Associated Press reported on the case of an Inuit woman in Yellowknife who had surgery in 2019 aimed at relieving her abdominal pain. “This is a pivotal case for Canada because it shows that forced sterilization is still happening,” said Dr. Unjali Malhotra, of the First Nations Health Authority in British Columbia. Political Cartoons View All 1182 ImagesBut the Royal Canadian Mounted Police said they would not be investigating Kotaska, because the woman hasn't filed a criminal complaint.

Persons: Andrew Kotaska, sterilize, ”, Unjali Malhotra, “, ” Kotaska, hasn't, Steven Cooper, Lisa Kelly, ” Kelly, Kelly, ” Sen, Yvonne Boyer, ” Boyer, Kotaska, ” Emma Cunliffe Organizations: Associated Press, First Nations Health Authority, AP, Canadian, Royal Canadian Mounted Police, RCMP, Queen’s University, University of British, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group Locations: sterilizing, Yellowknife, Canada, British Columbia, Ontario, Northwest Territories, University of British Columbia

☆ Bank of England halts run of interest rate hikes as economy slows
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. "There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally," the MPC said in a statement. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold. Last week, the European Central Bank raised rates but suggested it might be the last for now.

Persons: BoE, Maja Smiejkowska, William Schomberg, Andy Bruce, Suban Abdulla, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, Andrew Bailey, Bailey, BRITAIN BOE Organizations: Bank of England, REUTERS, MPC, U.S . Federal Reserve, European Central Bank, Thomson Locations: London, Britain

A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Thursday, August 3, 2023. "But I think we are much nearer to it on interest rates on the basis of current evidence." It is expected to raise borrowing costs again later this month, taking Bank Rate to 5.5%. In May, Bailey told the same panel of lawmakers that the BoE was "nearer" to the peak in interest rates. After that, the central bank increased Bank Rate in June and in August.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, we're, we've, Bailey, BoE, I've, Jon Cunliffe, Cunliffe, Swati Dhingra, Dhingra, Farouq Suleiman, Suban Abdulla, Kylie MacLellan, William Schomberg, Sharon Singleton Organizations: Bank of England, Monetary, Companies Bank of England, Treasury, Thomson Locations: London, British

☆ Bank of England launches first sector-wide liquidity 'stress test'
▼ + stars: | 2023-06-19 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, June 19 (Reuters) - The Bank of England has launched its first system-wide liquidity 'stress test' to establish how big banks, insurers, clearing houses and investment funds respond collectively during extreme stresses in markets, it said on Monday. The BoE had said in December that investment funds and other non-bank financial institutions would face their first 'stress test' to apply lessons from the near-meltdown in Britain's pension fund sector in September. Liability-driven investment (LDI) funds, used by pension funds to ensure their long-term payouts, struggled to meet collateral calls after turmoil caused by the fiscal plans of Liz Truss's short-lived government in September. Money market funds also came under "dash-for-cash" pressure during market stresses following economy lockdowns to fight COVID-19 in 2020. "The exercise is not a test of the resilience of the individual firms participating.

Persons: The BoE, BoE, Jon Cunliffe, Liz Truss's, lockdowns, COVID, Huw Jones, Emma Rumney, Kirsten Donovan Organizations: Bank of England, Money, Thomson

☆ Mothers accused of harming their babies are turning to the same science that freed Kathleen Folbigg
▼ + stars: | 2023-06-17 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +17 min

Confirmation of a likely genetic cause for the children’s deaths has implications far beyond Australia for parents who have been accused of killing or harming their babies. The advances in genetic testing used to free Folbigg are giving other families hope that science may explain why their children have died, but experts say sometimes even that can’t exonerate parents – often mothers – accused of harming them. How the science is helping othersOne of the lead authors of the study, Professor Carola Vinuesa, says that Folbigg’s case has encouraged other families and lawyers to come forward, seeking genetic evidence to clear mothers accused of harming their babies. Some mothers accused of injuring their children are seeking a genetic explanation for their symptoms to counter claims of child abuse, she said. “The majority of these mothers have not harmed their children, but the children have these very rare conditions.

