Central Banks
Iceland dismisses IMF advice and cuts
The Central Bank of Iceland's rate-setting board cut its key rate by a percentage point on Thursday despite the International Monetary Fund (IMF) last week supporting a "firm" monetary stance.
ECB's Trichet: prepare for rebalancing world
The world has to prepare for a very profound structural rebalancing of world output during the next years, said Jean-Claude Trichet, the president of the European Central Bank.
No to EU, yes to supervision role for BoE
The idea of a greater role for European Union regulation of United Kingdom's financial services must be resisted, said Sir Martin Jacomb, a former external director of the Bank of England, in a new report from the Centre for Policy Studies, a think tank.
Latvia under intensified devaluation pressure
The Bank of Latvia on Thursday issued a strongly-worded statement defending the lats after the Baltic state's currency crisis intensified on Wednesday following a failed government auction.
New Nigerian governor criticises Soludo
Lamido Sanusi, confirmed as the new governor of the Central Bank of Nigeria on Wednesday, said he disagreed with his predecessor's plans to re-denominate the naira made back in 2007.
Bernanke announces Fed communication enhancements
In a bid to ease lawmakers' concerns over transparency, Ben Bernanke, the chairman of the Federal Reserve, has said that the central bank will publish several new reports on its lending.
Latvia PM dismisses devaluation advice
Latvia's prime minister has parried claims by a former governor of the Riksbank that the lats will need to be devalued in the near future.
Bank losses not as bad as 1990s, says Riksbank
The Riksbank has predicted a sharp, but manageable, rise in Swedish banks' loan losses, largely on the back of defaults by businesses in the Nordic region and the Baltic States.
Germany's Merkel attacks central banks
Angela Merkel, the chancellor of Germany, on Tuesday criticised the unconventional measures taken by central banks around the globe and called on them to revert to sane and independent monetary policy.
RBA's Debelle: leaning against the wind useless
There is not much to be achieved by leaning against the wind, said Guy Debelle, the assistant governor for financial markets at the Reserve Bank of Australia.
Fed's governance structure should be revisited
The conventional model of central bank independence may need to be revisited given the unprecedented expansion of the Federal Reserve's balance sheet, new research from the International Monetary Fund notes.
Czech National Bank - Annual Report 2008
The Czech banking sector was not hit directly by the global financial crisis, says Zdenek Tuma, the governor of the country's central bank, in the latest Annual Report.
Awkward handover for Nigerian governor
The Nigerian central bank faces considerable uncertainty over the immediate future of the position of its governor.
RBA hints at further easing
While it kept rates on hold for the time being, the Reserve Bank of Australia has dropped a strong hint that further rate cuts are on the way by suggesting that "scope remains for some further easing."
Plosser joins district criticism of Fed
Charles Plosser, the president of the Reserve Bank of Philadelphia, added his voice to a growing chorus of discontent from regional banks over the policies of the Washington-based Federal Reserve Board.
Mboweni questions rand's rise
The governor of the South African Reserve Bank, Tito Mboweni, said the recent strength of rand against the dollar may be "unwelcome" as it pushes up the cost of the country's exports.
Macroprudential supervision for BoE - lawmakers
The Bank of England should be given responsibility for macroprudential supervision, recommends a report from Britain's House of Lords Economic Affairs Committee.
Finland's Hakkarainen: retail payments not core
Central banks should not provide retail-payment services themselves, said Pentti Hakkarainen, the deputy governor of the Bank of Finland.
Greece's Provopoulos: EU supervision overhaul hist
The European Commission's planned overhaul of the European Union's financial architecture is a historic step forward, said George Provopoulos, the governor of the Bank of Greece.
The Nederlands Bank - Annual Report 2008
In the years ahead, banks will reduce their dependence on short-term funding in the wholesale markets and focus more on serving domestic customers, says Nout Wellink, the president of the Dutch central bank in its latest Annual Report.
India's Subbarao: in crisis better to over-insure
It is safer, in crisis management, to err on the side doing too much rather than doing too little, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Barbados's Williams: FSB to look at corporates
It is important to clarify whether the Financial Stability Board's mandate extends beyond banks to the wider corporate world, said Marion Williams, the governor of the Central Bank of Barbados.
Markets discipline governments
Markets are exerting pressure on governments to improve the state of public finances and restore competitiveness, a new paper from the International Monetary Fund reveals.
Turkey explains another cut
The Central Bank of Turkey cut rates by 50 basis points in May as data offered no signs of recovery in economic activity of employment, the minutes for the 14 May meeting reveal.