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Great Depression was different - St Louis Fed
Policymakers must remember that circumstances very different to those that led to the Great Depression had triggered the current crisis, research from the St Louis Federal Reserve states.
Israel's Banking System - Annual Survey 2007
In 2007, the net income of Israel's five major banking groups rose, despite losses on asset-backed securities, and capital-adequacy ratios reached a record-high of 11% by the end of the year, the Bank of Israel's annual survey of its domestic banking…
ECB's Bini Smaghi: Europe must liberalise
Lorenzo Bini Smaghi, a member of the European Central Bank's executive board, has claimed that rigid European labour and product markets hamper the ability of economic policies to foster growth.
Focus of monetary policy research often misplaced
The focus on determinacy in recent monetary policy research is misplaced, Bennett McCallum, an economics professor at Carnegie Mellon University, argues.
Productivity slump triggered subprime woe
The downturn in the US housing sector was triggered by a productivity slowdown that begun in 2004, finds a new paper from the New York Federal Reserve.
Real and financial sector linked - Fed's Warsh
The US economy will recover sooner than expected if banks are willing to find new ways of lending, said Kevin Warsh, a governor at the Federal Reserve.
Korea cuts for second time in a fortnight
Bank of Korea chopped a quarter-point off its key rate on Friday on signs of a further weakening in domestic economic activity.
RBNZ to operate TAF to avert liquidity crunch
The Reserve Bank of New Zealand on Friday said it will follow the Federal Reserve's lead in establishing a Term Auction Facility (TAF) operation to enhance liquidity.
Zimbabwe returns charity donations
The Reserve Bank of Zimbabwe on Friday repaid $7.3m to a charity after it was found to have confiscated donations pledged to fight killer diseases.
SNB and Poland arrange currency swap
The Swiss National Bank and the National Bank of Poland on Friday agreed a currency swap facility to compensate for a lack of Swiss franc liquidity.
Eurozone banks clamp down on gloomy outlook
Eurozone banks are applying ever more-stringent conditions on the region's borrowers on fears of a worsening of economic activity.
Integration and openness vital: Italy's Draghi
Confronting the challenges posed by the current crisis requires greater integration and market openness, said Mario Draghi, the governor of the Bank of Italy.
Philippine's Tetangco - links with US decisive
The macroeconomic impact of the current turmoil on Philippine's economy will depend on trade links with the United States, remittances and investments, said Amando Tetangco, the governor of the Central Bank of Philippines.
Bank of Finland: Corruption bad for growth
Countries with low levels of corruption tend to have higher output, states an article from the Bank of Finland.
Bundesbank on the causes of home bias
Research from the Bundesbank studies why the tendency to hold domestic paper prevails despite the rise in cross-country capital flows over the last two decades.
BoJ minutes: growth sluggish
Japan's economic growth has been sluggish, reflecting earlier rises in energy and materials prices and weaker exports, say the minutes of the Bank of Japan's Monetary Policy Council meeting on 6 and 7 October.
ECB, SNB cut by 50 basis points
The European Central Bank (ECB) on Thursday lopped a quarter point off its key rate and indicated further cuts were likely. The Swiss National Bank (SNB) also cut the upper and lower bounds by the same margin.
Czechs surprise with 75 basis-point cut
The Czech National Bank slashed its key rate by 75 basis points to 2.75% on Thursday on signs inflation risked falling below target next year.
Markets obey laws of nature not math: NBB's Praet
The "once in a century" credit crisis demands a fundamental re-think in the way we view, and regulate, financial systems, Peter Praet, an executive director at the National Bank of Belgium and a member of the Basel Committee on Banking Supervision, has…
Bank shocks with steepest cut for 24 years
The Bank of England on Thursday lopped one-and-a-half basis points off its benchmark rate for the first time since August 1984, confounding expectations of a far less severe move.
IMF sees advanced economies contracting in 2009
The International Monetary Fund (IMF) on Thursday revised downwards its estimate for global growth next year by four-fifths of a percentage point to 2.2% and said it believes the advanced economies will contract over 2009.
Obama win promises to lift some of the gloom
Barack Obama's clear victory in the US presidential election opens a new chapter in America's history. The positive impact of this powerful signal of change on the economy and on central banking should not be underestimated, says Marco Annunziata, the…
NY Fed hires Bear Stearns' risk-management head
The chief risk officer at Bear Stearns, the now-defunct investment bank, has joined the New York Federal Reserve to advise on bank supervision.
Dollar Libor spreads plummet to pre-Lehman levels
Money-market tensions showed further signs of easing on Wednesday, with the London Interbank Offered Rate (Libor) for three-month dollar loans plunging 20 basis points to 2.51%.