Central Banks
Philippines to hold rates
Amando Tetangco, governor of the Central Bank of the Philippines, hinted that interest rates would remain unchanged for the foreseeable future.
Polish inflation to stay below 3.5% until 2009
Slawomir Skrzypek, the governor of the National Bank of Poland, says inflation will not top 3.5% in the next two years. Interest rates, he added, should remain unchanged as a result.
New Zealand breaks with the Brash era
Going for growth will come back to haunt the Reserve Bank and its governor, writes Rodney Dickens
A crisis of identity
The loss of its managing director could not have come at a worse time for an IMF looking to remodel itself. Klaus Engelen reports
How to manage system risks
Many central banks can forget best-of-breed solutions for IT systems. Terry Beadle offers some realistic proposals
The pretend market for money
The current approach to monetary operations is complex, unnecessary and expensive, argues Julian Wiseman
Does the global output gap matter?
Recent studies point to the increasing importance of global economic forces for domestic inflation. But policymakers are far from convinced, writes Assistant Editor Malan Rietveld
Reform in the midst of crisis
George Abed tells the story of the development of Palestine’s central bank
News analysis: Gulf economies: divided we stand
Kuwait’s decision to loosen its dollar peg may herald an era of greater national economic independence in the Gulf, writes Narayan Lakshman.
News analysis: India’s foreign exchange debate
A proposal for the Reserve Bank to part with some of its reserves risks setting a dangerous precedent, writes Narayan Lakshman
Scorecard for Bulgaria’s currency board
After ten years of running under a new law, Bulgaria’s central bank can be proud of its record, writes Steve Hanke
Calls for New Zealand to drop inflation target
The New Zealand stock exchange operator, New Zealand Exchange (NZX), has called for on the country's central bank to abandon its strict inflation target. Michael Cullen, the finance minister, called the suggestion "very interesting and very well…
Peruvian rates on hold
Peru's central bank kept interest rates unchanged on 2 August, after last month's unexpected rate rise.
Trichet signals September hike
The European Central Bank (ECB) today left interest rates unchanged at 4%. In a surprise press conference after the announcement, Jean-Claude Trichet, the president of the central bank, dropped a strong hint that rates will rise at the next meeting in…
Bank of England leaves rates unchanged
The Bank of England today announced that it would leave its benchmark interest rate at 5.75%. The decision to hold rates steady was widely expected, though most economists expect rates to rise to 6% before the end of this year.
Poole says Fed should not react to volatility
William Poole, the president of the Federal Reserve Bank of St Louis, says there is no need for the Fed to react immediately to recent volatility in the financial markets.
Malawi makes first rate cut in three years
The Reserve Bank of Malawi, the country's central bank, reduced its bank rate to 17.5% from 20% yesterday, encouraged by falling inflation and a strong economic turnaround.
Italian government eyes reserves for debt payment
The Italian government is proposing to use part of the central bank's gold and currency reserves to pay down national debt, which is currently at 107% of the country's gross national product. The country's parliament has approved a resolution calls for…
Thailand mulls external reserves managers
Tarisa Watanagase, the governor of the Bank of Thailand, says the central bank may outsource the management of part of its $73 billion reserve holdings to maximise investment returns.
Russian fund rakes in $3.4 billion
The Russian Stabilisation Fund, which manages part of the foreign-currency proceeds from the country's oil exports, earned more than R85 billion ($3.4 billion) in the year to 1 July.
China's first payment system development report
The People's Bank of China issued the first report on developments in the country's payment systems on Tuesday. The report reveals the progress, relevant data and the future policy orientation of the payment systems in the country.