News
Old Lady begins quantitative easing
The Bank of England began its first round of gilt purchases on Wednesday, buying £2 billion ($2.8 billion) of the instruments outright in an attempt to boost the money supply.
AIG cutting costs, Bernanke assures senator
Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to…
NY Fed names new senior VP for cash and custody
James Narron is the new senior vice president responsible for the cash and custody function at the New York Federal Reserve.
Zambia asks IMF for help to boost reserves
Zambia is in talks with the International Monetary Fund (IMF) for loans of about $200m to help bolster its foreign-currency stockpile.
IMF sees global economy shrinking in 2009
The world economy is set to shrink in 2009, the head of the International Monetary Fund (IMF), said on Tuesday.
Bernanke moots Fed for systemic-risk role
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday called for the Fed to be involved in "some capacity" in monitoring system-wide threats to financial markets. His comments came as part of a raft of proposals to overhaul regulation in America…
BoJ may need to buy shares: ex-deputy Muto
Toshiro Muto, a former deputy governor of the Bank of Japan who was in the running to succeed Toshihiko Fukui as head of the central bank, has admitted that the central bank may need to bolster the country's leading stock index.
Bundesbank makes biggest profit since 2001
The Bundesbank posted €6.3 billion ($8 billion) profit last year, it emerged on Tuesday.
MNB responds to forint sell-off
The Hungarian National Bank said it is prepared to use all the policy tools available to defend the forint, which came under pressure on foreign exchange markets last week.
SEC to revamp whistleblower procedures
The Securities and Exchange Commission (SEC), the US stock-market regulator, has announced a sweeping review of the way it handles whistleblower complaints and tip-offs.
Tory report backs greater BoE role
A report commissioned by the opposition Conservative Party in the United Kingdom has suggested that the tripartite system for financial stability, involving the Bank of England, the Treasury and the Financial Services Authority (FSA) has failed and…
De Grauwe fears beggar-thy-neighbour policies
A lack of coordination between the world's leading central banks in the current crisis raises concerns over a return to beggar-thy-neighbour policies, a leading European economist has argued.
Failure to see big picture fuelled boom: IMF
An inability by officials to see the "big picture threat" of a growing asset-price boom was a key cause of the current crisis, the International Monetary Fund (IMF) said on Friday.
Russia bans SWFs from holding US agency debt
Moscow has banned its sovereign wealth funds from holding US agency debt, declaring the paper too illiquid.
Nordic crunch's key lesson: avoid party politics
The Nordic credit crisis in the 1990s revealed that a united stance by politicians is crucial in averting a financial meltdown, the head of the Bank of Finland's research department has said.
Poland not seeking IMF support: Skrzypek
Slawomir Skrzypek, the governor of the National Bank of Poland, has confirmed that the country will not require International Monetary Fund (IMF) financing.
China's Zhou promises rapid action if needed
Zhou Xiaochuan, the governor of the People's Bank of China, has pledged to act speedily and forcefully to prevent a slump in confidence during the financial crisis.
ECB books €2.7 billion surplus
The European Central Bank (ECB) earned a surplus of €2.66 billion ($3.34 billion) last year on the back of the euro's appreciation against the dollar and the yen, it emerged on Thursday. The central bank also revealed that it was owed €10.3 billion by…
Bank begins £150 billion money-supply boost
The Bank of England on Thursday said it would boost the money supply by up to £150 billion ($211 billion) in a bid to revive the health of Britain's ailing economy. The Bank's Monetary Policy Committee also cut rates to a fresh all-time low of 0.5%.
India makes fresh attempt to spur growth
The Reserve Bank of India announced a fresh round of rate cuts on Wednesday aimed at restoring the health of its ailing economy.
It's his way or the highway for Bernanke
Ben Bernanke, the chairman of the Federal Reserve, will travel to his hometown of Dillon, South Carolina, over the weekend to see an interchange renamed in his honour.
ICE's CDS clearing plan gets Fed's approval
The Fed has accepted a bid by ICE Trust - an amalgam of an exchange operator, a provider of clearing services and eight banks - to run a central counterparty and clearing house for the global credit-default-swap (CDS) market.
Swiss central bank books $4 billion loss
The Swiss National Bank was Sfr4.7 billion ($4 billion) in the red for 2008, it emerged on Wednesday.
CEE regulators condemn stability "misperceptions"
Six central and eastern European regulators on Wednesday jointly attacked the recent coverage of their economies, labelling it misleading, oversimplified and potentially harmful.