Persons: Australia CNN — Kathleen Folbigg, Folbigg, seeped, don’t languish, ” Folbigg, –, Kathleen Folbigg, Caleb, Patrick, Sarah, Laura, Folbigg’s, Craig, Emma Cunliffe, ”, Cunliffe, Roy Meadow, ” Cunliffe, Sharmila Betts, Betts, there’s, Reginald Blanch, she’d, – Caleb, Patrick –, Tom Bathurst, Carola Vinuesa, I’ve, we’ve, Meadow, Francis Crick, Carola Vinuesa's, Michael Bowles, Helen Hayward, Brown, “ It’s, Hayward, they’ve, aren’t, George W Bush, Tracy Chapman, she’s, Chapman, “ I’ve, We’ve, “, ” Chapman, Stringer, Rhanee Rego, Andrew Dyer, Dyer, Michael Daley, Mr Bathurst, Mark Dreyfus, I’ll Organizations: Australia CNN, New South, CNN, ” Police, University of British Columbia’s Allard School of Law, “, NSW, BSN, ABC, Child, Francis Crick Institute, Concorde, MySpace, Reuters, Australian Academy of Science, Law Council, Sydney Institute of Criminology, Australian Lawyers Alliance Locations: Brisbane, Australia, New South Wales, British, United Kingdom, Canada, London, United States, Iraq, Coffs Harbour , New South Wales, Reuters Bathurst, Scotland, Norway, New Zealand

☆ Morning Bid: The ECB won't throw a curve ball
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

It's a given the ECB will deliver its eighth straight rate hike of 25 bps, and confirm that the pace of quantitative tightening will pick up. They might hike again in July and September, is the broad view, putting the inflation battle ahead of the growth slowdown. Macro forecasts are also due but are unlikely to change ECB President Christine Lagarde's determination and view that "there is no clear evidence that underlying inflation has peaked". Reuters GraphicsNever say never, but ING believes markets are "priced to perfection" for the ECB, with at least two rate rises, including Thursday's, in the price. In Asia, Japan's stock market (.N225) continued to scale fresh 33-year highs, while China's economy continued to underwhelm.

Persons: Vidya Ranganathan, It's, Christine Lagarde's, Jerome Powell, Hafize Gaye, Bank of England's Jon Cunliffe, Edmund Klamann Organizations: Vidya, European, ECB, ING, Fed, Bank of England's, Thomson Locations: U.S, Asia, China, Turkey, Brussels

While the communique made no mention of the U.S. debt ceiling stalemate, it figured constantly in discussions. "We need to remain vigilant and stay agile and flexible in our macroeconomic policy amid heightened uncertainty about the global economic outlook," they added in the communique after the meeting. G7 central bank chiefs vowed to combat "elevated" inflation and ensure expectations on future price moves remained well-anchored, a sign many of them will not let their guard down against stubbornly high inflation. CHINA AND SUPPLY CHAINSSeeking to reassure investors after recent U.S. bank failures, the G7 finance chiefs retained an April assessment that the global financial system was "resilient". In the communique, the finance leaders set a year-end deadline for launching a new scheme to diversify global supply chains.

☆ Bank of England policymakers consider 12th straight rate hike
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +3 min

LONDON, May 2 (Reuters) - The Bank of England is weighing up whether to raise interest rates for the 12th meeting in a row next week as it continues to grapple with an inflation rate that remains above 10%, higher than in any other big, rich economy. Following is a summary of recent comments by members of the Monetary Policy Committee. If they become evident, further monetary tightening would be required. JON CUNLIFFE, DEPUTY GOVERNORHas not commented on monetary policy in recent months. MPC MEMBERS WHO VOTED IN MARCH TO STOP RAISING RATESSILVANA TENREYRO, EXTERNAL MPC MEMBERApril 14: "We need to be patient (to see the effects of past rate increases).

☆ Morning Bid: Markets hope China chooses to surprise on the upside
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

April 17 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a careful start to the week in Asia with stocks and bonds little changed and the dollar holding most of Friday's bounce. The caution is understandable given the week holds updates on Chinese economic growth and global PMIs, along with the Fed's Beige book and at least eight Fed speakers. Analysts are generally optimistic for the China data given the stunning strength of recent trade figures. Goldman Sachs (GS.N) and Morgan Stanley (MS.N) had both been expected to report a drop in profit, though that might not be inevitable given last Friday's upside surprises on earnings.

LONDON, April 17 (Reuters) - There may need to be limits initially on the use of major stablecoins for payments, and they should also be backed by high quality and liquid assets to protect consumers, Bank of England Deputy Governor Jon Cunliffe said on Monday. "Systemic stablecoins will need to be backed with high quality and liquid assets," Cunliffe told a conference held by Innovate Finance, a UK fintech industry body. "These could include either deposits at the Bank of England or very highly liquid securities, or some combination of the two. As rules for payment stablecoins are developed it was important to also develop how tokenised bank deposits could be regulated to allow banks and non-banks to develop payments using new technologies, he said. The Bank intends to set out its approach on this alongside a consultation on the payment stablecoin regime, Cunliffe said.

