Central Banks

Riksbank hikes rates, policy stance to neutral

The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.

Macedonia seeks bigger share of Yugoslav gold

Governor of the Central Bank of Macedonia Ljube Trpeski said that Macedonia and Bosnia-Herzegovina will request the Bank for International Settlements in Basel to change the formula for sharing of foreign currency reserves in gold of the former National…

Summers welcomes IMF aid for Turkey

The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.

Problem with BOE inflation forecast, says Fed Kohn

The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.

OECD calls for 'greater clarity' from BOJ

While the future looks more positive for Japan, significant reforms including greater transparency from the Bank of Japan still need to be made, the Organisation for Economic Development and Cooperation said Wednesday in its annual economic survey of…

Singapore announces changes in currency policy

The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…

Bulgarian premier urges banks to lend more

Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…

RBNZ Brash cut transparency to save credibility

Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…

Greenspan talk lifts markets - John Berry

Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…

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