Central Banks
Bank of England committee unanimously backed cut
All nine members of the Bank of England's monetary policy committee voted in favour of cutting rates to 5.5% earlier this month, minutes published on Wednesday reveal.
China SWF invests $5 billion in Morgan Stanley
The China Investment Corporation (CIC) became the latest sovereign wealth fund to capitalise on commercial banks' subprime losses on Wednesday, injecting $5 billion into Morgan Stanley, an American financial services group. The deal could lead to CIC…
Central bank injections reduce borrowing costs
Central banks' attempts to narrow the spread between their benchmark and money market rates by offering funds at attractive costs have met with some success.
Riksbank holds rates at 4%
The Riksbank's rate-setting board voted on Wednesday to keep its benchmark repo rate at 4% despite higher-than-predicted inflation.
SWF stakes should be limited: SNB's Hildebrand
Sovereign wealth funds' stakes in foreign companies must be significantly below the threshold of a controlling minority to avoid a resurgence of state ownership, said Philipp Hildebrand, the vice chairman of the Swiss National Bank.
Fed's Lacker "troubled" by US inflation
Jeffrey Lacker, the president of the Richmond Federal Reserve, said on Wednesday that he was uncomfortable with the inflation picture in the United States.
Globalisation adds importance to monetary policy
A stronger case exists for central banks maintaining price stability as the impact of financial globalisation grows, research by the International Monetary Fund finds.
ECB adds an extra €170 billion
The European Central Bank (ECB) on Tuesday injected about €170 billion-worth ($245 billion) of extra funds into eurozone money markets after saying on Monday night that it would offer eurozone banks an unlimited amount of two-week loans at below…
Banks take Old Lady's money
The Bank of England's adoption of a new auction method for open market operations met with success on Tuesday as all of the available funds were allocated.
Canada needs a single securities law, says Dodge
David Dodge, the outgoing governor of the Bank of Canada, said on Monday that a single securities law was needed for Canadian companies to compete.
Slovakia holds rates at 4.25%
The National Bank of Slovakia's rate-setting board on Tuesday opted to keep the benchmark limit rate for two-week repo tenders at 4.25%.
Interbank conditions influenced RBA decision
The Reserve Bank of Australia's rate-setting board decided to leave rates unchanged in November because of interbank tensions, minutes of the meeting published on Tuesday reveal.
China's Zhou speaks on financial stability
Flexibility and adaptability must be improved if central banks are to successfully deal with financial instability, says Zhou Xiaochuan, the governor of the People's Bank of China.
Only banks can fully solve lending problem: King
No amount of central bank liquidity can bring interbank rates back down to normal levels, Mervyn King, the governor of the Bank of England, said on Tuesday.
Near-record inflation forces Oman to limit lending
The Central Bank of Oman upped banks' reserve requirement ratio on Sunday in a bid to curb rampant inflation.
Hungary holds rates at 7.5%
The National Bank of Hungary's rate-setting council voted on Monday to keep its benchmark base rate at 7.5%.
Greenspan warns of stagflation risk
Alan Greenspan, a former chairman of the Federal Reserve, warned on Sunday that the United States economy was exhibiting the first signs of stagflation.
Report details practices at G10 central banks
The Markets Committee on Monday published a report on the monetary policy frameworks and open market operations at the G10 central banks.
IMF's Kato adds voice to calls for transparency
Investors need greater transparency of the on- and off- balance sheet exposures of financial institutions, as well as of the interrelationships between asset managers, and special purpose vehicles, said Takatoshi Kato, a deputy managing director of the…
UK's inflation expectations reach eight-year high
Britons' inflation expectations rose to the highest level for eight years in November, the Bank of England's Inflation Attitudes Survey has revealed.
Chile surprises with decision to hike rates to 6%
The Central Bank of Chile's rate-setting board voted to raise the monetary policy interest rate unexpectedly by 25 basis points to 6% on Thursday.
Turkey slashes policy rate to 15.75%
The Central Bank of the Republic of Turkey's rate-setting committee voted on Thursday to cut its benchmark overnight interest borrowing rate from 16.25% to 15.75%.
Kenya leaves rates at 8.75%
The Central Bank of Kenya's rate-setting committee voted on Thursday to hold the benchmark Central Bank Rate at 8.75%.
Financial crisis has affected eurozone stability
Uncertainty surrounding financial stability in the euro area has heightened as a result of the recent financial turmoil, Lucas Papademos, the vice president of the European Central Bank, confirmed on Thursday.