Financial Stability
Japan’s normalisation strategy in jeopardy
Hisashi Harui suggests that the Bank of Japan is still unable to get its message across clearly to the markets
The numbers game
New legislation will have a profound impact on the compilation of official statistics in Britain. Jill Leyland considers the possible impact on the Bank of England
Hong Kong and Malaysia look to reduce risk
The Hong Kong Monetary Authority and Bank Negara Malaysia looked to eliminate the settlement risk of US dollar bonds issued and traded in Malaysia with the launch of a payment link on Monday.
Chile's Corbo highlights main risks
Three phenomena threaten economic stability in Chile, according to Vittorio Corbo, the governor of the central bank.
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,…
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…
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.
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 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.
Scale of subprime unknowable until 2008: Weber
Axel Weber, the president of the Bundesbank, said on Tuesday that the extent of the subprime crisis will remain unknown until at least the end of 2007.
Gono set to put shopping "anarchy" right
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, said that the central bank would soon correct the "anarchy" that erupted after the government ordered retailers to cut prices in June.
Bank of England reports on the crisis
The Bank of England has acknowledged that the recent banking crisis has revealed that the UK's financial authorities need to strengthen their crisis management arrangements.
Fed signals support for superfund
A Federal Reserve official has said that the proposed $75 billion mortgage-securities superfund will help investors and credit markets.
Kenyan central bank set to monitor telecoms IPO
The Kenyan government has handed the Central Bank of Kenya the task of ensuring that the initial public offering (IPO) of Safaricom, the country's leading mobile phone firm, does not adversely impact the financial system.
De Rato's final speech presents gloomy outlook
Rodrigo de Rato, the outgoing managing director of the International Monetary Fund, said on Monday that the recent banking crisis has exposed weaknesses and will hamper growth in the coming years.
EMU leads to bond-market convergence
Economic and monetary union in Europe has led to substantial convergence in euro-area sovereign bond markets, according to research published by the San Francisco Federal Reserve.
Greenback now worth a million Zimbabwean dollars
A single US dollar is now said to be worth 1 million of its Zimbabwean counterparts on the black market.
Northern Rock's BoE debt rises to £16 billion
Northern Rock has borrowed a further £3 billion ($6.1 billion) from the Bank of England this week, the Bank's balance sheet reveals.
Japan will weather banking crisis, says Mizuno
There is little chance of the recent banking crisis adversely affecting the Japanese economy according to Atsushi Mizuno, the most hawkish member of the central bank's current rate-setting board.
Russian central bank supports bond market
Sergey Ignatiev, the governor of the Central Bank of Russia, has said the central bank bought R46 billion-worth ($1.84 billion) of federal government bonds in September to ease tension in the banking sector.
Central Bank News defends "boring central bankers"
The Financial Times on Wednesday published Central Bank News's response Wolfgang Munchau's piece in Monday's newspaper, "Boring central bankers got us into this mess", which blamed central bankers for the current credit crisis.
Too early to call crisis impact: Ireland's Hurley
John Hurley, the governor of the Central Bank and Financial Services Authority of Ireland, reviewed the impact of the recent banking crisis on the eurozone.
Competition found to impact bank risk
Banking stability may be undermined by competition, according to research published today by the San Francisco Fed.