Central Banks
ECB books €2.7 billion surplus
The European Central Bank (ECB) earned a surplus of €2.66 billion ($3.34 billion) last year on the back of the euro's appreciation against the dollar and the yen, it emerged on Thursday. The central bank also revealed that it was owed €10.3 billion by…
Bank begins £150 billion money-supply boost
The Bank of England on Thursday said it would boost the money supply by up to £150 billion ($211 billion) in a bid to revive the health of Britain's ailing economy. The Bank's Monetary Policy Committee also cut rates to a fresh all-time low of 0.5%.
India makes fresh attempt to spur growth
The Reserve Bank of India announced a fresh round of rate cuts on Wednesday aimed at restoring the health of its ailing economy.
It's his way or the highway for Bernanke
Ben Bernanke, the chairman of the Federal Reserve, will travel to his hometown of Dillon, South Carolina, over the weekend to see an interchange renamed in his honour.
ICE's CDS clearing plan gets Fed's approval
The Fed has accepted a bid by ICE Trust - an amalgam of an exchange operator, a provider of clearing services and eight banks - to run a central counterparty and clearing house for the global credit-default-swap (CDS) market.
Swiss central bank books $4 billion loss
The Swiss National Bank was Sfr4.7 billion ($4 billion) in the red for 2008, it emerged on Wednesday.
Name and shame borrowers: senator tells Fed
Bernie Sanders, a senator representing the state of Vermont, has blasted Ben Bernanke, the chairman of the Federal Reserve, for refusing to disclose the recipients of Fed funds.
UAE establishes crisis group
The Central Bank of the United Arab Emirates said on Wednesday that it would set up a group to tackle the impact of the credit crisis on the seven states.
Nigeria's Soludo: adjustment an opportunity
Charles Soludo, the governor of the Central Bank of Nigeria, has said that exchange-rate adjustment is an opportunity.
Nationalisation a possibility for one or two
Full nationalisation may prove necessary as a last resort for one or two of the larger United States banks, says a new paper from the Brookings Institution.
Buba's focus on output-growth gap significant
The Bundesbank's response in 1970s and 1980s to the output-growth gap under monetary-growth targeting was highly significant, posits a new paper from the European Central Bank.
National Bank of Belgium - Annual Report 2007
The changing environment in which the National Bank of Belgium is evolving has greatly altered its personnel needs, says the central bank in its latest Annual Report.
Japan to use currency reserves to aid economy
Japan's government unveiled plans on Tuesday to use some of the country's foreign currency reserves to help its firms.
Unconstitutional Fed aid a threat to independence
The Federal Reserve risks incurring the wrath of Congress and limiting its independence with its credit policy, Jeffrey Lacker, the president of the Richmond Federal Reserve and a voting member of the Federal Open Market Committee, has warned.
IMF staffer urges global effort to stem deflation
An International Monetary Fund (IMF) economist has called on central bankers to begin multilateral talks to stave off worldwide deflation.
Greece appoints new deputy governor
Ioannis Papadakis was sworn in as deputy governor of the Bank of Greece on Tuesday.
Iceland selects chief economist for new MPC
Reykjavik appointed Thorarinn Petursson, the Central Bank of Iceland's acting chief economist, to its newly-created Monetary Policy Committee on Tuesday.
Canada lowers again, may boost money supply
The Bank of Canada cut its benchmark rate to a record low of 0.5% on Tuesday, saying that recent data had revealed a worse-than-expected slowdown. The central bank also said that it could raise the money supply through quantitative or credit easing.
Stimulus won't work without stability: Bernanke
President Barack Obama's fiscal stimulus is unlikely to have the desired effect unless the financial system stabilises, Ben Bernanke, the chairman of the Federal Reserve, told lawmakers on Tuesday.
Turkey justifies steep cut
The Central Bank of Turkey cut rates by 150 basis points last month on signs that inflation would undershoot its 7.5% target for this year, the minutes for the 19 February meeting reveal.
Denmark names new departmental heads
The National Bank of Denmark has chosen Ove Sten Jensen and Ib Hansen as the new heads of departments for its government debt management and in its market operations wings.
Fed forced to drop tough loan rules to save AIG
The Federal Reserve has had to relax the terms of its support to American International Group (AIG) in its latest bid to save the world's largest insurer.
Morgan Stanley's Roach on central bank independence
The chairman of Morgan Stanley Asia, a bank, argues that central banks have not made the most of their new-found independence