Morning briefing: Banking regulations could trim 0.38% off U.S. GDP growth
1. The Basel Committee on Banking Supervision responded to worries from banks that proposed regulations would slow down economic growth. The committee said in a report today that the impact would be "modest" and that it would lower GDP growth in the United States by 0.38 percent, euro zone and Japan in 4.5 years.
2. The Bank of England's monetary policy committee minutes show that not all members were convinced that it was necessary to keep interest rates low in August.
3. Iceland's central bank said it was unsure when it should remove capital controls that it introduced to shelter its currency during the worst of the country's economic crisis.
4. Oil prices slipped below $75 a barrel after a report showed that U.S. crude supplies grew further last week.
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