Latest Business News: Low Rates Pledge Buys Time but Builds Risk for Fragile Banks

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Latest Business News: Low Rates Pledge Buys Time but Builds Risk for Fragile Banks

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Latest Business News: Low Rates Pledge Buys Time but Builds Risk for Fragile Banks

by Wochit 1:10 mins

Latest Business News: Low Rates Pledge Buys Time but Builds Risk for Fragile Banks

by Wochit 1:10 mins

A determination by Europe's most powerful central bankers to keep interest rates low might save the continent's fragile banking system from short-term pain but undermines long-term profitability and encourages excessive risk-taking. G20 summits don't always set the pulse racing but this week's gathering of finance ministers and central bankers in Moscow has a better chance than most of grabbing the attention of financial markets. The policymakers meet at a sensitive time with the U.S. Federal Reserve intent on slowing, then exiting a bond-buying program that has been creating $85 billion a month, and Beijing trying to rebalance the world's most dynamic economy. Plans by Moscow film festival topper Nikita Mikhalkov to find a new headquarters for the event, rendered moot several years ago, are back on the agenda. The Oscar-winning director, who last month made a red carpet appearance with Brad Pitt, wants to build a new "festival palace" at Luzhniki Stadium, a large sports complex on the Moscow river near Gorky Park.

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