Federal Reserve and European Central Bank are set for major interest rate cuts, with BIS Chief Carstens noting progress in addressing inflation while cautioning central bankers to remain vigilant.
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Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday.
Cross-border lending is growing in the euro zone for the first time since the bloc's financial crisis prompted banks to retreat from highly indebted countries such as Spain, Greece, Ireland and Italy.
U.S. export regulators are seeking more information from at least three would-be exporters of domestic condensate, including Marathon Oil, while half a dozen other firms have recently been cleared to sell the abundant ultra-light oil abroad, people familiar with the process told Reuters.
The main U.S. export authority is telling some oil companies that they should consider exporting a lightly processed form of crude oil called condensate without formal permission, according to people familiar with the discussions.
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