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Kenya calls on bankers to disclose loan costs
The Central Bank of Kenya is to ask banks to provide a greater deal of clarity on borrowing costs.
G7 backs FSF recommendations
Central bank governors and finance ministers from seven of the world's leading economies have welcomed the Financial Stability Forum's (FSF) regulatory response to the credit crunch and are set to implement several of its recommendations by the end of…
Canada monitoring credit conditions
The Bank of Canada is looking at the impact of the unusually wide credit spreads, prevalent in the country's money markets since the summer, on financial stability, inflation and monetary policy, said David Longworth, a deputy governor at the central…
SA economies unaffected by turmoil
The economies of Southern Africa have remained strong despite the volatility in global financial markets, Tito Mboweni, the governor of the South African Reserve Bank, said in a recent speech.
RBI calls for better banking
Shyamala Gopinath, a deputy governor at the Reserve Bank of India, called on banks to improve their standards of customer service.
No need to change disclosure rules
Disclosure practices may be enhanced without amending existing rules, a survey conducted by leading global regulators has found.
Peru unexpectedly raises rates
The Central Bank of Peru surprised markets on Thursday by backing a 25 basis-point hike and raising the reserve requirement for foreign and domestic currency holdings.
Prague backs CNB on move to halt koruna's rise
The Czech government will divert its foreign exchange income from currency markets, on the advice of the country's central bank, which is keen to temper the appreciation of the koruna.
Iceland raises rates again
The Central Bank of Iceland hiked rates by half a point on Thursday. The move follows an emergency 125 basis point rise a fortnight ago.
Crisis "nothing like" Great Depression: Bernanke
Ben Bernanke, the chairman of the Federal Reserve and a scholar on the Great Depression, has rebuked suggestions that the current financial climate is similar to that of the 1930s.
SA's Mboweni braves political pressure, hikes rate
Tito Mboweni, the governor of the South African Reserve Bank, reaffirmed his commitment to the central bank's inflation target on Thursday, raising rates by half a point to 11.5% in the face of intense political pressure.
British banks want to borrow more
UK banks have asked for a sharp increase in their borrowing facilities at the Bank of England, the Financial Times has reported.
Trichet indicates rates to remain at 4%
Jean-Claude Trichet, the president of the European Central Bank (ECB), signalled that the Governing Council will leave rates unchanged for the foreseeable future despite mounting evidence that the credit crunch could severely impact the real economy.
Old Lady lowers rates to 5%
The Bank of England's Monetary Policy Committee (MPC) cut rates by a quarter point to 5% on Thursday.
Indonesian governor detained
Burhanuddin Abdullah, the governor of Bank Indonesia, has been detained at police headquarters by the country's anti-corruption agency, Komisi Pemberantasan Korupsi (KPK), a day after parliament approved economics minister Boediono as the next central…
Crisis worst shock since Great Depression: IMF
The International Monetary Fund (IMF) warned that the US subprime fallout has precipitated the largest financial crisis since the Great Depression and that there is a 25% chance that it will cause a full-blown global recession.
Payments industry lacks competition
If we want to speed up the development in payment services, we need to increase competition in the market, said Erkki Liikanen, the governor of the Bank of Finland.
Bank of Japan's economic outlook
Japanese economic growth is slowing mainly due to high energy and materials prices, the Bank of Japan's latest monthly economic report states.
Bollard advocates New Zealand's economic strength
Banks should avoid overreacting to the economic downturn as the New Zealand economy remains fundamentally sound and creditworthy, said Alan Bollard, the governor of the Reserve Bank of New Zealand.
Financial literacy crucial - Bernanke
US states should consider making personal finance a requirement for all students who seek a high-school diploma, said Ben Bernanke, the chairman of the Federal Reserve.
Where New-Keynesian models fall short
New-Keynesian monetary models' assumptions do not fully reflect the complexity of price behaviour, a paper published by the National Bank of Belgium states.
Housing bequests hamper monetary policy in Cyprus
Social customs in the Cypriot housing market interfere with monetary transmission mechanisms, a paper by the Central Bank of Cyprus finds.
Fed's Yellen sees economic up-tick
Monetary easing and fiscal stimulus will boost US growth in the coming quarters, said Janet Yellen, the president of the San Francisco Fed.
ECB's Bini Smaghi: sharp easing a dangerous game
Excessive rate reduction can weaken prices of domestic assets, potentially destabilising markets, said Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank.