Monetary Policy
Weber on monetary policy and communication
Communication is an important element in fostering the effectiveness of monetary policy, explained Axel Weber, the president of Germany's Bundesbank.
Trichet's verdict on euro hopefuls
Speaking at a press conference after the ECB's rate rise last week, Jean-Claude Trichet, gave his assessment of countries striving to join the euro.
NZ dollar falls after central bank sales
New Zealand's dollar fell against the US dollar and yen as the Reserve Bank of New Zealand intervened to sell the kiwi.
SARB raises rates as inflation soars
The South African Reserve Bank raised the key repo interest rate by 50 basis points to 9.5% on 7 June, after inflation surged through the upper band of the central bank's 3% to 6% target range in April.
South Korea keeps key rate unchanged at 4.5%
The central bank of South Korea today decided to keep its key interest rate steady for the tenth month in succession, in an effort to boost economic recovery.
Peru's rates steady as inflation remains subdued
Peru's central bank yesterday held the overnight lending rate unchanged for the thirteenth consecutive month at its five-year high of 4.5%. Infaltion remains low and stable, despite rapid economic growth.
NZ interest rate up to record 8%
The markets were taken by surprise on 7 June when the New Zealand central bank raised its key interest rate to a record 8% from 7.75%, in efforts to stem inflation.
Indonesia cuts for twelfth time since May 2006
As widely expected, Bank Indonesia reduced its policy interest rate - used as a reference for bill sales - by a quarter point to 8.5% today, taking advantage of the lowest inflation rate in six months. It was the twelfth rate cut since May 2006.
Brazil cuts lending rate to record low of 12%
Following the recovery of the Brazilian currency, which has held inflation at an eight-year low, the central bank lowered the benchmark lending rate by half a percentage point to a record low of 12%.
Bank of England maintains bank rate at 5.5%
The Bank of England's Monetary Policy Committee (MPC) has voted to maintain the official bank rate paid on commercial bank reserves at 5.5%.
Australia keeps rate at six-year high
Glenn Stevens, Governor of the Reserve Bank of Australia, announced on 6 June that the central bank would keep its benchmark interest rate unchanged for the sixth meeting in succession. Rates remain unchanged at a six-year high of 6.25%.
Cyprus surprises with unchanged repo rate
The Central Bank of Cyprus has raised the interest rate on its marginal lending facility and on the overnight deposit facility by 25 basis points. However, the rate on the central bank's main refinancing operations (repo rate) remains unchanged at 4.5%.
ECB lifts rates to 4%
The European Central Bank has raised its key interest rates by 25 basis points to 4%, taking rates in the eurozone to their highest level for six years. This latest increase means that interest rates have doubled in 18 months.
Bernanke: US inflation slowing, but risks remain
Federal Reserve Chairman Ben Bernanke says US core inflation "seems likely to moderate gradually over time", but there are "upside" risks to this forecast.
Inflation expectations contained - Turkey's Yilmaz
Speaking at a conference celebrating the 75th anniversary of the Central Bank of the Republic of Turkey, governor Durmus Yilmaz said the central "strong reaction" to financial turmoil in 2006 "have contained inflation expectations" and that these will …
Germany's Weber: academics good central bankers
In a speech made on 29 May in Paris, Alex Weber, president of the Bundesbank, said that sending academics to politics clearly solves a problem inherent in academic policy advice: "getting the message across to do the right thing".
Fed announces FOMC's 2008 schedule
The US Federal Reserve, the American central bank, on 1 June announced the tentative schedule for next year's Federal Open Market Committee meetings.
Fed minutes reveal worries over inflation, housing
The minutes of the latest monetary policy meeting of the Federal Reserve contained few surprises, but underlined the fact that policymakers remained concerned about an "upward drift in inflation expectations".
Sweden's Rosenberg on interest rates
External price pressure and expectations of improvements in productivity were the reasons why Irma Rosenberg, a first deputy governor at Sweden's Riksbank, voted for rates to stay on hold at the monetary policy meeting at the start of the month, she said…
Governor's deciding vote sees Czech rates up
The Czech Central Bank raised interest rates by a quarter of a percentage point to 2.75% on 31 May. The central bank's board was split, with three members voting for the hike and three for leaving rates unchanged. It then fell to governor, Zdenik Tma, to…
Nishimura sees third quarter inflation rise
Kiyohiko Nishimura, a board member of the Bank of Japan, says inflation is likely to rise in October this year.
UK's Blanchflower explains voting behaviour
In a speech on 30 May David Blanchflower, member of the Bank of England's Monetary Policy Committee, said that he voted to raise rates for the first time since joining the MPC in June 2006 because he wanted to indicate to the public the Bank's intention…
Inflation breaches SARB's target
South Africa's targeted CPIX inflation has breached the South African Reserve Bank's 3% to 6% inflation target for the first time since August 2003.
Euro lending and money growth slows
The European Central Bank's current tightening cycle appears to be starting to make its mark. Mortgage lending growth in the eurozone has slowed to the lowest for more than three years.