Central Banks
Mistakes made on liquidity - Tumpel-Gugerell
The current crisis shows central bankers and regulators underestimated liquidity risk, admitted the European Central Bank's Gertrude Tumpel-Gugerell.
PBoC cuts to restore confidence
The People's Bank of China (PBoC) has cut its base lending rate and lowered the ratio of funds that banks must set aside as reserves in an effort to shore up confidence in the country's stock and real estate markets.
Interdependence requires payment overhaul
Central banks need to adjust their oversight of payment and settlement systems to the new reality of heightened interdependence in financial markets, said Haruyuki Toyama, a deputy director general at the Bank of Japan at SIBOS, an industry forum…
China fund involved in Lehman bid - report
China Investment Corporation (CIC), Beijing's sovereign wealth fund, is said to be involved in a possible bid for Lehman Brothers, a beleaguered US bank.
We saw crunch looming, says Canada's Dodge
David Dodge, a former governor of the Bank of Canada, has said that central bankers knew that "ridiculous" mortgage-backed securities would precipitate a credit crunch.
BoE's Tucker highlights inflation risk
The news on the British economy has got worse and inflation now looks more likely to fall sharply in 2009, but Paul Tucker, the executive director responsible for markets at the Bank of England, signalled Friday that the Monetary Policy Committee (MPC)…
China using reserves for political gain - report
China's State Administration of Foreign Exchange appears to have used its reserve stockpile, the largest in the world, to influence diplomatic relations between Costa Rica and Taiwan.
Peru hikes for 4th-straight month, hints more to c
The Central Bank of Peru on Thursday raised its key rate for the seventh time in 12 months, warning that it would continue to use policy to tame inflation that is now more than triple the central bank's target.
Does the ECB follow the Fed?
New research from Deutsche Bank looks at how closely the European Central Bank's (ECB) monetary policy follows that of the Federal Reserve.
Zimbabwe permits shops to deal in foreign money
The Reserve Bank of Zimbabwe on Thursday authorised a small number of the country's businesses to sell goods for foreign currency.
King confirms continued support for banks
Mervyn King, the governor of the Bank of England, assured the City of London's beleaguered banks that he would continue to allow them access to funds after the Special Liquidity Scheme closes next month.
New Zealand cuts by half a point
The Reserve Bank of New Zealand on Thursday cut rates by half a point for the first time in almost seven years on evidence the country's economy was now in recession.
Congress to hold hearing to "stay on top" of SWFs
A US Congressman has called a hearing to examine the impact of sovereign wealth funds' purchases of stakes in some of Wall Street's finest.
Brazil hikes but hints tightening may moderate
The Central Bank of Brazil raised its key rate by 75 basis points for the second-straight vote on Wednesday, but looks likely to back smaller hikes in the coming months.
Stability role necessitates new policy instruments
Central bankers should be given an additional policy instrument if they are asked to ensure financial stability, said Hans Genberg, the executive director responsible for research at the Hong Kong Monetary Authority.
Come together, says ECB's Gonzalez-Paramo
Jose Manuel Gonzalez-Paramo, a member of the ECB's executive board, on Tuesday urged central banks to collaborate more closely in providing liquidity and stability to global financial markets.
Central banks must abandon finance sector: Rogoff
Kenneth Rogoff, a former chief economist at the International Monetary Fund, has urged central banks to stop supporting their beleaguered finance industries.
China inflation slumps for fourth-straight month
Chinese annual inflation plummeted by almost one-and-a-half percentage points last month to 4.9%.
BoE deputy's outlook gloomy for UK economy
Sir John Gieve, a deputy governor at the Bank of England, has warned that growth will slow and inflation surge in the coming months.
Core inflation a better signal of price trends
The relationship between headline and core inflation has changed significantly over time, research published by the Federal Reserve finds.
Philadelphia Fed offers virtual help to homeowners
The Philadelphia Federal Reserve has launched an online resource centre in a bid to help prevent foreclosures and lessen their negative influence on neighbourhoods.
Multilateral agencies begin Georgia mission
Officials from multilateral agencies landed in Georgia on Monday to begin a 13-day needs-assessment mission.
Academics urge ECB to enhance communications
The European Central Bank's (ECB) communications practices are hampering the institution's inflation-fighting credentials, academics have argued.
Ghana still going for goal
Lionel Van Lare Dosoo, a deputy governor at the Bank of Ghana, tells Central Bank News why the institution's Olympian efforts to eradicate the country's inflation problem will stay on track despite recent events.