Central Banks
Israel leaves rates at 4%
The Bank of Israel's rate-setting board voted on Monday to hold its benchmark rate at 4%.
Norway's Gjedrem on monetary policy limitations
Monetary policy cannot influence real economic variables such as output and employment in the long run, according to Svein Gjedrem, the governor of the Central Bank of Norway.
HKMA's Yam set for 2009 exit
Joseph Yam, the chief executive of the Hong Kong Monetary Authority, will step down in 2009 according to government sources.
Mexico unexpectedly hikes rates to 7.5%
The Bank of Mexico decided on Friday to raise its benchmark rate by 25 basis points.
Indonesian CB called on to aid corruption fight
Bank Indonesia is being pushed to join the fight to uncover accounts holding state funds that Mohamed Suharto, Indonesia's former president, is rumoured to have stolen.
Global events motivated Turkey's 50bp cut
The global economic slowdown expected to follow the credit crunch was behind the Turkish central bank's decision to cut its benchmark rate by 50 basis points earlier this month, minutes of the monetary policy meeting, published on Friday, reveal.
Why Poland's MPC held rates
According to minutes published on Friday, Poland's Monetary Policy Council (RPP) decided at its meeting on 25 and 26 September that as the medium term probability of inflation running above the inflation target (2.5% year-on-year) had fallen there was no…
Colombia holds rates at 9.25%
The Banco de la Republica decided on Friday to keep its benchmark rate at 9.25%.
Chile's Corbo highlights main risks
Three phenomena threaten economic stability in Chile, according to Vittorio Corbo, the governor of the central bank.
Inflation behind first Brazil hold in two years
Fears that economic growth could lead to inflation were behind the Central Bank of Brazil's decision to hold rates for the first time since July 2005 earlier this month, minutes published on Thursday reveal.
Indonesia still vulnerable to shock
Indonesia's current economic conditions mirror those that sparked the 1997-1998 Asian financial crisis and the central bank is working to protect the country from the impact of a potentially similar scenario, Budi Mulya, a director at Bank Indonesia,…
Czechs hold rates at 3.25%
The Czech National Bank decided on Thursday to keep its benchmark two-week repo rate at 3.25%.
Crisis not yet over - Switzerland's Hildebrand
The subprime crisis that triggered the credit market turbulence is undoubtedly not yet over and further global financial market turbulence is likely to slow down the Swiss economy, said vice-president of the Swiss National Bank Philipp Hildebrand in a…
UK funds unlikely to have helped in crisis
Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.
New shocks may emerge, Old Lady warns
Holders of stock, commercial real estate and the US dollar could be the next victims of the banking crisis, the Bank of England predicted in the latest edition of its financial stability report.
New Zealand leaves rates at 8.25%
The Reserve Bank of New Zealand decided on Thursday to hold its benchmark official cash rate at 8.25%.
Chavez takes control of Venezuelan Central Bank
The Venezuelan government has regained control of the central bank following a parliamentary vote on Wednesday.
UK business view used to judge economic impact
Kate Barker, a member of the Bank of England's monetary policy committee, will use business surveys and housing market indicators to judge whether the downside risks to the UK's inflation outlook have increased.
Non-bank financial firms' impact on the eurozone
The growth in the amount of deposits held by financial institutions other than banks in the euro area has led to the integration and deepening of the region's financial markets and a shift in the attitude of investors towards risk, research by the…
Australian inflation stats make rate hike likely
A November rate hike looks a near certainty after Reserve Bank of Australia data showed a higher-than-expected percentage-point jump in inflation.
Scale of subprime unknowable until 2008: Weber
Axel Weber, the president of the Bundesbank, said on Tuesday that the extent of the subprime crisis will remain unknown until at least the end of 2007.
Gono set to put shopping "anarchy" right
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, said that the central bank would soon correct the "anarchy" that erupted after the government ordered retailers to cut prices in June.
Polish governor was sole dissenter on rate vote
Slawomir Skrzypek, the governor of the National Bank of Poland, was the only member of the monetary policy council to vote against the decision to raise the benchmark interest rate to 4.75% in August.
Bank of England reports on the crisis
The Bank of England has acknowledged that the recent banking crisis has revealed that the UK's financial authorities need to strengthen their crisis management arrangements.