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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%.
Fed acts to enforce benchmark target
The Federal Reserve has moved to correct the disparity between its federal funds target and actual rates by raising the amount of interest paid on excess reserves held at the central bank.
Bank to cut by 100 basis points?
The Bank of England will likely cut rates by a full percentage point on Thursday, some leading City of London economists believe.
BoJ head hints at bubble-bursting role for rates
Masaaki Shirakawa, the governor of the Bank of Japan, has indicated that monetary policy should act on asset-price bubbles.
Riksbank board unanimous on cut
The executive board of the Riksbank unanimously backed a lowering of the repo rate by 50 basis points to 3.75%, the minutes of the 22 October meeting reveal.
Chile's deficit under the lens
A new paper by the Central Bank of Chile describes and assesses the main causes of the institution's deficit.
Norway's Qvigstad on the benefits of transparency
Central bank transparency improves the quality of both communication and the decision-making process, said Jan Qvigstad, the deputy governor of the Norges Bank.
Bank of Canada restructures to enhance stability
The Bank of Canada on Monday reorganised its senior management structure to better safeguard stability and improve its research capability.
US banks clamp down on loan standards
American businesses are facing ever-more stringent loan conditions from most US lenders tightening standards on the back of the poor economic outlook, Federal Reserve data indicates.
RBA slashes rates to five-year low
The Reserve Bank of Australia on Tuesday shocked markets with a sharper-than-expected rate cut of 75 basis points.
SARB "distinctly dovish" in latest policy review
South African Reserve Bank on Tuesday adopted a dovish tone in its latest Monetary Policy Review, saying inflation was likely to fall sharply towards the 3%-6% target range in the new year.
Korea asks China for dollar-swap deal
The Bank of Korea on Tuesday confirmed that it had asked the People's Bank of China for a dollar-swap line after reports emerged on the proposed facility.
Inflation targets flexible and resilient
Inflation targeting has proved fairly flexible and resilient, research from the Boston Federal Reserve states.
Turkey explains October hold
The Central Bank of Turkey's rate-setting committee in October decided to keep rates on hold as the intensification of the financial turmoil called for a cautious approach, the minutes of the meeting reveal.
Policymakers added to volatility: Fed's Lacker
Shifts in expectations regarding the chances of official intervention may have made financial markets more volatile, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Family size related to wealth: St Louis Fed
Richer people tend to have more children, new research from the St Louis Federal Reserve finds.
We will need counter-cyclical rules: King
Mervyn King, the governor of the Bank of England, indicated on Monday that Britain could push ahead in implementing its own counter-cyclical capital requirements to prevent another subprime debacle.
Oil price plunge prompts Iraqi cut
The Central Bank of Iraq has cut its benchmark rate by a full percentage point to 15% days after the governor warned that the dismal global outlook and the slump in oil prices could drag the country into recession.
India acts on stability fears
The Reserve Bank of India has cut rates for the second time in a fortnight and introduced a raft of liquidity measures to shore up financial stability.
Ex-PBoC deputy questions policy after Beijing cut
Wu Xiaoling, a former deputy governor at the People's Bank of China, has said the central bank should not loosen monetary policy further after the institution cut rates and relaxed loan conditions last week.
EU says eurozone in recession
A European Central Bank (ECB) rate cut on Thursday - already a strong possibility - now looks a near certainty after the European Commission said the eurozone was likely in recession and predicted the economy would stagnate in the coming years.