Review: The minutes of the monetary-policy meeting in the US offered a surprise. Over the weekend the global banks were given a helping hand. The strict Basel rules that the banks were about to implement were postponed by up to four years. Generally this is very good news for the banks as it will now be possible for them to keep a large proportion of their capital ‘at work’, hence generating higher earnings. In actual fact, however, the effect may be questioned because – as pointed out by
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Positive sentiment to be expected