☆ Crypto stablecoins might need limits to avoid disruptions to financial stability, warns Bank of England
▼ + stars: | 2023-04-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Regulators may need to introduce limits on the use of stablecoins in payments to prevent potential threats to financial stability, an official at the Bank of England warned Monday. Stablecoins are cryptocurrency tokens that aim to mirror the value of traditional assets such as fiat currencies. Such assets could include deposits at the Bank of England "or very highly liquid securities," he added. The Bank of England said in February that it was "likely" Britain would need a central bank digital currency if current trends around the decline in cash use continue. The Bank of England, Treasury and industry are still debating concerns over how such currencies would be implemented, such as the privacy of people transacting with them and implications for financial stability.

☆ Morning Bid: Banks calm the horses
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +5 min

As U.S. banking giants calm the horses, global investors are now concentrated on world growth and earnings signals more than interest rate rises for direction - with an assumption the latter are near an end anyway. Somewhat relieved analysts marginally brightened their dim outlook for first-quarter U.S. results compared with a week ago. Futures markets now see a more than 80% chance the Fed will execute one final quarter point rate rise next month - reversing it by September. That rate rise would bring the real Fed policy rate - adjusted by headline consumer price inflation - into positive territory for the first time in three years. The dollar extended Friday's rebound as the May rate rise pricing hardened.

☆ FTSE 100 falls as Ocado sinks; still set for best Feb in six years
▼ + stars: | 2023-02-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) lost 0.6% with shares of Ocado (OCDO.L) plunging 10.5% on the online supermarket and technology group's worse-than-expected full-year loss. "Ocado is in the eye of the cost-of-living storm because its offering isn't synonymous with being the best value," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. Lund-Yates said Ocado is a higher-end option, without the same benefits of enticing people with tangible, physical goods like peer Marks & Spencer (MKS.L). Despite recent volatility, the exporter-heavy FTSE 100 is on track to record its best February performance since 2017 as higher earnings and weakness in the pound earlier in the month made equities more attractive. On the flipside, hedge fund firm Man Group (EMG.L) gained 7.9% after posting a higher full-year core pretax profit and beating expectations on assets under management.

☆ Britain not behind other central banks in digital currency plans, says BoE
▼ + stars: | 2023-02-28 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Feb 28 (Reuters) - Britain is not lagging other central banks in issuing a digital version of its currency for day-to day-payments, Bank of England Deputy Governor Jon Cunliffe said on Tuesday. Central banks across the world are studying digital versions of their currencies to avoid leaving digital payments to the private sector as the decline of cash has accelerated in some cases due to the COVID-19 pandemic. Financial sector officials also say a digital pound would help stay abreast of advances in payments and help keep London a competitive global financial centre. "It's more likely than not," Cunliffe said, when pressed by lawmakers on whether a digital pound would go ahead. "This is not about here is a particular thing that needs to be done, but about opening a new frontier for people to improve payments," Cunliffe.

☆ Consumers to face 20,000 pound limit on digital pound, Bank of England says
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 7 (Reuters) - British consumers would be limited to holding a maximum of 20,000 pounds ($24,000) each if the Bank of England goes ahead with a digital version of the British currency, BoE Deputy Governor Jon Cunliffe said on Tuesday. Britain's government said on Monday that it and the BoE were pressing on with work on a possible digital pound that was likely to enter circulation in the second half of this decade, though no final decision has been made on whether to go ahead. "We propose a limit of between 10,000 pounds and 20,000 pounds per individual as the appropriate balance between managing risks and supporting wide usability of the digital pound," Cunliffe said in a speech to members of UK Finance, a banking industry body. A limit of 10,000 pounds would mean that three quarters of people could receive their pay in digital pounds as well as holding pre-existing balances in the same account, while a 20,000 pound limit would allow almost everyone to use digital pounds for day-to-day transactions, Cunliffe said. ($1 = 0.8332 pounds)Reporting by Huw Jones, editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

☆ UK digital pound: 'Britcoin' could arrive in the second half of the decade
▼ + stars: | 2023-02-07 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

Central banks around the world are considering whether to issue digital currencies as more parts of the economy move online. In the United Kingdom, £10 of a digital pound would be worth £10 in cash. Central bank digital currencies could make online spending more convenient, ease cross-border transactions and boost competition among providers of digital financial assets. Another fear is privacy, since digital currencies would give governments new insights into how people are spending their money. Eleven countries, including The Bahamas and Jamaica, have already launched central bank digital currencies.

☆ Britain presses on with proposals for a digital pound
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] Pound coins are seen in the photo illustration taken in Manchester, Britain September 6, 2017. BoE Governor Andrew Bailey said the implications of a digital pound - including privacy issues - had to be considered. Prime Minister Rishi Sunak asked the BoE to look into the case for a CBDC when he was finance minister in 2021. Unlike cryptoassets, the digital pound would be issued by the central bank and not the private sector and its value would be fixed. Instead they would have accounts with private digital wallet providers, which would provide digital pounds over public infrastructure.

