Banking Latest News: Bundesbank Says German Economy Grew Strongly in Second-quarter

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Banking Latest News: Bundesbank Says German Economy Grew Strongly in Second-quarter

Banking Latest News: Bundesbank Says German Economy Grew Strongly in Second-quarter
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Banking Latest News: Bundesbank Says German Economy Grew Strongly in Second-quarter

by Wochit 0:56 mins

According to the Bundesbank, the German economy showed robust growth in the second quarter of this year, boosted by industrial production and construction. China's central bank is giving lenders more freedom to set interest rates in a move that could foreshadow major changes in the country's banking sector. While the world's rich are getting wealthier and putting more money into private banks, a growing proportion of the cash is from geo-political troublespots in the Middle East and Asia. That is leading the banks, mostly based in Europe and the United States, to spend hundreds of hours on costly checks aimed at meeting regulators' demands to root out bad clients, eating into their profit margins.

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