News
Hungarian rate falls to record low
National Bank of Hungary rate-setters slice a quarter point off key rate, now at all-time low
Mauritius’ deputy standing in as governor faces probe
Yandraduth Googoolye acting governor at Bank of Mauritius as former head faces parliamentary enquiry into allegations of abuse of power
Ireland’s Honohan pushes for wage cuts
Irish central bank governor says cuts necessary to reverse unemployment rise
Jordan cuts to boost growth
Jordanian central bank shears half a percentage point off its key overnight deposit rate to stimulate the flagging domestic economy
Greece dumps debt management chief
General manager of treasury and global markets at National Bank of Greece named new head
Fed’s discount rate hike jolts markets
Federal Reserve firms exit strategy by lifting the rate at which it lends to banks by a quarter percentage point, markets teeter
Russia cuts on carry trade concerns
Bank of Russia chops a further 0.25% off its key refinancing rate and intervenes in currency markets on worries of rouble strength
Challenges for a new Ukrainian governor
Analysts say governor Volodymyr Stelmakh will leave once election results are confirmed, replacement faces challenges including managing the currency
Bank chief economist Dale reappointed
Second term as rate-setter for hawkish executive director Spencer Dale, external member Kate Barker to leave at the end of her current term
SA finance minister flip flops on inflation targeting
South Africa’s Pravin Gordhan says inflation-fighting approach to be “totally different” days after pledging to keep Reserve Bank’s monetary-policy mandate unchanged
Draghi moves to clarify Greek-swap role
Bank of Italy governor not involved in under-fire Greek swap deals; moves to justify Italian transactions
IMF to sell gold in the market
Fund’s move comes after offer of sale to central banks
Plosser defends regional Feds’ rate-setting role
Regional Fed presidents’ votes help link monetary policy with Main Street
ECCB sued by Stanford investors
Eastern Caribbean Central Bank faces class-action from investors who allege the value of Bank of Antigua, seized by the central bank last year, is rightfully theirs
Europe works to cut banks’ reporting burden
The European Central Bank and Committee of European Banking Supervisors publish a system that will eliminate double reporting and improve quality of data
Switzerland delays new banknote series
Swiss National Bank says move made on back of security concerns
Libya opens doors to foreign banks
Libyan central bank welcomes overseas institutions interested in setting up a subsidiary, says ongoing reforms and strong economic performance offer great prospects for banks
Argument for QE hold “finely balanced”: Bank
Bank of England’s Monetary Policy Committee all backed decision to pause on QE, but for some vote a close call
Iceland can afford to repay UK and Holland: MPC member
Icelandic rate-setter says country neither too small nor weak to make Icesave repayments, but criticises “ungenerous” deal given by British and Dutch governments
Bank plays down inflation threat
Above-target inflation likely to soon abate, Bank of England’s governor says in letter to chancellor of the exchequer
Constâncio made new ECB vice president
Bank of Portugal’s governor to succeed Papademos, former research head seen as possible replacement
New rate-setters named in Poland
Poland’s president names three new members to the monetary policy council, newcomer says country has scant hope of meeting Maastricht criteria for euro adoption
US real-estate concern goes global
Reserve Bank of Australia assistant governor Guy Debelle says US commercial real estate woes may impose further crippling losses on banks
Governors back greater role for monetary aggregates
Christian Noyer, Glenn Stevens and Duvurri Subbarao say more attention must be paid on monetary aggregates