Monetary Policy
ECB raises interest rates to 3.5%
European Central Bank president Jean-Claude Trichet said Thursday 7 December it was essential to act in a "firm and timely manner" to safeguard price stability in the eurozone,after the bank raised interest rates from 3.25pct to 3.5pct.
Fed's Kohn on monetary policy and uncertainty
In the speech 'Monetary policy and uncertainty' given on 1 December Donald Kohn of the Federal Reserve said policy makers should avoid relying on any single indicator because of uncertainties surrounding the accuracy of economic data and public behaviour.
ECB's Papademos on monetary policy
In the speech 'Monetary policy in a changing world: Commitment, strategy and credibility' given on 1 December Lucas Papademos of the ECB said that the ECB's policy for fighting inflation had been proven successful in the period since Europe adopted a…
Brazil cuts rates by half a point
The Central Bank of Brazil lowered its benchmark lending rate by 50 basis points to 13.25 on Wednesday in the face of falling growth.
Poland leaves interest rates unchanged
Poland's central bank held interest rates steady after a 29 November meeting, a decision that was in line with economists' expectations.
Core CPI still "uncomfortably high" - Bernanke
Fed chairman, Ben Bernanke, appeared to pour cold water on suggestions of an imminent cut in US interest rates in a speech in New York on 28 November.
Philly Fed's Plosser hints at rate rise
Casting an eye over the current economic climate in the US, the president of Philadelphia's Reserve Bank said there was some risk that policy is not yet firm enough for a return to price stability over a reasonable time horizon.
UK's Lomax: rate hike was inflation 'insurance'
Rachel Lomax, a deputy governor at the Bank of England suggested that successive interest rate hikes by the Bank this year were akin to "buying insurance" against possible inflation spikes.
Room for improvement in Riksbank's monetary policy
A parliamentary report into Sweden's monetary policy says that while the Riksbank compares favourably with other central banks in terms of monetary policy, the persistent undershooting of its inflation target in recent years means there is room for…
Canada to research inflation target
Although the Bank of Canada's inflation target will remain at 2% for the next five years, the central bank has announced a major research project on the benefits of lowering the target.
Bank of Israel cuts rates again
The Bank of Israel lowered its benchmark lending rate by 25 basis points on 27 November. This second reduction in two months takes rates to 5%.
Pakistan central bank's no-show in T-bill auction
Dealers in the Pakistani interbank market reported wild swings in short-term overnight interest rates on 27 November, triggered by the central bank's rejection of treasury market bids.
Mexico holds rates despite inflation spike
On 24 November, the Bank of Mexico held its benchmark lending rate at 7%, as expected, for a seventh straight month. The central bank also indicated that the recent increase in inflation would be temporary.
Cautious Fukui on rates outlook
Toshihiko Fukui, the governor of the Bank of Japan, said that the central bank "will proceed with gradual rate hikes" in this speech, given on 27 August.
Malaysia holds rates as inflation moderates
As expected, Malaysia's central bank kept interest rates steady at 3.5% for the fifth meeting in a row on Friday. The central bank said lower oil and commodity prices, together with moderate domestic price and wage increases, were keeping inflation in…
Canada maintains inflation target for next 5 years
The Bank of Canada renewed its inflation target of 2%, measured as the change in the core consumer price index, with a symmetrical band of 1% either side, for the next five years.
Turkish rates stable despite high inflation
The Turkish central bank announced on 23 November that it will keep its policy rate unchanged at 17.5% and the lending rate at 22.5% after its penultimate monetary policy committee meeting for 2006.
New Thai governor on IT
In a speech called "Inflation targeting - a reflection on Thailand's experience," the newly-appointed governor of the Bank of Thailand, Tarisa Watanagase, cautioned that the framework should not be seen as a panacea.
Korea raises reserve ratios
Korea's central bank will raise reserve requirements on short-term deposits by 40% next month, the governor, Lee Seong-tae, announced on Thursday.
UK's Lomax a surprise dissenter in rate decision
Rachel Lomax, a deputy governor at the Bank of England, was a surprise dissenter at the rate-setting meeting in November, minutes released on Tuesday showed.
BOJ chief sees risk assessed rate rises
The Bank of Japan will adjust interest rates gradually while ensuring its policy actions remain supportive of the domestic economy and that growth remains sustainable, BOJ governor Toshihiko Fukui said Sunday 19 November.
IMF's Rato says more rate rises may be needed
International Monetary Fund managing director Rodrigo de Rato said in an interview with Bloomberg on Friday 17 November that central banks may need to increase interest rates further to keep inflation under wraps, amid faster global economic growth.
BOJ's Fukui doesn't rule out rate rise any time
The Bank of Japan hasn't ruled out any time for raising interest rates, governor Toshihiko Fukui said Thursday 16 November.
BOT selects new MPC member
The Bank of Thailand has selected Commerce Ministry's permanent secretary, Karun Kittisataporn as a new member of its monetary policy committee, The Nation reported Thursday 16 November.