Central Banks
RBA's Stevens praises British bailout
The British government's intervention plan appears to have all the key elements needed to restore health to the key international institutions, Glenn Stevens, the governor of the Reserve Bank of Australia.
Canada cuts rates further
Canada's central bank cut its key interest rate by a quarter-point on Tuesday, saying the country's economy needs the stimulus to ward off the effects of a recession in the United States.
RBI strikes day after rate cut
An employee strike at the Reserve Bank of India shut down trading on the Mumbai bond exchange on Tuesday.
India cuts rates by 1%
The Reserve Bank of India slashed its key short-term lending rate by a full percentage point on Monday. It was the central bank's first reduction in rates since March 2004.
Price-level targeting brings gains
Adopting an optimal price-level target instead of an optimal inflation-targeting regime can bring additional welfare gains, a new paper from the Bank of Canada finds.
Czech banknote wins prize
The International Association of Currency Affairs, an industry body, has announced that the Czech National Bank (CNB) was the runner-up in its Banknote of the Year award for the 1000-krone banknote, issued in April this year.
Flight from Fannie, Freddie may cloud US outlook
Official institutions' flight from US agency debt could hamper the effectiveness of Fannie Mae's and Freddie Mac's role in repairing the US mortgage market.
Singapore, Malaysia guarantee all deposits
Singapore and Malaysia became the latest countries to issue blanket guarantees on all deposits on Thursday.
Qatar takes stake in Credit Suisse
The Qatar Investment Authority, a sovereign wealth fund, has bought a stake in Credit Suisse, Switzerland's second-largest bank.
Bank appoints new financial stability director
The Bank of England has promoted Andrew Haldane, the head of its systemic risk assessment division, to executive director for financial stability.
Ex-Fed's Poole: Treasury coercion may hinder plan
The US Treasury's decision to force some banks to participate in its plan to recapitalise America's banks could prove its undoing, warned Bill Poole, a former president of the St Louis Federal Reserve.
A credit risk model for all
Research from the Czech National Bank and the Bundesbank provides a template to investigate the credit risk environment of any economy.
Swiss step in to save biggest bank
The Swiss National Bank on Thursday agreed to buy up to $54 billion in troubled assets from UBS, after the country's government moved to re-capitalise the beleaguered bank.
Bank reforms money market operations
The Bank of England set out plans for three major reforms of its money market operations, including proposals for two new facilities aimed at alleviating the tensions that have kept prices for interbank loans well above historical norms.
ECB to loan Hungary up to €5 billion
The European Central Bank (ECB) on Thursday granted the National Bank of Hungary a €5 billion ($6.8 billion) credit line following sharp declines in the forint and local stocks the day before.
Tokyo finally nominates deputy
The Japanese government has nominated Hirohide Yamaguchi for the role of deputy governor at the central bank, a position left vacant since March.
OTC derivatives central counterparty issue urgent
The Financial Stability Forum, a collection of central bankers and financial regulators, has urged market participants to swiftly establish a central counterparty for over-the-counter (OTC) credit derivatives, in its follow-up report on enhancing market…
Trichet: joint action sets precedent
Monday's decision to provide broad access to liquidity and unlimited dollar funding marked a "world premiere" in exceptionally-confident cooperation between central banks, Jean-Claude Trichet, the president of the European Central Bank (ECB), has noted.
SF Fed's Yellen: US in recession
The US economy appears to be in recession as every major part of the economy has been hit by the financial shock, said Janet Yellen, the president of the San Francisco Federal Reserve.
MPC's Sentance: downturn risks on the rise
Severe stresses in the financial system and the news from the real economy have certainly increased the risks of a bigger and more sustained downturn, said Andrew Sentance, a member of the Bank of England's Monetary Policy Committee.
ECB makes bold attempt to break credit logjam
The European Central Bank's (ECB) latest action to unblock money markets, announced Wednesday, looks likely to succeed, economists say.
Iceland slashes rates as economy faces meltdown
The Central Bank of Iceland has cut its key rate by 350 basis points on the back of the meltdown in the country's banking sector.
India pledges more liquidity
The Reserve Bank of India on Wednesday took further steps to shore up liquidity, judging that the global turmoil warranted action.