Latest news with #Bache
BBC News
09-04-2025
- Entertainment
- BBC News
Disabled Wolverhampton trio star in upcoming photo exhibition
Three people with multiple learning disabilities will star in a new photographic display later this Bache, Kenny Oates and Parmi Banga, from Wolverhampton, have taken part in the Front and Centre project organised by City of Wolverhampton Council and charity Changing Our free exhibition aims to see beyond disability, using photographs to tell people's stories and to show ordinary experiences such as growing up and family life, organisers will go on show at the Ikon Gallery, in Birmingham, from 17-21 April. Mr Bache, Mr Oates, Ms Banga and their families attended charity workshops to create photographs for the exhibition as well as using pictures from home, the council Jasbir Jaspal, cabinet member for adults and wellbeing, said: "We know that people with disabilities are rarely given opportunities within the arts as their disability can, wrongly, be seen as a barrier."So we are delighted to be able to work with Changing Our Lives and to give David, Kenny and Parmi the chance to be part of this important exhibition." Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
Reuters
08-04-2025
- Business
- Reuters
Norway's central bank is prepared for more market volatility, governor says
OSLO, April 8 (Reuters) - Norway's central bank is closely monitoring the current situation in financial markets and will be prepared for continued volatility, Norges Bank Governor Ida Wolden Bache told Reuters on Tuesday. Stocks worldwide swung wildly on Monday as investors grappled with U.S. President Donald Trump's sweeping tariffs that last week drove the biggest weekly drop for the U.S. stock market since the onset of the COVID-19 pandemic five years ago. "The uncertainty about the economic outlook is greater than normal, and I think we should be prepared for swings in financial markets also going forward," Bache said in an interview. "So our approach to this is, of course, to monitor developments very closely." She added the current situation on financial markets held "many differences" from the one seen during the COVID-19 pandemic and that the bank had not made any new forecasts for the Norwegian economy. "We are not giving any new signals about monetary policy at this time," she said. When asked whether Norges Bank had been in touch with other central banks to discuss some form of coordinated action, Bache said: "No".
Reuters
13-02-2025
- Business
- Reuters
Norway central bank may soon be ready for 'a little' easing of rates, governor says
Summary Annual speech by Norway's central bank governor Nearing time for monetary policy easing Says restrictive stance still needed Warns of trade war impact OSLO, Feb 13 (Reuters) - Norway's central bank is nearing its first interest rate cut in five years, although keeping inflation in check will require a higher cost of borrowing than for much of the last decade, Norges Bank governor Ida Wolden Bache said on Thursday. Unlike other Western central banks, most of which began easing policy last year as growth slowed and inflation declined, Norges Bank has kept its benchmark rate at a 17-year high of 4.50% and said it would wait until March this year before cutting. "We are approaching the time when we can ease monetary policy a little, but a restrictive stance is still needed," Bache said in an annual address before business leaders and government officials. "And we must be prepared for a higher interest rate level than we had been accustomed to over the past decade," she added. Norges Bank last cut rates in May of 2020 and has since hiked 14 times, each time by a quarter percentage point. Norges Bank in December forecast three rate cuts to 3.75% by the end of 2025, but it is set to update this view next month along with its March 27 policy announcement. Norway's core rate of inflation in January unexpectedly rose to 2.8% from 2.7%, above the central bank's target of 2.0%, limiting the scope for rate cuts, economists have said. The governor on Thursday warned that rising global protectionism, including tariffs imposed by U.S. President Donald Trump on China and other nations, could hurt Norway's economy. "A full-out trade war where all countries raise tariffs in unison could act as a global cost shock and lead to lower economic activity and higher inflation," Bache said. For the time being, however, it remains unclear what global trade will ultimately look like and the impact on Norwegian inflation and interest rates is thus uncertain, she added. Separately, Bache said policymakers in Norway should consider changing the ethical rules of the country's $1.8 trillion wealth fund so that it can invest in major weapons makers.
Reuters
13-02-2025
- Business
- Reuters
Norway may need to let $1.8 trillion sovereign fund take stakes in arms makers, says central bank chief
OSLO, Feb 13 (Reuters) - Policymakers in Norway should be open to the idea that the country's $1.8 trillion wealth fund be allowed to invest in weapons makers that are currently banned from its portfolio on ethical grounds, the central bank chief said on Thursday. The fund follows rules decided by parliament that prevents it from buying stakes in the likes of Airbus ( opens new tab, Boeing (BA.N), opens new tab, BAE Systems (BAES.L), opens new tab, Lockheed Martin (LMT.N), opens new tab and Safran ( opens new tab on the grounds that they contribute to the making of nuclear arms. But those ethical rules, in place since 2004, may need to change, central bank Governor Ida Wolden Bache said in her annual address. "We must be open to the possibility that what is considered to be ethically acceptable may change as the world again becomes marked by military rearmament and growing tensions between countries," Bache said. There is a growing debate in Norway about whether the fund should be allowed to invest in defence companies at a time when European countries are ramping up military investment. The opposition Conservative Party has said the country should consider loosening the fund's restrictions, arguing that it was no longer reasonable to exclude companies that produce equipment critical to Norway and its allies' battle power. The central bank operates the fund via Norges Bank Investment Management (NBIM). The fund's ethical guidelines are decided by lawmakers, who seek to get a broad consensus to ensure the rules' continuity. Any changes in ethical guidelines would require thorough evaluation, however, to maintain confidence in the system and ensure that rules are not frequently altered, Bache said. The issue could ultimately land on the desk of Norway's recently appointed finance minister, Jens Stoltenberg, who until last October was the leader of the NATO military alliance and called for higher spending by allies on defence. Separately, Bache said that Norway was nearing its first interest rate cut in five years.
