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Bank of England sees deep recession
The Bank of England sharply adjusted its outlook for growth and inflation in the British economy, saying it was "very likely" that the UK was already in a recession that could last until 2010.
Paulson continues Tarp U-turn
Henry Paulson, the US secretary of the treasury, has signaled a further shift in the way the administration will use the $700 billion at its disposal under the Troubled Asset Relief Program (Tarp), by saying purchasing bad assets from financial…
ECB collateral to include non-euro debt
The European Central Bank (ECB) will for the first time accept European bonds denominated in dollars, sterling and yen as collateral as of 14 November, the central bank said on Wednesday.
Russia raises rates to help the rouble
Russia's central bank has hiked its key interest rate by 100 basis points to 12% in an attempt to reduce an outflow of money and curb the decline in the value of the rouble.
Sri Lanka's Cabraal on limiting terrorist funding
We need to be a step ahead and work together to counter the financing of terrorist activities, said Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka.
Thailand's Nijathaworn calls for regulatory unity
Bandid Nijathaworn, a deputy governor at the Bank of Thailand, has called for domestic and international harmonisation of financial regulation in order to avoid the harmful arbitrage associated with the current turmoil.
Central Bank of Seychelles - Annual Report 2007
The Seychellian economy grew by about 7.3% in real terms in 2007, the country's central bank notes in its latest Annual Report.
US inflation not persistent
A new paper from the Bank of Mexico finds that in the post-second world war period United States inflation has not proven persistent.
People's Bank pledges Rmb100 billion by year-end
The People's Bank of China will loan banks Rmb100 billion ($14.6 billion) by the end of December as part of Beijing's efforts to stave off a slowdown in growth.
Top economists have their say on G20 summit
A group of 21 of the world's most prominent economists have called on officials from the G20 countries meeting in Washington this weekend to start thinking outside the box about longer-term reforms.
RBI may need to cut again: former governor
Bimal Jalan, a former governor of the Reserve Bank of India, has said the institution could have to cut rates again so that banks can lower borrowing costs to a level businesses and the public can afford.
Carmaker to borrow from ECB
Volkswagen, a German carmaker, plans to tap the European Central Bank (ECB) for a €2.3 billion ($2.9 billion) loan in December.
Russia's Ignatiev signals loosening of rouble peg
The head of Russia's central bank on Monday indicated Moscow could loosen its grip on its exchange rate regime.
Global banks want greater role for FSF
An enhanced Financial Stability Forum (FSF) should regulate the most important financial institutions, the global banking industry has said.
DSK calls on G20 to bolster IMF coffers
Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), has urged G20 leaders to discuss ways to boost the Fund's resources at this weekend's summit.
Washington restructures loan to save battered AIG
The Treasury is to take a $40 billion stake in American International Group (AIG), once the biggest insurance company in the world, as part of a restructuring of the firm's $122.8 billion Federal Reserve loan.
Regulator slams calls for IMF supervisory role
A senior European regulator has launched a scathing attack on politicians' calls for the International Monetary Fund (IMF) to take a leading role in supervising the global economy.
Bloomberg sues Fed
Bloomberg, a news agency, filed a lawsuit against the Federal Reserve on Friday, alleging that the central bank had refused to disclose public information.
Spain's Ordonez - monetary policy to blame
Miguel Fernandez Ordonez, the governor of the Bank of Spain, has blamed central banks' reluctance to raise rates in the wake of the dotcom crash as the principal cause of the current crisis.
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.