News
Romania cuts by 50 basis points
National Bank of Romania lowers policy rate to the lowest level in more than a year to ease recession impact
Japanese wages plunge in June
Record fall in pay adds to fears of deflationary spiral in world's second-largest economy
SF Fed economist cautions on early warning systems
San Francisco Federal Reserve’s Mark Spiegel says suggested indicators would not have predicted crunch
Sao Tome signs euro-anchor deal
Island agrees loan deal with Portugal to anchor dobra to the euro
Egyptian rate cut fuels equities boom
Rate cut spurs rise in share prices
Deflation risk and unemployment hit euro area
Euro-area inflation slumps as unemployment soars
Clamp down on too-big-to-fail banks: UK lawmakers
Parliamentary committee sides with Bank of England in conflict with Treasury over reform
Reykjavik backs plans to remove capital controls
Iceland’s government approves central bank’s proposals for the removal on controls introduced after autumn 2008 crash
US Treasury official defends plans for consumer regulator
Neal Wolin argues new supervisor will eliminate “race to the bottom” among firms and regulators
Jamaica cuts rates for second time in a week
Bank of Jamaica has now cut rates by 2.5 percentage points since last Friday. Barbados also chops a half point off deposit rate
Beijing in policy about-turn as stocks dip
People’s Bank of China’s Su Ning says monetary policy will remain loose after main index falls 5%
Ireland releases “bad bank” proposals
Finance minister Lenihan says plans are not a bail out for banks
Book says Fed “challenged essence of democracy”
Pulitzer Prizewinner says Bernanke had more authority to fix subprime mess than any other individual
HKMA exchange fund records HK$23.3 billion profit
Hong Kong Monetary Authority says profits came on back of equities surge
Bank unveils commercial paper facility
Bank of England details Secured Commercial Paper Facility aimed at bolstering companies’ working-capital requirements
Bank stats show quantitative easing having little impact
Broad money measure targeted by Bank of England falls in June despite £125 billion-worth of quantitative easing
France to create joint banking and insurance regulator
French finance ministry announces plans to launch single banking and insurance supervisor next year
Temasek admits $28 billion-plus balance-sheet hit
CEO of Singapore sovereign wealth fund reveals portfolio loss and says it may open to public investment
Uncertainty clouds Italian gold tax
Silvio Berlusconi says gold levy criticised by ECB could be changed but Italian daily reports government plans to pass the tax in its current form
NY Fed’s Dudley says too premature to set exit date
New York Federal Reserve’s Bill Dudley says risks tilted toward weak growth and not high inflation
Heavyweight group dismisses mark-to-market fears
Group including Lucas Papademos and Jerry Corrigan clears accounting rules of role in crash
Fed bottom in government popularity poll
Gallup survey shows more than a fifth of Americans think that the Federal Reserve is doing a poor job as Bernanke steps up public relations efforts
Stevens’s crisis downgrade sends Aussie soaring
Markets jump on Reserve Bank of Australia governor’s upbeat outlook for economy
State-owned British banks to get a new boss
John Kingman steps down from the helm of UK Financial Investments on news that former Bank of England director will chair body