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Turkey changes tack and cuts rates
The Central Bank of Turkey has shifted its monetary policy stance and cut rates on signs of slowing growth and below-target inflation in the years to come.
FOMC members see US contraction next year
Almost a third of the members of the Federal Open Market Committee (FOMC) see the US economy shrinking in 2009, the rate-setting board's latest economic projections reveal.
Latvia looks to IMF and EU for support
Riga on Thursday said that it would seek aid from the European Union (EU) and International Monetary Fund (IMF) in a bid to stave off a financial meltdown.
Swiss shock with 100 basis-point cut
The Swiss National Bank (SNB) surprised markets on Thursday by slashing its rate-target band by a full percentage point on signs of a sharp slowdown.
Kuwait enhances operations to restore liquidity
The Central Bank of Kuwait on Wednesday has launched new open-market operations in a fresh bid to shore up liquidity.
Fed's Kohn unconvinced rates should burst bubbles
The Federal Reserve's vice-chair believes it is still wrong for monetary policy to aim at bursting asset price bubbles despite events since last summer.
Trichet defends decision to keep minutes secret
Jean-Claude Trichet, the president of the European Central Bank (ECB), has defended the institution's decision to keep details of its monetary policy meetings under wraps, saying the publication of minutes could damage credibility.
Bank could have cut by 200bp
Members of the Bank of England's Monetary Policy Committee, who shocked markets earlier this month when they slashed rates by 150 basis points, had considered an even bigger cut.
INTERVIEW: Raghuram Rajan
Raghuram Rajan, a professor at the University of Chicago and a former chief economist at the International Monetary Fund (IMF), talks to CentralBankNews.com about the future role of the Fund.
Boston Fed covers global imbalances
The Boston Federal Reserve has published a new e-book on global imbalances.
Euro a solution for currency risk: Hungary's Simor
Euro adoption could help eliminate potentially dangerous currency mismatches, said Andras Simor, the governor of the National Bank of Hungary.
RBNZ - November Financial Stability Report
Global market conditions continue to affect the cost and accessibility of offshore funding on which the New Zealand banking system relies, says the latest Reserve Bank of New Zealand's Financial Stability Report.
Bank's Besley: inflation below target in 2009
Inflation is likely to fall below target next year despite the upward pressure on inflation from the weakening pound, said Timothy Besley, a member of the Bank of England's Monetary Policy Committee.
RBA justifies November cut
An attempt to reduce the risk of a sharp weakening of demand was behind the Reserve Bank of Australia's cut in the cash rate by 75 basis points to 5.25%, according to minutes of the November meeting.
Fed's Hoenig wants rules for Wall Street failures
A clear set of rules for handling investment bank bankruptcies is needed, said Thomas Hoenig, the president of the Kansas City Federal Reserve.
IMF's Lipsky: fiscal stimulus required
Global fiscal stimulus of 2% of GDP is required in the current situation, said John Lipsky, the first deputy managing director of the International Monetary Fund.
France's Noyer calls for exchange-rate flexibility
The unwinding of global imbalances requires greater flexibility from countries with large current account surpluses and fixed exchange rates, said Christian Noyer, the governor of Banque de France.
British inflation dips by record amount
British annual inflation fell to 4.5% in October, down from 5.2% the previous month, on the back of the slump in oil prices. The 0.7 percentage point slide is the biggest since January 1997, when official records began, and since April 1992 based on…
Public to blame for inflation: Zimbabwe's Gono
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has said the public are to blame for the country's bout of hyperinflation.
FSF and IMF agree differentiation of roles
The Financial Stability Forum (FSF) and the International Monetary Fund (IMF), two of the most prominent multilateral organisations, have moved to clarify their respective roles to prevent a tussle for greater regulatory power.
Paulson blames lack of time for Tarp u-turn
The US Treasury reneged on its earlier promise to buy banks' distressed assets because it ran out of time, Hank Paulson, the US treasury secretary told Congress on Tuesday.
Governors to sit on UN regulatory reform panel
The governors of the Malaysian and Nigerian central banks and a former head of the Reserve Bank of India will form part of a UN task force to look into reform of the global financial system.
Bank of Latvia - Annual Report 2007
Ilmars Rimsevics, the governor of the Bank of Latvia, praised Riga for implementing inflation-curbing measures, in the central bank's latest Annual Report.
CNB's Singer: inflation to dip in 2009
Headline inflation is expected to drop below the current 3% inflation target in 2009 and to hit the new target of 2%, set for 2010, at the end of next year, said Miroslav Singer, a vice governor of the Czech National Bank.