☆ Bank of England and Treasury think UK is 'likely' to need digital currency, the Telegraph reports
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 4 (Reuters) - The Bank of England (BoE) and Britain's finance ministry think the UK is likely to need to create a central bank digital currency (CBDC) later this decade, the Telegraph newspaper reported on Saturday, citing an unreleased government report. The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly. BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE's CBDC work. The European Central Bank is working on a digital version of its currency and is in the process of outlining the broader design. Last month it said it would not offer personal bank accounts but would allow person-to-person payments.

☆ Cryptocurrencies could cause the next financial crisis, Indian central bank head warns
▼ + stars: | 2022-12-21 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Shaktikanta Das, governor of the Reserve Bank of India (RBI), called for private cryptocurrencies to be "prohibited." The next financial crisis will be caused by private cryptocurrencies, if these assets are allowed to grow, the head of India's central bank warned on Wednesday. Das' comments come as the central bank pushes to introduce its own digital version of the Indian rupee. The digital rupee is a type of central bank digital currency (CBDC). China's central bank is furthest ahead globally on the development of a CBDC.

☆ FTX collapse shows why crypto must be regulated before it threatens stability of financial system, says Bank of England official
▼ + stars: | 2022-11-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The Bank of England's deputy governor for financial stability spoke at a conference on Monday. Crypto must be regulated before it's large enough to threaten overall financial stability, he said. Jon Cunliffe, the bank's deputy governor for financial stability, spoke at a conference at Warwick Business School on Monday. Cunliffe said that while crypto isn't large enough "to threaten the stability of the financial system, its links with mainstream finance have been developing rapidly." In his speech on Monday, Cunliffe added that some crypto technologies could also improve the financial system.

☆ Morning Bid: Bulls take cover
▼ + stars: | 2022-11-21 | by ( Yantoultra Ngui | ) www.reuters.com time to read: +2 min

We have seen this story before of markets getting ahead of themselves, but the latest China worries are resurfacing just as global investors dial back hopes of an imminent Fed pivot on interest rates. In Europe, ECB policymakers are seen taking an even tougher stance. Three top officials said on Friday that the European Central Bank must raise interest rates high enough to dampen growth as it fights record inflation and it could soon start running down its 5 trillion euro ($5.2 trillion) debt pile. Minutes from the ECB meeting and the Fed this week will provide markets more direction on the outlook for interest rates, while manufacturing and consumer confidence data will give a snapshot of the health of economies. Meanwhile, U.S. President Joe Biden is proving that age is just a number as he turned 80 on Sunday, making him the first octogenarian president in U.S. history.

☆ Collapsed crypto exchange FTX owes top 50 creditors over $3 billion, new filing says
▼ + stars: | 2022-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Embattled cryptocurrency exchange FTX owes its creditors north of $3 billion, according to a new filing over the weekend. A list of FTX's top 50 unsecured creditors, which excludes their names and other identifiable information, shows that the largest of them all is owed more than $226 million. FTX may have more than 1 million creditors, according to an earlier bankruptcy filing. FTX's disgraced founder Sam Bankman-Fried stepped down as CEO earlier this month as the company filed for Chapter 11 bankruptcy protection. Bank of England Deputy Governor Jon Cunliffe said the FTX debacle has added greater impetus for regulators to act on crypto.

☆ Morning Bid: Bucking the trend
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +4 min

With an anxious look at China's worsening COVID surge, the U.S. dollar appears revitalized just as speculators turn against it for the first time this year. Peak interest rates, peak COVID, peak energy all get discussed as themes for 2023, along with recession risks, a return of bonds and a cresting of the supercharged dollar - which has already given back almost half its near 20% surge this year. With one eye on Federal Reserve meeting minutes later in the week, futures markets continue to nudge peak Fed rates next year further above the 5% level. Also anxious about the unfolding property bust, China's central bank and banking and insurance regulator said domestic banks should step up credit support for the economy. The dollar also got a lift from the widening crypto shock, with bitcoin falling back below $16,000 on Monday.

LONDON, Nov 21 (Reuters) - Sterling slipped against a strengthening U.S. dollar on Monday as global risk sentiment was dented by rising COVID-19 cases in China, which led to new restrictions in the world's second largest economy. Risk-sensitive sterling was down 0.6% to $1.1816, on track for its biggest daily decline against the U.S. dollar in almost two weeks as China battles numerous COVID flare ups. The pound is expected to weaken further this week with public finances data due on Tuesday and flash PMI numbers on Wednesday. "Weaker sentiment and worsening public finances suggest that the recent correction in real money sterling shorts is already fully valued," said Stretch. Bitcoin was down 2.1% against sterling on the day to 13.600, after briefly falling to the lowest level since December 2020.

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