Central Banks
Canada's monetary policy update
Two days after raising rates, the Bank of Canada published its update on monetary policy. "Some modest further increase in the policy rate may be required," it says.
Tanzanian governor "will not resign"
The governor of the Bank of Tanzania, Daudi Ballali, called a special press conference at the end of last week in which he denounced mounting allegations against him as "malicious lies and fabrications" and said he had no intention of resigning.
Su heads Chinese central bank's Shanghai office
Su Ning, a deputy governor of the People's Bank of China is to be chief of its Shanghai office. Su succeeds Xiang Junbo, who has been appointed as the president of the Agricultural Bank of China.
ECB paper on Fed and ECB response to shocks
This ECB working paper employs a medium-scale dynamic general equilibrium model with financial frictions to contrast the policy responses of the ECB and the Federal Reserve to economic shocks since 2001.
Sants named as new FSA chief executive
Hector Sants has been appointed chief executive of Britain's Financial Services Authority (FSA). He will take up the post on 20 July 2007, succeeding John Tiner who steps down at the Annual Public Meeting on 19 July.
New foreign exchange strategy in New Zealand
Allan Bollard, the governor of the Reserve Bank of New Zealand, announced on 13 July that the central bank will move away from its current practice of matching its foreign assets to its foreign liabilities.
Chile announces first rate rise in a year
The Central Bank of Chile raised interest rates for the first time in a year and hinted that there was more to come. In a widely anticipated move, the central bank's five-strong board raised rates 25 basis points to 5.25%.
Lawmakers turn-up heat on Georgian governor
Speculation that the governor of the National Bank of Georgia, Roman Gotsiridze, may resign intensified after parliament passed a resolution calling for changes at the central bank.
Latvia leaves rates on hold
The Bank of Latvia's Council voted to leave its refinancing rate unchanged at 6% noting that its anti-inflation plan was starting to take effect and there were the first signs of a stabilisation in the real estate market.
Bank of Japan stays put
The Bank of Japan left its benchmark interest rate unchanged at 0.5% on Thursday. Only one board member, Atsushi Mizuno, opposed the decision and voted for a rate rise.
Korea raises rates to tame money growth
The Bank of Korea lifted raised interest rates by a quarter percentage point to 4.75% on 12 July. It was the first increase in Korean rates since August 2006.
Twin move leaves Philippine policy "neutral"
The Philippine central bank announced a sharp reduction of rates from 7.5 to 6% on 12 July. The move was, however, accompanied by the abolition of a policy of paying lower interest on large deposits with the central bank.
BoE's Sentance on monetary policy and business
Andrew Sentence, an external member of the Bank of England's Monetary Policy Committee (MPC) said on 10 July that the benefits to businesses from sound monetary policy "lie not in a temporary respite from higher interest rates, but in achieving a…
Million-dollar-a-minute growth in Chinese reserves
The People's Bank of China accumulated foreign exchange reserves at an average rate of just over $1 million per minute in the first six months of 2007. The central bank said on 11 July that reserves had grown by $266.3bn to $1.33 trillion between January…
Bank of Canada raises raises rates to 4.5%
The Bank of Canada has raised interest rates by 25 basis points despite its currency's recent appreciation again the US dollar which has taken it to its strongest level in 30 years against the greenback. The Bank of Canada said economic growth and…
Gieve says more to be done to hit inflation target
For the second time in as many weeks, John Gieve, the deputy governor of the Bank of England, has suggested that the central bank's Monetary Policy Committee (MPC) has not done enough to bring inflation back to its 2% target.
Weak integration in Asian bond markets
Integration in Asian bond markets has been weak and has stalled since 2003, argues a research paper from Hong Kong's central bank.
Strauss-Kahn gets EU boost for top Fund job
Dominique Strauss-Kahn, the former French finance minister, looks set to become the next managing director of the International Monetary Fund (IMF) after receiving the support of the finance ministers of the European Union (EU). The current managing…
Local currency bond markets risks lower
Exposure to currency depreciation risk has declined in most emerging market economies, according to a report on "Financial stability and local bond markets" published on 9 July by the Committee on the Global Financial System.
Barbados' Williams on exchange controls
Speaking at the opening of a new bank in Barbados, the governor of the central bank, Marion Williams, set out plans to end 35 years of exchange controls in the country.
Chicago Fed on subprime mortgages
A recent article by the Chicago Federal Reserve argues that the subprime mortgage market is facing substantial problems, as measured by delinquency rates, while the prime mortgage market is experiencing more typical delinquency rates, close to historical…
New French candidate for IMF emerges
A former finance minister of France, Dominique Strauss-Kahn, has emerged as one of the early favourites to become the next head of the International Monetary Fund (IMF). The current managing director, Rodrigo de Rato, announced last month that he would…
New non-executive directors for Bank of England
Roger Carr and Susan Rice have been appointed as non-executive directors of the Bank of England, replacing Sir Graham Hall and Mary Francis.
French honour for Maltese central bank governor
Governor of the Central Bank of Malta, Michael Bonello, has been awarded the Officier de la Legion d'Honneur by the French government.