News
Iceland cuts by 150 basis points
The Central Bank of Iceland cut its policy rate by one and half basis points to 15.5% on Wednesday, the second cut in less than a month.
Bernanke, Dudley justify Talf
Ben Bernanke, the chairman of the Federal Reserve, and William Dudley, the president of the New York Fed, moved to temper fears among lawmakers that the central bank's Term Asset-Backed Securities Loan Facility (Talf) puts taxpayers' money at risk.
Hildebrand named new Swiss National Bank head
Philipp Hildebrand, the vice-chairman of the board of governors at the Swiss National Bank, will take over from Jean-Pierre Roth as chairman of the board at the start of next year.
Fisher hints at new anti-inflation tools for Fed
Richard Fisher, the president of the Dallas Federal Reserve, gave the clearest signal yet that the central bank will soon be handed new tools to counter the inflationary impact of its crisis-fighting measures.
UK opposition moots change to BoE price target
Britain's main opposition party has indicated that it will review the Bank of England's inflation target if it comes to power.
IMF: toxic-debt bill to hit $4 trillion - report
The International Monetary Fund (IMF) is allegedly set to release new forecasts showing the cost of writedowns could reach $4 trillion, a leading British newspaper has reported.
Renminbi should be added to SDR basket: Mundell
Robert Mundell, a Nobel Prize-winning economist, has called for the International Monetary Fund to add the renminbi to the list of currencies represented in its special-drawing-rights (SDRs) basket.
Bulgarian public to get first-ever peek inside CB
The Bulgarian National Bank is set open its doors to the public for the first time in its 130-year history later this month.
Sri Lanka names four new deputies
The Central Bank of Sri Lanka will promote four assistant governors to the rank of deputy in the coming months.
SDR injection inflationary, ECB's Stark warns
Jurgen Stark, a member of the European Central Bank's executive board, has panned the G20's decision to create $250 billion-worth of special drawing rights (SDRs).
Plans for GCC central bank veer off track
Gulf states have yet to decide on the location of a regional central banking hub almost seven months after they were scheduled to announce the hub's site.
Crisis hampering eurozone integration: ECB
The European Central Bank (ECB) has warned that the pace of pan-European financial integration could slow in the wake of the financial crisis.
Fed sets up sterling, yen, euro, franc swap lines
The Federal Reserve will be able to provide sterling, euro, yen and Swiss franc liquidity to banks with American operations after agreeing swap lines with the relevant monetary authorities.
IMF: eastern EU states must adopt euro - report
The International Monetary Fund (IMF) is alleged to have advocated fast-track eurozone accession for eastern European countries grappling with high amounts of external debt.
Zimbabwe's Gono in the dock over unpaid wages
Employees of the Reserve Bank of Zimbabwe are taking Gideon Gono, the governor of the central bank, to court over his failure to pay them for three months, say local media reports.
Irish economy to shrink by 7%: central bank
The Irish economy is set for an even worse year than previously thought, according to the latest forecast by the country's central bank.
Congress clamps down on Fed opacity
Pressure on the Federal Reserve to declare the recipients of its loans stepped up on Thursday after the Senate backed legislation which supports the outlawing of Fed borrowers' anonymity.
Fed bailout critic Stern to step down
Gary Stern, the president of the Minneapolis Federal Reserve and a vociferous critic of the Fed's recent bailouts, is to retire. He is the longest-serving senior Fed official.
RBI prepares for 75th anniversary
The Reserve Bank of India (RBI) commemorated entering its 75th year on Wednesday with a speech by the governor, who announced plans to mark its platinum jubilee.
Tarp could cost taxpayers more
The Congressional Budget Office has raised its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program (Tarp) by 51%.
FSF details reform proposals
A leverage ratio, less risky pay deals and closer work on cross-border contingency planning are among the measures for a new global regulatory code outlined by the Financial Stability Forum on Wednesday.
Markets surge on G20 $1 trillion recovery package
Equity markets in Europe and the United States soared on Wednesday on news that global leaders had pledged an extra $1 trillion to spur an economic recovery.
Harsh standards prompt drop in secured UK loans
Tighter lending conditions have sparked the steepest-ever climb in British housing equity in the last quarter of 2008.
Agenda set for derivatives industry
A meeting at the New York Federal Reserve on Wednesday of the major players in the over-the-counter derivatives market culminated in a four-point agenda for the industry.