UK chancellor George Osborne is reportedly considering a 100-year gilt issue to lock-in historically low interest rates, ahead of next week’s Budget.
Chancellor George Osborne is considering a “super-long” gilt issue of 100 years or more to take advantage of low borrowing costs, reports the Financial Times. The issue would be the first of its kind since the 1930s, when super-long gilts were issued to pay for the costs of the First World War.
Greece is likely to miss budget targets with “large fiscal gaps” uncovered for 2013-2014, according to a leaked Troika document, writes the Daily Telegraph.
China is set to loosen currency policy, in a move that will allow the yuan to appreciate more freely, according to the BBC.
The Federal Reserve stress tests have revealed that 15 out of 19 banks would survive a severe recession, the New York Times reports.
The European Union has witheld cohesion funds from Hungary over budget concerns, says the Wall Street Journal.