Central Banks
Bank of England MPC members explain decisions
The testimonies of individual members of the Bank of England's rate-setting monetary policy committee (MPC) before the Treasury select committees on 28 June, provided some clues as to the timing of further tightening.
Czech rates on hold, hikes to follow
The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central…
Albanian rates up by 0.25%
Albania's central bank raised interest rates by 25 basis points to 5.75% on 28 June. The central bank's governor, Adrian Fullani, said the risk of inflation had grown stronger lately, prompting the central bank's board of directors to act.
HKMA's Yam on renminbi bonds
Renminbi-denominated bonds in Hong Kong are part of a bigger picture for both Hong Kong and the Mainland, writes Joseph Yam.
Fed to streamline cheque processing
As consumers shift to electronic payments, the Federal Reserve Banks set out plans to streamline cheque processing.
RBA's Lowe on the 2007/08 review of payments
Speaking at the 4th International Consumer Credit Card Summit in Sydney, Philip Lowe set out the Payment System Board's plans for its review this year.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
Brazil extends inflation target of 4.5% to 2009
The National Monetary Council of Brazil has extended the central bank's annual inflation target of 4.5% to 2009, which it says will provide policymakers with the "flexibility" to deal with unexpected price increases.
Slovakia keeps rates steady
All key interest rates were left unchanged by the board of the National Bank of Slovakia at its regular monthly meeting on 26 June.
Bank of Israel leaves rates unchanged
The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.
Bank of England losing economists to the City
The annual report of the Bank of England, published on 25 June, acknowledged concerns about the departure of some of the central bank's economists, seduced away from Threadneedle Street by the promise of higher pay in the financial service sector.
FSA's hedge fund supremo changes sides
The British Financial Services Authority has seen a number of its senior regulators leaving to join the ranks of the regulated, and the latest is Chris Rexworthy, who was responsible for setting up the Authority's hedge fund practice.
Bank of Mexico keeps interest rate on hold
The Bank of Mexico, the country's central bank, held its overnight lending rate at 7.25% on 22 June, after a larger than expected fall in consumer prices in May.
Bank of Israel - reserves report
The annual report of the Foreign Currency Department describes and analyses changes in the level of Israel's foreign exchange reserves, developments in their management, liquidity, rate of return and the risks to which the reserves portfolio is exposed.
Tight monetary policy in Sri Lanka pays off
The Central Bank of Sri Lanka announced on 25 June that rates will remained unchanged at 10.5%. The central bank also published its regular review of monetary policy on 25 June, noting that improvements in the external and monetary sectors of the economy…
"Whitening effect" changes Hungary's thinking
In a surprise move the National Bank of Hungary cut its benchmark interest rate on 25 June. Rates remain the highest in the European Union, despite the 25 basis point cut which took them to 7.75%. It was the first rate change in Hungary since October…
Geithner on lessons from the Asian crisis
That crisis countries had fixed but adjustable pegs, was one of the main lessons Tim Geithner, the president of the New York fed, highlighted ned in a recent speech.
Target2 progress report
With all the hype surrounding the ECB's T2S, it is easy to forget that the launch of the Single Shared Platform (SSP) for the Target2 payments system is less than five months away.
BoE's governor blames banks for £5 note shortage
Mervyn King, governor of the Bank of England, criticised the short supply of "fivers" in his annual Mansion House speech on 20 June.
Credit mis-pricing in India creates risks
Mis-pricing of credit risks by domestic bankers can both create systemic vulnerability and have implications for small borrowers, the deputy governor of the Reserve Bank of India, Rakesh Mohan, noted yesterday.
Kuwaiti institutions under fire from Parliament
Members of parliament in Kuwait launched a fierce attack on the Central Bank of Kuwait (CBK) and the Kuwait Investment Authority (KIA), saying that some of their officials were deriving personal benefit from their decisions and investments.
Angola can end this year with 10% inflation: cb
The National Bank of Angola, the country's central bank, has stated its confidence that Angola can end this year with an inflation rate of 10%, while acknowledging that structural difficulties in the economy may get in the way of achieving this…
Provinces press Canadian cb not to raise rates
Ontario was in the forefront of pressure from the Canadian provinces on Bank of Canada governor David Dodge not to raise interest rates.
Polish bank head outvoted over rate rise
The National Bank of Poland's president was on the losing side as the rate-setting committee voted 6-4 for the first rise in interest rate in three years in April, a report released today showed.