Central Banks
India increases reserve ratio to dampen inflation
The Reserve Bank of India has hiked its cash reserve ratio from 7% to 7.5% in an effort to curb inflation. The revised ratio, which was announced as part of its mid-term review of annual policy for the 2007/08 financial year, will apply from 10 November.
Norway leaves key rate at 5%
The Bank of Norway's executive board decided on Wednesday to keep its benchmark sight deposit rate at 5%.
Poland holds rates
The National Bank of Poland's rate-setting council decided to hold rates on Wednesday after data revealed economic growth will be slightly weaker than expected.
Monetary policy must put inflation first: Weber
Monetary policy's primary role is to guarantee price stability, said Axel Weber, the president of the Bundesbank.
Fed cuts rates despite strong growth
The Federal Open Market Committee (FOMC) decided on Wednesday to cut the federal funds rate by 25 basis points to 4.5% in spite of better-than-expected economic growth for the third quarter.
Japan rate hike unlikely after unemployment rises
The Bank of Japan's plans to raise rates may have to be put on hold again after government data on Tuesday revealed a 0.2% increase in the unemployment rate.
Pressure rising over currency, says China's Yi
The contrast between US and Chinese monetary policy is exacerbating the pressure on the People's Bank of China to allow the renminbi to appreciate.
Hong Kong and Malaysia look to reduce risk
The Hong Kong Monetary Authority and Bank Negara Malaysia looked to eliminate the settlement risk of US dollar bonds issued and traded in Malaysia with the launch of a payment link on Monday.
Hungary holds rates at 7.5%
The National Bank of Hungary's rate-setting board voted on Monday to keep its benchmark central bank base rate at 7.5%.
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.