Central Banks
Stability not gradualism has influenced UK MPC
The relative paucity of rate changes at the Bank of England since the institution became independent in 1997 is down to the increased stability of inflation and output growth, rather than a rise in the degree of gradualism, research published by the Bank…
Injections were vital: Deutsche Bank's Ackermann
Central banks' liquidity injections were crucial in averting the collapse of financial institutions, said Josef Ackermann, the chairman of Deutsche Bank.
Rock repays Bank debt with JPMorgan sale
Northern Rock, the beleaguered British mortgage lender, is to pay back some of its Bank of England debt through the sale of a mortgage portfolio worth £2.2 billion to JPMorgan, the- American investment bank.
Tanzania's Ballali fired over central bank fraud
Jakaya Kikwete, Tanzania's president, has sacked Daudi Ballali, the governor of the Bank of Tanzania, after external auditors found massive fraud at the central bank.
Chile raises rates
The Central Bank of Chile voted on Thursday to hike rates by 25 basis points to 6.25%.
Peruvian rates hit 5.25% on inflation fears
The Central Bank of Peru's rate-setting board raised rates to 5.25%.
Complex rules pose a threat to stability
Opaque regulations not only deepen financial instability but also raise the likelihood of banking crises, research published by the Bank of Korea finds.
Japanese business prepares for e-money surge
The number of payment devices for processing e-money transactions in Japan is set to almost double by 2010 as the payment method gains popularity with consumers.
Fed ready to act on worsening outlook: Bernanke
The Federal Reserve looks set to cut rates further after its chairman, Ben Bernanke, said central bank policy would look to counter the increasing risk of an economic slowdown.
UK rates held at 5.5%
The Bank of England's monetary policy committee (MPC) on Thursday voted to keep the benchmark bank rate at 5.5%.
ECB holds rates, warns of inflation risk
The European Central Bank kept rates on hold at 4% on Thursday, with its president, Jean-Claude Trichet, reiterating that upside risks to price stability were "fully confirmed".
Czech governor misquoted on currency comments
Comments attributed to Zdenik Tuma, the governor of the Czech National Bank, which led to exchange rate fluctuations, have misquoted him, the Czech National Bank has said.
Muto lists criteria for Bank of Japan decisions
The Bank of Japan should assess three phenomena when deciding on monetary policy, says Toshiro Muto, a deputy governor.
Central banks get cheaper cash from companies
Private-sector involvement in the printing of banknotes substantially lowers costs, research published by Colombia's Banco de la Republica finds.
Bank of Canada plans to increase transparency
Canada's central bank will review whether to provide more information about its predictions for the economic outlook in a bid to improve transparency.
France renews onslaught on ECB policy
The French government has resumed its campaign calling for the European Central Bank (ECB) to cut rates.
Decision supports ECB on counterfeit check
The European Central Bank (ECB) won backing from a French court on Wednesday for the right to use a method to detect fake notes.
New Korean government to leave central bank alone
South Korea's incoming government, elected in December, will respect the Bank of Korea's independence, an official said on Wednesday.
Should rate policy note Wall Street's influence?
Reflecting on the Federal Reserve's recent decisions, Stephen Cecchetti, the Rosenberg professor of global finance at the Brandeis International Business School, asks whether it is wise to separate actions to ensure financial stability from those to aid…
Fed's Rosengren calls for banks to declare losses
Banks must fully disclose their losses to limit the damage of the subprime fallout, says Eric Rosengren, the president of the Boston Fed.
Israeli central bank set for greater independence
Israel's new central banking law will create a more independent institution, said Stanley Fischer, the governor of the Bank of Israel.
Fed's Plosser stays hawkish on rates
Charles Plosser, the president of the Philadelphia Federal Reserve and a voting member of the rate-setting Federal Open Market Committee (FOMC), hinted that he would back a rate hold when the committee meets later this month.
Bank Indonesia avoids rate cut on price fears
Bank Indonesia's rate-setting board voted to keep rates on hold at 8% on Tuesday after inflation remained way above the central bank's medium-term target in December.