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EMU has led to increased stability and convergence
Monetary union has led to increased stability and convergence of financial markets in euro area, a new paper from the CEPR finds.
FSA pronounces on Northern Rock
The Financial Services Authority, the UK's financial watchdog, made an announcement today about Northern Rock.
Rates tumble in Venezuela
Overnight lending rates in Venezuela fell sharply last Thursday, after the country's central bank resumed injecting cash into the financial system, a week after it had suspended the practice.
Bank of Korea admits to monetary policy problems
Lee Seong-tae, governor of Bank of Korea, said the central bank has problems in carrying out monetary policy effectively because of cross-border capital transactions that lead to increases in the money supply in spite of rises in key interest rates.
EU central bankers decide against bail-out rules
Finance ministers and central bankers from the European Union decided at a weekend meeting in Portugal not to draw up fixed rules in advance on bailing out banks and other financial institutions with cross-border operations in the EU.
Fed looks set to lower interest rates
Ben Bernanke, the US Fed chairman, and his central bank colleagues meet on Tuesday to make their next decision on interest rates, and appear set to lower the 5.25% federal funds rate to prevent a housing collapse and credit crunch from forcing the US…
The Maestro defines a bubble
At last we know what a bubble is. Alan Greenspan, who never used the dreaded word while in office to refer to market conditions, always insisted on talking about "froth" in markets.
Overnight UK rates jump
On Monday, overnight sterling lending rates briefly hit levels not seen in over six years,reported Reuters, as the deepening crisis surrounding Northern Rock sparked a scramble among banks for immediate access to cash.
Bank funding for buyer of Northern Rock?
The Bank of England's emergency facility to Northern Rock will still be available to any buyer of the ailing bank, it was confirmed today.
Bank of England bails out Northern Rock
The governor of the Bank of England, Mervyn King, is coming under increasing criticism over his handling of the crisis.
South African Reserve Bank - Annual Report 2006/07
Tito Mboweni, the governor of the South African Reserve Bank, noted the importance of transparency in his foreword to the central bank's latest annual report.
Norwegian deputy predicts lower bank profits
Jarle Bergo, the deputy governor of the Central Bank of Norway, said on Thursday that conditions in the property and money markets were likely to drive down commercial banks' profit margins.
King and Reddy to speak on India
Mervyn King, the governor of the Bank of England, and Y.V. Reddy, the governor of the Reserve Bank of India, will discuss the future of the Indian economy in an event at the London School of Economics on 15 October.
China raises rates again
The People's Bank of China decided on Friday to raise rates for the fifth time since March in order to curb rising inflation.
Chile raises rate
The Central Bank of Chile decided on Thursday to raise its interest rate by 25 basis points to 5.75%.
Turkey makes surprise rate cut
The Central Bank of the Republic of Turkey unexpectedly decided to lower interest rates by 25 basis points on Thursday.
Canada's Dodge repeats calls for transparency
David Dodge, the governor of the Bank of Canada, underlined his argument that a lack of transparency was behind the recent turmoil on Friday.
Bank of England moves to aid mortgage lender
The Bank of England said on Friday that it would provide a liquidity support facility for Northern Rock, a UK mortgage lender.
Launch the lifeboats? Not likely!
The closest parallel to the rescue of Northern Rock is the secondary banking crisis which erupted at the end of 1973 and which brought down a whole string of so-called "secondary" banks. That financial crisis, like this one, was preceded by a long period…
India's Reddy discusses monetary policy
Y.V. Reddy, the governor of the Reserve Bank of India, said that the central bank's monetary policy would alter if turmoil in the financial markets threatened the country's economic stability.
National Bank of Georgia - Annual Report 2006
The Georgian economy grew by 9.4% in 2006. But end-of-year inflation was well above the 6% upper boundary of the target range at 8.8%.
Links between ownership, market structure and risk
The relationship in developing countries between banks' risk of failure, market structure, their ownership, and screening and bankruptcy costs is investigated in an International Monetary Fund paper published on Wednesday.
SA reveals rate hikes are paying off
The South African Reserve Bank's monetary policy appears to be working as inflationary pressures dampened in the quarter to September.
SNB adjusts three-month inter-bank target
The Swiss National Bank said on Thursday that it was increasing its three-month Libor (London inter-bank offered rate) by 25 basis points to 2.75% in an effort to calm the Swiss franc money market.