Central Banks
Some grim reading for bankers
A paper published by the European Central Bank has found the interdependence of lending decisions by national subsidiaries of global banks can lead to contagion.
Mini-crises stretch ahead: UK economist
Instead of a sharp but swift adjustment, the prospect now is for a series of mini-crises stretching for years ahead, says the City economist Stephen Lewis in his commentary on the latest developments in the UK banking crisis.
China and Japan renew currency swap agreement
Zhou Xiaochuan, the governor of the People's Bank of China, and Toshihiko Fukui, the governor of the Bank of Japan, renewed their currency swap agreement in Tokyo on Thursday.
Mexico holds rates at 7.25%
The Bank of Mexico on Friday voted to keep its benchmark overnight lending rate at 7.25%.
Bank of England issues auction information
The Bank of England published on Friday details of its forthcoming term auctions.
Liquidity and the lender of last resort
A Banque de France research paper has found that a relatively small liquidity shock can disrupt markets, which means the probability of default for leveraged investors is higher than standard risk measures suggest.
Merkel defends ECB's independence
German Chancellor Angela Merkel implicitly criticised fellow head of government Nicolas Sarkozy of France when she said at an event to celebrate 50th anniversary of the Bundesbank that her government will block any attempts to exert political influence…
Riksbank deputy notes lessons of last 40 years
Lars Svensson, a recently-appointed deputy governor at Sweden's Riksbank, offered a "selective, eclectic, and possibly controversial" collection of lessons learned about monetary policy since 1967.
Kohn defends Fed against moral hazard claims
Donald Kohn, the vice-chairman of the Federal Reserve, defended the Federal Reserve against claims that its monetary policy feeds moral hazard because its responses to booms and busts in asset prices are asymmetrical.
Riksbank minutes from executive board meeting
The Sveriges Riksbank, the country's central bank, released the minutes of the most recent meeting of its rate-setting board on 6 September.
Fed unveils new $5 bill
The Federal Reserve, the American central bank, today unveiled a new, more secure design for the $5 banknote that will be issued and enter circulation in early 2008. A new $100 bill will follow.
Taiwan raises interest rates again
Taiwan's central bank raised its key interest rates by a further 12.5 basis points, after an increase of 25 basis points in June. The move brings the discount rate to 3.25%.
New deputy governors for Bank Indonesia
Jakarta's local business newspaper, Bisnis Indonesia, has reported the appointment of two new deputy governors for Bank Indonesia, the country's central bank.
November for Poland's next rate rise?
Marian Noga, a policymaker at Poland's central bank, said in an interview that it is likely the bank will next raise rates in November with two hikes in the new year.
Australia's Payment Systems Board report - 2007
Australia's Payment Systems Board, which is chaired by the central bank governor, published its annual report for 2007 on Wednesday.
MPC minutes show 9-0 vote to hold rates
Minutes from September's meeting of the Bank of England's rate setting Monetary Policy Committee show that all the members were in favour of keeping the cost of borrowing at 5.75%.
Nyberg on monetary and financial stability
The interaction of monetary and financial stability is one of the most discussed issues in central banks and academia today, and is likely to remain high on the agenda for the foreseeable future, said Lars Nyberg, a deputy governor at Sweden's central…
Japan keeps rates on hold
The Bank of Japan's monetary policy board decided to keep rates on hold at 0.5%.
Knut Kjr quits Norway's oil fund
Knut Kjr announced his resignation as head of Norges Bank Investment Management (NBIM), which manages the country's oil-fuelled $330 billion pension fund and the bulk of the central bank's forex reserves.
Former Fed governor seeks gainful employment
In his memoirs, The Age of Turbulence, Alan Greenspan presents himself very much as a global leader; he hobnobs with former UK prime ministers Margaret Thatcher and Tony Blair, features the current prime minister, Gordon Brown, the president of China,…
Bank of England backtracks on money market tactics
In a remarkable about-turn, the Bank of England yesterday moved to inject liquidity into the longer-term money market by announcing plans to provide funds at three-month maturity against a wide range of collateral, including mortgages.
Bernanke's boost for global stock markets
Shares around the world surged on news of the Fed's half-point cut in interest rates.
Mervyn King - a governor in distress
No governor of the Bank of England in living memory - and very few governors of any industrial country - has come in for such an avalanche of media criticism as Mervyn King has suffered in recent days.