Central Banks
Euro prices, jobs plunge, paving way for big cut
The chances of the European Central Bank's Governing Council making their biggest-ever cut next week rose on Friday after inflation plummeted to just above the central bank's target and unemployment rose.
Rate cuts not working: Riksbank's Nyberg
The impact of the Riksbank's rate cuts on the real economy has been weakened by a breakdown in the monetary transmission mechanism, Lars Nyberg, a deputy governor at the central bank, has said.
Basel Committee tackles fair-value rules
The Basel Committee on Banking Supervision has responded to the furore surrounding mark-to-market rules and published a consultative paper on fair-value practices.
Russia hikes to strengthen rouble
The Central Bank of Russia has raised its key rate by a full percentage point to a three-year high in a bid to shore up the battered rouble.
India to lend FX until July to counter stress
The Reserve Bank of India has agreed to support the overseas operations of its banks by providing three-month foreign-currency loans until next July.
Why Canada avoided the worst of the crunch
Canada avoided the worst effects of the turmoil due to conservative lending practices of the country's banks, said Pierre Duguay, a deputy governor of the Bank of Canada.
ECB evaluates banks' liquidity stress tests
European Union banks' liquidity stress testing techniques are highly diverse, finds a new report from the European Central Bank.
Euro not the key to stability: CNB's Tomsik
Adopting the euro will do little to enhance macroeconomic stability, said Vladimir Tomsik, a member of the Czech National Bank's rate-setting board.
Korea dips into Fed facility
The Bank of Korea is to tap the Federal Reserve for $4 billion as part of its $30 billion swap arrangement agreed at the end of last month.
CBK's Ndung'u flouted rules on hotel sale: report
An inquiry into the sale of a Nairobi hotel accuses Njuguna Ndung'u, the governor of the Central Bank of Kenya, of flouting procurement rules, local media has reported.
Kings of cash to get a new chief
James Hussey, a managing director at De La Rue, the world's biggest banknote printer, will take the helm at the firm in the new year.
Poland makes surprise cut on signs of slowdown
The National Bank of Poland cut rates for the first time in more than two-and-a-half years on fears that the global slowdown would hamper export demand.
BoJ minutes: board divided over size of cut
The majority of the Bank of Japan's board members agreed that the central bank was right to cut rates for the first time in seven years last month. But views differed on what the size of the rate cut should be.
Icelandic governor on the defensive
David Oddsson, the chairman of the Central Bank of Iceland, has defended the institution's role in the island's economic meltdown, saying that critics had forgotten that banking supervision was transferred out of the central bank to the new Financial…
ECB's Bini Smaghi: don't use the d-word
The term deflation is often misused as a catch-all phrase to describe every kind of negative development, said Lorenzo Bini Smaghi, a member of the European Central Bank's executive board.
History doesn't repeat itself, warns BoE's Tucker
Paul Tucker, the executive director responsible for markets at the Bank of England, has warned against spending the coming decade debating special-purpose vehicles, credit-default swaps and monolines.
Emerging markets' capital inflows
A new paper from the Bank of England examines the supply of international capital flows to emerging-market economies.
China slashes rates
China chopped more than a percentage point off its lending rate on Wednesday in a further sign of Beijing's fears the global slowdown will spark a severe slump in export demand.
Ex-Fed's Volcker to head economic recovery group
Paul Volcker, a former chairman of the Federal Reserve, will head a new committee to foster growth and financial stability.
Fed looks to boost lending by financing loans
The Federal Reserve on Tuesday looked to bolster bank lending by pledging to lend up to $200 billion against highly-rated securities backed by new consumer and business loans.
Canadian deputy resigns
Sheryl Kennedy, a deputy governor at the Bank of Canada, is to leave the central bank next week.
Norwegian oil fund hit hard by crunch
The crisis in global financial markets has led Norway's Government Pension Fund to record its largest ever quarterly loss in the three months to September.
HKMA's Yue keen on Islamic finance
There is long-term potential in Islamic finance, said Eddie Yue, a deputy executive chief of the Hong Kong Monetary Authority (HKMA).