Monetary Policy
Fed cuts to 2%
The Federal Open Market Committee (FOMC) lowered rates by a quarter point on Wednesday.
OMO changes must temper money-market woe: King
Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.
India warns on prices but keeps rates unchanged
The Reserve Bank of India held rates at its quarterly monetary policy meeting on Tuesday in spite of inflation reaching a three-year high in the weeks leading up the meeting.
Mauritius calls special meeting
The Bank of Mauritius will hold a special Monetary Policy Committee (MPC) meeting on 2 May, the central bank said on Tuesday.
Trichet remains firm on inflation
In all circumstances, but even more in times of heightened uncertainty in global financial markets, a strong commitment to price stability over the medium term is essential, said Jean-Claude Trichet, the president of the European Central Bank (ECB).
Interest rate gap too large, says France
Christine Lagarde, the French minister of finance, has issued a guarded warning to the European Central Bank (ECB) not to raise rates.
Denmark values euro's stabilising powers
The existence of the euro has been an advantage to the Danish economy during the current financial crisis, said Nils Bernstein, the governor of the National Bank of Denmark.
Reserve accumulation and price commitment
A new paper published by the International Monetary Fund finds that foreign-exchange interventions and a rapid accumulation of reserves can damage the anti-inflationary credibility of the monetary authority.
Philippines keep rates on hold
After implementing five cuts in the benchmark interest rate since July last year, the central bank of the Philippines kept interest rates unchanged at 5% on 24 April.
Russian central bank hints at broad tightening
Alexei Ulyukayev, the first deputy chairman of Russia's central bank, suggested on 22 April that monetary conditions may be tightened in the near future using a range of policy tools.
Big rate hike in Serbia
The National Bank of Serbia has raised its key policy rate to 15.25% from 14.5%. Radovan Jelasic, the governor of the central bank, said the move came in response to rising inflation, caused by growing salaries, record oil prices and political crisis.
Rustamov explains Azerbaijani rate move
An increase in interest rates from 13% to 14% on 10 April will not have a direct impact on banks' rates, according Elman Rustamov, the chairman of the National Bank of Azerbaijan.
Sentance: pound matters for monetary policy
The weakening pound is adding to the upward pressures on costs and prices from global markets, said Andrew Sentance, a member of the Bank of England's rate-setting committee, in a speech to the Confederation of British Industry.
Poland monetary policy cautious about hot money
The National Bank of Poland decided to raise the key interest rates by 25 basis points after resisting a 50 basis points rise, the minutes of the March monetary policy council meeting show.
Canada's economic outlook
The deterioration in economic and financial conditions in the United States will have direct consequences for the Canadian economy, said Mark Carney, the governor of the Bank of Canada, at a press conference following the release of April's monetary…
New Zealand softens stance
The Reserve Bank of New Zealand kept rates on hold for the eighth-straight month on Thursday but signalled it may cut in the second half of 2008.
PPI measure adds to SARB's woe
South African producer price inflation (PPI) soared by 2% in February, leaving the year-on-year measure at 11.8%, data published on Thursday showed.
Norway raises rates to 5.5%
The Bank of Norway raised rates for the first time this year on Thursday on fears that inflation was set to breach its 2.5% target.
Romanian rates high enough: governor
Mugur Isarescu, the governor of the National Bank of Romania, said on Wednesday that rates were high enough to tackle inflation.
SA inflation surpasses 10% mark
South African inflation surged to its highest level since December 2002 last month, heightening the need for the country's central bank to act against political opposition and raise rates further.
Three-way split underlines Bank's dilemma
The Bank of England's April vote saw members of the Monetary Policy Committee (MPC) backing three separate options for the first time since May 2006, minutes of the meeting published on Wednesday reveal.
Australian inflation hits seven-year high
Australian inflation soared to its highest level since June 2001, raising expectations that the country's Reserve Bank will be forced to hike rates again next month.
Trinidad's Williams: prepare for inflation wave
Trinidadian inflation is set to surpass the 10% mark in the coming months, Ewart Williams, the governor of the central bank, warned.
Canada cuts rates half a point
The Bank of Canada lowered rates to 3% on Tuesday, a move in line with market expectations.