Central Banks
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.
Unexpected tightening in Pakistan
Pakistan's central bank has unexpectedly raised its benchmark interest rate to its highest level in more than five years after inflation exceeded its target.
Indian cash reserve ratio increase
The Reserve Bank of India, the country's central bank, today left its key interest rates - the repurchase rate and the reverse repurchase rate - unchanged at 7.75% and 6% respectively, but increased the cash reserve ratio.
Slovakian rates on hold
The board of Narodna Banka Slovenska, the central bank of Slovakia, decided keep current interest rates on hold after a meeting of the monetary policy committee.
Philippines: e-rediscouting system
In a speech made on the launch of an electronic rediscounting system, Amando Tetangco Jr, governor of the central bank of the Philippines, said that the system would expand access to credit of countryside areas in the Mindanao region.
ECB on downward wage rigidity
A study published by the European Central Bank (ECB) on 31 July, has found that the number of industries affected by downward nominal wage rigidity in OECD countries increased between the 1970s and 1990s.
China lifts reserve requirement ratio
The People's Bank of China, the country's central bank, raised the amount that lenders are required to hold in reserve for the ninth time in 13 months.
Kuwait lets dinar fall again
Kuwait allowed the dinar to depreciate against the dollar for the second straight working day on Sunday July 29, this time by 0.05%.
Colombia raises rates
Colombia's central bank raised the overnight interbank rate by a quarter of a percentage point to 9.25%, the highest level since 2001.
New president of Chicago Fed
The Federal Reserve Bank of Chicago today announced that Charles L. Evans will become the bank's ninth president and CEO as of September.
Paper on reserve accumulation
This paper suggests that while the hoarding of foreign exchange reserves by emerging-market economies could initially be explained primarily in terms of "self insurance" against global shocks, this explanation increasingly falls short.
Gambian central bank governor quits
The governor of Gambia's central bank, Famara Jatta, has left the country to take up the less prestigious position of representative of the African Development Bank (ADB) in Sudan.
Front-runners to succeed Canada's Dodge
Who will succeed David Dodge when he retires as governor of the Bank of Canada in January 2008? The two favourites are the senior deputy governor, Paul Jenkins, and ex-central banker Mark Carney, now a senior associate deputy minister of finance, but…
Nigerian central banker becomes finance minister
The president of Nigeria, Umaru Yar'Adua, appointed Shamsuddeen Usman, a deputy governor at the country's central bank since 1999, as finance minister.
Trichet: no complacency on sub-prime markets
In an interview Jean-Claude Trichet, president of the European Central Bank, said he remained cautious of the crisis of the sub-prime market in the United States.
New Zealand raises official cash rate
The Reserve Bank of New Zealand has raised its official cash rate (OCR) by 25 basis points to 8.25%, while indicating that further rises may not be necessary.
Czech National Bank raises rates
As widely expected the Czech National Bank (CNB) today raised its main interest rate by 25 basis points to 3% in an ongoing rate tightening cycle.
Unexpected rise in eurozone money supply
Data from the European Central Bank (ECB) released today showed a surprise jump in M3 money supply in the eurozone and loans to the private sector.
Polish rates stay at 4.5% as expected
Poland's central bank kept interest rates unchanged at its meeting on 25 July. The halt in monetary tightening comes after two rises in the three previous months raised rates to 4.5%.
Malaysian central bank leaves key rate unchanged
The central bank of Malaysia, Bank Negara Malaysia, has left interest rates unchanged at 3.5%. The decision had been widely expected as inflation has eased substantially to 1.4% in June, after averaging 2% in the first six months of this year.