News
Denmark slashes on back of ECB move
The National Bank of Denmark lopped three-quarters of a percentage point of its key rate on Thursday in response to the European Central Bank's (ECB) move.
Anti-Fed senator behind Geithner nomination block
Jim Bunning, a Republican politician who last year labelled the Federal Reserve "a leading cause of the mess we're in", is one of two senators attempting to block Tim Geithner becoming Treasury Secretary on Friday.
Academics advocate discretionary ECB supervision
European Union member states should be allowed to choose whether or not they want to be regulated by the European Central Bank (ECB), academics say.
Lacker pans Fed for risky "fiscal" action
A regional Federal Reserve president has warned that the recent expansion of the Fed's balance sheet is fraught with risks.
Thailand slashes rates, cites demand and exports
The Bank of Thailand surprised markets on Wednesday by slashing rates for the second month in a row on further signs of a slowdown.
Philadelphia Fed promotes five vice presidents
The Philadelphia Federal Reserve has promoted one of its staff to the role of executive vice president, two to the role of senior vice president, and two to vice presidential positions.
Bernanke revisits idea of toxic asset purchases
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday mooted several ways in which American authorities could remove toxic assets from banks' balance sheets. He also said that more capital injections and guarantees may be required to ensure…
Ex-MPC members offer solutions to crunch
A financial stability committee, a derivatives exchange and a pan-EU regulator were among the ideas suggested to stave off future credit crises by an influential group of British-based economists on Tuesday.
Mexico's Ortiz to replace Roth as BIS chair
Guillermo Ortiz, the governor of the Bank of Mexico, is to succeed Jean-Pierre Roth, the head of the Swiss National Bank, as the chairman of the Bank for International Settlements (BIS). He becomes the first governor from an emerging-market economy to…
Fed's Kroszner to step down later this month
Randall Kroszner, a governor at the Federal Reserve, will leave the institution on 21 January to return to academia.
Denmark publishes first lending survey
The National Bank of Denmark on Tuesday published its first-ever lending survey, covering the loan-making activities and policies of the country's banks and mortgage lenders.
Number of forged euro notes hits record high
The number of counterfeit euro banknotes seized soared by 13% in the second half of 2008, the European Central Bank (ECB) said on Monday.
Congo hikes rates to 55% as currency plunges
The Central Bank of Congo attempted to halt the depreciation of the CFA franc on Monday with a 15 percentage-point hike in its key rate to 55%.
Report prompts Ireland's chief regulator to quit
Patrick Neary, the chief executive of the Financial Services Regulatory Authority, will retire after a report condemned the organisation for its failings in a scandal involving one of the country's biggest banks.
Protect consumers with new measures, says HKMA
The Hong Kong Monetary Authority (HKMA) has urged banks to adopt a raft of new guidelines aimed at protecting consumers. The measures follow almost 20,000 thousand complaints about the mis-selling of Lehman Brothers-related products.
New York Fed names nine new vice presidents
The New York Federal Reserve has promoted three of its staff to the role of senior vice presidents and six to vice-presidential positions.
Chile surprises with one-point cut
The Central Bank of Chile surprised observers and markets with the size of the reduction in borrowing costs as data revealed that inflation plunged almost two percentage points in December.
Ireland's Hurley to stay on after term ends
The governor of Ireland's central bank, John Hurley, has agreed to stay on beyond the official end of his first seven-year term in March.
Korea denies renminbi reserves interest
The Bank of Korea has issued a strong denial in response to a story claiming the central bank had looked into but ultimately rejected shifting some of its reserves into renminbi.
Peru holds rates, eases reserve requirements
The board of the Central Reserve Bank of Peru held rates at 6.5% as inflation slowed but lowered reserve requirements by one percentage point in a bid to ease conditions for in for commercial banks.
UK rates hit all-time low
In a widely expected move, the Bank of England lowered its policy rate to 1.5%, the lowest in the institution's 300-year history.
Basel Committee to broaden implementation remit
The Basel Committee on Banking Supervision today announced that it is broadening the mandate of its Accord Implementation Group (AIG).
Tanzania looks into new notes
The Bank of Tanzania is looking into printing new banknotes barely five years after the previous series was introduced.
Latvia breached euro budget rules - central bank
Latvia's fiscal deficit for 2008 was in excess of the 3% Maastricht criterion for euro entry, the Bank of Latvia has said, taking issue with the government's figure of 2.8%.