News
Bank to begin buying corporate bonds next week
The Bank of England said on Thursday that it would begin buying corporate bonds outright next week.
Iceland's new MPC cuts by 100bp in first decision
The Central Bank of Iceland's Monetary Policy Committee, set up earlier this month, has cut the key policy rate by a full percentage point to 17%.
Fed feedback: bombshell welcomed but some concern
Reaction to the Federal Open Market Committee's decision to buy Treasuries has been broadly positive but some are concerned by the apparent rashness of a decision about which Fed officials had given scant indication.
Morgan Stanley economist new MPC member
Alistair Darling, the chancellor of the exchequer, announced on Thursday that David Miles will replace David Blanchflower as an external member of the Bank of England's Monetary Policy Committee (MPC) on 1 June.
Sri Lanka keeps on cutting
The Central Bank of Sri Lanka slashed its policy rate by 175 basis points to 14.75% on Wednesday in an effort to encourage lending and revive economic activity.
Fed to buy Treasuries
The Federal Open Market Committee said on Thursday that it will buy up to $300 billion in Treasuries and an additional $750 billion of agency mortgage-backed securities. It will also invest an additional $100 billion in agency debt.
King moots Glass-Steagall revival
Mervyn King, the governor of the Bank of England, has called for a debate on whether the global financial crisis has shown that a Glass-Steagall type provision is needed to prevent retail deposits from being used to fund investment-banking activities.
SA shifts to monthly schedule for rate moves
The South African Reserve Bank's rate-setters are will vote once a month for the remainder of the year after the central bank announced it was doubling the frequency of its meetings for 2009.
FSA's Turner unveils blueprint for reform
Lord Adair Turner, the chairman of Britain's Financial Services Authority (FSA), on Wednesday published proposals for fundamental regulatory overhaul of the financial system, which includes a shift in the approach of the industry watchdog, whose…
BoJ pledges up to 1 trn in subordinated loans
The Bank of Japan is to offer its banks subordinated loans worth up to 1 trillion ($10.1 billion) to bolster its banking sector, crippled by the recent slump in equity prices.
Serbian governor contradicts Belgrade on EU aid
Radovan Jelasic, the governor of the National Bank of Serbia, has said that central and eastern European states should avoid over-reliance on European Union (EU) aid just hours after it emerged that Belgrade was seeking assistance from Brussels.
Italy's Draghi calls on banks to raise capital
Mario Draghi, the governor of the Bank of Italy, has urged the country's banks to increase their capital ratios to shore up confidence in the financial sector.
Central banks join the flight to quality
The financial turmoil has had a major impact on central banks' reserve-management policies.
South Africa's Mnyande: no time to sit and wait
Strengthening southern Africa's ability to prevent future crises is vital, Monde Mnyande, the chief economist of the South African Reserve Bank, has warned.
Bric economies call for greater voice
Brazil, China, Russia and India, the four leading emerging-market economies, have pressed for a greater say in the running of the Bretton Woods institutions.
Bernanke admits Fed failed in regulatory role
Ben Bernanke, the chairman of the Federal Reserve, has acknowledged that the central bank could have done a better job in preventing the financial crisis.
Serbia seeks more IMF, EU aid
Serbia is in talks with the International Monetary Fund (IMF) and the European Union (EU) to secure more emergency funding to bolster its reserve stockpile and limit the social impact of the crisis.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.
Basel, IADI issue deposit insurance guidelines
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers (IADI) has issued a set of global guidelines for deposit guarantee systems.
China concerned over Treasury holdings
Wen Jiabao, China's prime minister, has said that the country, which has the biggest stockpile of United States government debt in the world, is "a little worried" about its US Treasury holdings.
Basel Committee, FSF expand membership
The Basel Committee on Banking Supervision and the Financial Stability Forum (FSF) have expanded to include a host of emerging-market economies.
De Larosiere, Dodge to lead new global watchdog
Jacques de Larosiere and David Dodge are to head a private-sector-sponsored international monitoring group tasked with assessing risk and fostering stability.
Chile makes mammoth rate cut
The Central Bank of Chile chopped 250 basis points off its key rate on Thursday, saying that it expected inflation to slide speedily.
BoE's Barker confident on quantitative easing
Increasing the money supply is a significant move that will prop up the economy, said Kate Barker, a member of the Bank of England's Monetary Policy Committee.