Direct Line expects lower profit before tax due to discount rate change
Direct Line Insurance Group Plc , Britain's largest motor insurer, said it expected profit before tax to fall due to a change in the discount rate.
TOKYO Bank of Japan Governor Haruhiko Kuroda said on Wednesday that interest rates would rise when the central bank's 2 percent inflation target is achieved although it's unlikely borrowing costs would increase anytime soon.
"It is unthinkable that long-term interest rates would stay around zero percent when the 2 percent price goal is achieved," Kuroda told a parliament committee.
"If (further) easing is necessary, interest rates could be lowered further as needed. On the other hand, interest rates would rise if the price stability target is met."
(Reporting by Tetsushi Kajimoto; Editing by Shri Navaratnam)
LONDON Associated British Foods, owner of discount fashion retailer Primark, said on Monday it was not seeing any signs that British consumers were starting to rein in spending, contradicting official data which has pointed to a slowdown.
LONDON Britain's major share index was up on Monday, boosted by earnings updates and a weak sterling, while motor insurers were hit by a regulatory change which could lead to higher payouts, and merger disappointment weighed on LSE shares.