Central Banks
Canadian banks match central bank cut
Canada's biggest banks have lowered lending rates by 25 basis points in spite of speculation before Tuesday's rate cut that they would fail to follow a central bank move.
Deputy confident Russia will withstand turmoil
The Russian finance industry will escape largely unscathed from the credit crunch, though lending conditions may get tighter, said Gennady Melikyan, a first deputy chairman at the Central Bank of Russia.
Banks must be scolded, not helped, by the Fed
Monetary and regulatory policy should be about reinforcing solid conduct in financial markets and punishing bad behaviour. But the recent rate cut from the Fed does little of the sort, says Avinash Persaud, the chairman of Intelligence Capital, a…
UK MPC voted 8 - 1 in favour of rate hold
David Blanchflower was the only member of the nine-strong Bank of England Monetary Policy Committee to object to the decision earlier this month to hold rates at 5.5%, opting instead for a 25 basis point cut.
Fed slashes rates by 75 basis points
The Federal Open Market Committee (FOMC) on Tuesday lowered rates by 75 basis points to 3.5%, the biggest cut since autumn 1984.
Canada cuts rates by 25 basis points to 4%
The Bank of Canada's rate-setting board opted on Tuesday to lower its benchmark overnight rate by 25 basis points to 4%.
Crunch prompts Serbia to review reserves strategy
The National Bank of Serbia has shifted to a more conservative reserves policy in the wake of the credit crunch, Radovan Jelasic, the governor of the central bank said on Friday.
Chinese economist to get senior role at World Bank
In a move set to strengthen ties between the big emerging economies and the Bretton Woods institutions, the World Bank is to appoint Justin Lin, a Chinese economist, as its chief economist.
Japan keeps rates at 0.5%
The Bank of Japan's rate-setting board opted on Tuesday to hold rates at 0.5%.
No more law talk - Israel's Fischer
No more time should be wasted talking about the new Bank of Israel law, said Stanley Fischer, the governor of the central bank.
ECB must take into account openness of eurozone
Empirical evidence published by the Centre for Economic Policy Research contradicts the assumption that the euro-area works as a closed economy, which is used by the European Central Bank (ECB) to model optimal monetary policy.
SNB's Jordan on uncertainty
Monetary policy decision-makers must be aware of uncertainty and the limitations of their knowledge, said Thomas Jordan, a member of the governing board of the Swiss National Bank.
Rock-bond plan could pay off Bank loan
The British Treasury underlined its commitment to finding a private sector bidder for Northern Rock on Monday, publishing details of a strategy that would require no upfront repayment of the £26 billion ($50.6 billion) owed by the beleaguered mortgage…
Mexico holds rates at 7.5%
The Bank of Mexico's rate-setting board voted on Friday to keep rates at 7.5%.
Banking risks must be considered together
The impact of credit and interest rate risk, the two most important dangers faced by commercial banks, must be measured jointly, research published by the Bank of England finds.
Tax rules hamper Italian investment funds
Tax treatment severely handicaps Italian investment funds with respect to their foreign competitors, said Mario Draghi, the governor of the Bank of Italy.
Bank governance strengthened by independence
Independent directors at commercial banks can provide an important internal governance mechanism for protecting shareholders' interests especially in large-scale transactions such as mergers and takeovers, research published by the Kansas City Federal…
Tony Solomon, former NY Fed president, dies
Anthony M. Solomon, a former president of the Federal Reserve Bank of New York, died last Friday, at the age of 88.
Fisher urges Fed to avoid "trigger-happy" cuts
Having an itchy trigger finger with monetary policy risks shooting everyone in the foot, said Richard Fisher, the president of the Dallas Federal Reserve.
Poor growth will curb inflation: Fed's Pianalto
The impact of the housing crisis on the rest of the United States economy will help dampen price hikes, says Sandra Pianalto, the president of the Cleveland Federal Reserve.
British MPC faces tough choices warns deputy Gieve
The Bank of England's monetary policy committee (MPC) faces difficult decisions in the months ahead because of the dual threat of slowing growth and rising inflation, said Sir John Gieve, the deputy governor responsible for financial stability.
Turkey continues to cut rates
The Central Bank of Turkey's monetary policy committee voted on Thursday to lower its benchmark overnight borrowing rate by 25 basis points to 15.5%.
Fed must "respond pragmatically" to poorer outlook
Policymakers must be prepared to respond pragmatically to a recent bout of worse-than-expected data on the United States economy, said Dennis Lockhart, the president of the Atlanta Federal Reserve and a non-voting member of the Federal Open Market…
An inflation forecasting model for the eurozone
The Banque de France is building tools to predict euro-area inflation as well as price levels in the national economy.