Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Global events motivated Turkey's 50bp cut
The global economic slowdown expected to follow the credit crunch was behind the Turkish central bank's decision to cut its benchmark rate by 50 basis points earlier this month, minutes of the monetary policy meeting, published on Friday, reveal.
Indonesian CB called on to aid corruption fight
Bank Indonesia is being pushed to join the fight to uncover accounts holding state funds that Mohamed Suharto, Indonesia's former president, is rumoured to have stolen.
Mexico unexpectedly hikes rates to 7.5%
The Bank of Mexico decided on Friday to raise its benchmark rate by 25 basis points.
HKMA's Yam set for 2009 exit
Joseph Yam, the chief executive of the Hong Kong Monetary Authority, will step down in 2009 according to government sources.
External rigidity is behind lumpy price adjustment
External rigidity, not infrequent price changes, is the reason for large adjustment costs, research published by the Banque de France finds.
Papua New Guinea - Annual Report 2006
The Bank of Papua New Guinea almost doubled its foreign currency investments in 2006, spending Kina 4.01 billion ($1.4 billion) in comparison with Kina 2.06 billion ($720 million) the previous year.
Liquidity risk is top issue: Luxembourg's Mersch
In the wake of the recent banking crisis, the most important regulatory issue is ensuring that the liquidity risk relating to complex structured products is adequately assessed, according to Yves Mersch, the governor of the Central Bank of Luxembourg.
Crisis not yet over - Switzerland's Hildebrand
The subprime crisis that triggered the credit market turbulence is undoubtedly not yet over and further global financial market turbulence is likely to slow down the Swiss economy, said vice-president of the Swiss National Bank Philipp Hildebrand in a…
Czechs hold rates at 3.25%
The Czech National Bank decided on Thursday to keep its benchmark two-week repo rate at 3.25%.
Indonesia still vulnerable to shock
Indonesia's current economic conditions mirror those that sparked the 1997-1998 Asian financial crisis and the central bank is working to protect the country from the impact of a potentially similar scenario, Budi Mulya, a director at Bank Indonesia,…
Inflation behind first Brazil hold in two years
Fears that economic growth could lead to inflation were behind the Central Bank of Brazil's decision to hold rates for the first time since July 2005 earlier this month, minutes published on Thursday reveal.
Sharia banking not "cosmetic" - Indonesia's Siti
"We don't want the sharia units to be mere 'cosmetic lipstick' for the banks, where they say they have such Islamic-based banking businesses but the fact is the units only have an inappropriately small market share," deputy governor of the Bank Indonesia…
Old Lady could get more privacy under new rules
The Bank of England could soon be able to rescue troubled lenders in secret as a result of the recent Northern Rock crisis.
Dubai in regulatory pact with US
The Dubai Financial Services Authority (DFSA) has signed a memorandum of understanding with the United States banking supervisors. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the…
Non-bank financial firms' impact on the eurozone
The growth in the amount of deposits held by financial institutions other than banks in the euro area has led to the integration and deepening of the region's financial markets and a shift in the attitude of investors towards risk, research by the…
IMF reform needs compromise to succeed: De Rato
Rodrigo de Rato, the outgoing managing director of the International Monetary Fund, stressed that if reform efforts were to be successful, a give-and-take spirit was needed.
Netherlands Antilles - Annual Report 2006
The Netherlands Antilles economy grew by 1.5% in 2006, the same pace as in 2005.
UK business view used to judge economic impact
Kate Barker, a member of the Bank of England's monetary policy committee, will use business surveys and housing market indicators to judge whether the downside risks to the UK's inflation outlook have increased.
Chavez takes control of Venezuelan Central Bank
The Venezuelan government has regained control of the central bank following a parliamentary vote on Wednesday.
New Zealand leaves rates at 8.25%
The Reserve Bank of New Zealand decided on Thursday to hold its benchmark official cash rate at 8.25%.
New shocks may emerge, Old Lady warns
Holders of stock, commercial real estate and the US dollar could be the next victims of the banking crisis, the Bank of England predicted in the latest edition of its financial stability report.
UK funds unlikely to have helped in crisis
Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.
Czech Republic breaks free of EBRD support
The Czech Republic has become the first country to opt out of funding from the European Bank for Reconstruction and Development (EBRD), the development bank set up to invest in the central and eastern European transition economies.
Policy solutions to crime and joblessness compared
Need to lower unemployment and crime? Then, according to the Cleveland Federal Reserve, the best policy is to introduce wage subsidies.