What the other papers say this morning - 9 April 2013


Fed warned: rein in QE

BlackRock money manager Rick Rieder, who oversees $763bn in fixed income investments, has called on the US Federal Reserve to rein in its programme of quantitative easing, saying its bond-buying tactics are a “large and dull hammer” that have distorted markets and risk stoking inflation. “Fed policy has had a distorting effect,” he told the Financial Times.


China in currency deal

Beijing’s slow but determined push to internationalise the Chinese currency will pass another critical landmark this week as Australia and China prepare to start direct trading between the Australian dollar and the yuan. The two countries, , are due to start direct trading between their currencies tomorrow.

The Daily Telegraph

Tobin Tax attacked

Opponents of a proposed financial transaction tax said the new charge would lead to a massive upheaval in the financial services industry, shackle investors and harm the economy. “It is clear that the tax liability of a market marker would dwarf his revenue,” a study commissioned by the European Repo Council said.