Monetary Policy
Czechs hike rates to 3.5%
The Czech National Bank's rate-setting board voted on Thursday to hike rates by 25 basis points to 3.5% after inflation rose to a six-year high in October.
FOMC members disagree on risks to growth
Stock markets around the world rose sharply on Wednesday after Donald Kohn, the vice chairman of the Federal Reserve, suggested that the Federal Open Market Committee (FOMC) would cut rates in December. Kohn's comments differ sharply from those made by…
South African inflation rampant despite rate hikes
Two 50 basis point rate hikes have failed to dampen rising inflation in South Africa, new statistics showed on Wednesday.
Poland hikes rates to combat inflation
The National Bank of Poland's rate-setting board voted on Wednesday to raise the benchmark reference rate by 25 basis points to 5% after inflation rose above the central bank's target in October.
Uncertainty clouds outlook for rates in Norway
Svein Gjedrem, the governor of the Bank of Norway, said on Wednesday that the central bank's interest rate decisions may diverge from the forecasted rate path because of the heightened uncertainty caused by the global financial turmoil.
Transition economies set for inflation dilemma
Central and Eastern European economies may have to face steep sacrifice ratios in order to keep inflation within the target range for euro accession, says Kryzsztof Rybiski, the deputy president of the National Bank of Poland.
Mexico holds rates at 7.5%
The Bank of Mexico's rate-setting board voted on Friday to hold its benchmark rate at 7.5%.
Hungary holds rates on inflation fears
The National Bank of Hungary's rate-setting board voted on Monday to hold rates at 7.5% after the central bank's inflation report revealed inflation would decline more slowly than anticipated.
Israel holds rates at 4%
The Bank of Israel's rate-setting board voted on Monday to keep rates at 4% for the third consecutive month.
Saudi Arabia - Annual Report 2006/07
Real GDP rose by 4.3% over the course of the 2006/07 financial year.
Turkey to "monitor closely" second-round hikes
The minutes of the Central Bank of Turkey's November rate-setting meeting have revealed that the potential second round effects of rising food and energy prices will be closely monitored.
Poor data raises chances of UK rate cut
Worse-than-expected growth and woeful housing statistics have increased the likelihood that the Bank of England will move to cut rates next month.
Hakkarainen new deputy at Bank of Finland
Pentti Hakkarainen, a member of the board at the Bank of Finland, is set to succeed Matti Louekoski as deputy governor in January 2008.
Globalisation gives greater role to communication
The globalisation of financial markets has made central bank communication more important than ever, says Mario Draghi, the governor of the Bank of Italy.
Markets certain on rate cut despite Fed's stance
In spite of repeated claims by Federal Open Market Committee (FOMC) members that the risks between inflation and growth are now balanced, interest rate futures traders believed on Wednesday that a December cut is more likely than ever.
Japan's Nakamura expects further US housing woe
Seiji Nakamura, a member of the Bank of Japan's rate-setting board, has said that the chances of economic slowdown in the United States are rising as the subprime market slumps further.
Lomax on current monetary policy issues
Rachel Lomax, the deputy governor responsible for monetary policy at the Bank of England, delivered the following speech on Thursday night:
The drawbacks of disinflation policies
Economies enter persistent recessions and inflation heads above the long-run level in the immediate aftermath of a disinflation policy, research published by Banque de France finds.
UK's Gieve surprises with rate cut vote
Sir John Gieve, the deputy governor at the Bank of England responsible for financial stability, was one of two dissenters who voted for a rate cut at the monetary policy committee's November meeting, minutes published on Wednesday reveal.
What we learn from the Fed's projections
As we look at the first of the Federal Reserve's enhanced economic projections, it is important to understand what they are and what they are not, says Stephen Cecchetti, the Rosenberg Professor of Global Finance at Brandeis International Business School.
The trip to transparency
The Fed's decision to increase the frequency and volume of its economic projections is another welcome step towards transparency under Ben Bernanke's stewardship. But it still has a way to go before catching up to the other major central banks, says…
Subprime limited Japanese monetary expansion
The Bank of Japan could have hiked rates if the United States subprime market had not crashed, said Yasuhisa Shiozaki, the chief cabinet secretary under Shinzo Abe, the former prime minister who resigned in September.
Taylor inertia conundrum solved?
Inertia in the Taylor rules on interest rates could be down to inertia in the economy itself, argues research published by the Centre for Economic Policy Research.
Fed releases first revamped economic projections
The Federal Reserve on Tuesday published the first of its revised economic forecasts as part of the minutes of the 31 October rate-setting meeting.