News
BIS starts Americas council
The Bank for International Settlements (BIS) has established a forum aimed at facilitating debate between the Basel-based institution and policymakers in the Americas.
Zimbabwe prints Z$250m note
The Reserve Bank of Zimbabwe will circulate two notes worth Z$100m and Z$250m in an attempt to limit the impact of hyperinflation.
Greece's Garganas to step down
Nicholas Garganas, the governor of the Bank of Greece, will retire when his first term ends in June.
Fed moves to protect borrowers
The Federal Reserve has proposed a raft of measures to clamp down on unscrupulous lenders and strengthen consumer rights.
Russia dismisses rouble speculation
The Central Bank of Russia moved to quash rumours of a revaluation of the rouble on Tuesday.
World Bank appoints SA anti-corruption head
Leonard McCarthy, the chief of South Africa's highly-regarded anti-corruption unit, will head the World Bank's institutional integrity department.
Romania hikes for fourth-straight month
The National Bank of Romania has hiked rates by a quarter-point to a fresh three-year high despite the central bank's governor claiming less than a fortnight ago that rates were high enough.
Central banks announce third wave of joint action
In a clear message that the credit crisis is far from over, three leading central banks announced a further series of liquidity injections in a bid to restore money market spreads to normal levels.
Group set up to work on SWF code
Sovereign wealth funds and International Monetary Fund officials have set up a working group to design a voluntary code of conduct due out later this year.
SNB blames Q1 loss on FX markets
The appreciation of the Swiss franc has led the country's central bank to incur a Sfr3.97 billion ($3.76 billion) loss in the first quarter of 2008.
Fund directors lead exodus
The International Monetary Fund has conducted the first in a series of directorial reshuffles after six senior managers opted for voluntary redundancy.
A book launch to remember
One of those events that London does so well took place Thursday, 1 May, at the London School of Economics (LSE) where there was a short debate and a longer drinks party to launch 'Global Financial Regulation - The Essential Guide', written by Howard…
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
Give Canadian CB more say on collateral: Carney
Mark Carney, the governor of the Bank of Canada, urged lawmakers to allow the central bank to broaden its list of eligible collateral to alleviate money-market tensions.
OECD inflation hits 3.5%
CPI inflation in the 30 member economies of the Organisation of Economic Co-operation and Development (OECD) rose to 3.5% in the year to March, up from 3.4% the previous month.
UK told to tighten supervision in territories
A group of British lawmakers has called on the government to improve financial supervision in several of its overseas territories.
Stop storing coins, says Solomon Islands CB
The Central Bank of the Solomon Islands has called on citizens to swap their coins for notes rather than hoarding them - a practice which has led to a shortage.
Japan lowers growth forecast
The Bank of Japan has chopped more than half a point off its growth estimate for 2008 and warned that in a highly uncertain climate, downside risks to the economy could further limit expansion.
IMF redundancy offer oversubscribed
The International Monetary Fund's bid to cut its workforce by 13% by offering voluntary redundancy packages has led to over 20% of employees asking to leave.
Sri Lanka reacts as inflation hits record high
The Central Bank of Sri Lanka has lowered its reserve money targets in a bid to curb rampant inflation which soared to an all-time high in the year to April.
Saudi to set up $5.3 billion wealth fund
Saudi Arabia is in the final stages of launching its first sovereign wealth fund.
Fed cuts to 2%
The Federal Open Market Committee (FOMC) lowered rates by a quarter point on Wednesday.
IMF governors pass reform measures
The vast majority of the International Monetary Fund's (IMF) governing board has backed a raft of reforms that will see emerging markets have a greater say in how the organisation is run.
OMO changes must temper money-market woe: King
Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.