News
Auction shows massive demand for ECB cash
The European Central Bank's (ECB) first-ever auction of six-month loans was more than four times oversubscribed, indicating the high level of tension in the region's money markets.
New governor proposed for Bank Indonesia
Boediono, Indonesia's chief economics minister, has been nominated for the top job at the country's central bank.
Nigeria raises rates 50bp, flags further hikes
Nigeria's central bank raised rates to 10% and warned that policy would need to tighten in the future with "huge fiscal injections" expected.
UAE governor urges fiscal frugality
Sultan Bin Nasser Al-Suwaidi, the governor of the Central Bank of the United Arab Emirates, warned that inflation could accelerate further if the government failed to curb spending.
FSF to suggest radical solutions to turmoil
The Financial Stability Forum (FSF) is set to propose a series of unorthodox measures for fighting the credit crunch, say media reports.
Sri Lanka rebuts IMF report
The Central Bank of Sri Lanka has countered claims, made in an International Monetary Fund report, that poor decision-making has contributed to high inflation in the country.
Bank of Japan survey shows confidence on the wane
The Bank of Japan is likely to adopt a more dovish monetary policy stance and revise growth estimates downwards on the back of a poorer-than-expected Tankan survey.
Australia leaves rates at 12-year high
The Reserve Bank of Australia left rates at 7.25% - their highest level since April 2006.
Hungary raises rates by half a point
The National Bank of Hungary hiked rates by 50 basis points on Monday 31 March from 7.5% to 8%.
Major reforms in view for IMF
The Executive Board of the International Monetary Fund (IMF) has backed a resolution that would achieve a major change in the representation of many emerging countries as well as allowing poorer countries a bigger say in the way the Fund is run.
Treasury shake-up to grant Fed more power
The US Treasury has unveiled a series of recommendations for a major restructuring of financial services regulation, which will allot broad new powers to the Federal Reserve to attack systems risk, including the ability to send SWAT teams into any…
"Unscrupulous dealers" attacking Iceland's economy
David Oddsson, the chairman of the board of directors at the Central Bank of Iceland, suspects that "unscrupulous dealers" are trying to bring down the Icelandic financial system by circulating rumours about the country's bank and central government.
ECB in a quandary as inflation rises sharply
The European Union's statistics office said on Monday 31 March that consumer price inflation accelerated to 3.5% this month from 3.2% in February, the biggest rise since June 1992, further exacerbating the European Central Bank's (ECB) monetary policy…
China stands firm on monetary policy
The People's Bank of China said on Monday 31 March, after its first quarter monetary policy committee meeting, that it would maintain its firm attitude to monetary policy, using instruments "in a measured manner".
Panel considers political fallout of SWFs
Expert panel discuss “The politics of sovereign wealth funds” at Central Banking Publications’ first Sovereign Wealth Management conference in London in March 2008
ECB to add €150 billion as market rates creep up
The European Central Bank (ECB) is to conduct four extra open market operations in a bid to relieve interbank tensions.
Fed's Mishkin makes his point on inflation
In one of his strongest advocacies of inflation targeting since joining the Federal Reserve in 2006, Frederic Mishkin argued that countries should adopt a specific point objective for price stability rather than having a target range.
We need banking secrets to help: Fed's Rosengren
The Federal Reserve's regulatory role has been essential in allowing the central bank to deal with the current turmoil, a top official claimed on Friday.
Decade-high inflation will not impact BoJ policy
The Bank of Japan remains more likely to cut than hike rates this year despite inflation climbing to its highest level since the 1990s in February, according to analysts.
Fed's Stern ponders on asset-price stance
Gary Stern, the president of the Minneapolis Federal Reserve, has acknowledged that the central bank may need to review its policy of non-interference with asset prices in the wake of the recent turmoil.
Ethiopia makes arrests over fake gold scandal
Ethiopian anti-corruption officials arrested 26 people in connection with the discovery of 90 kilos of fake gold in the central bank's vaults.
SWF rules unnecessary: OECD chief
Angel Gurria, the secretary general of the OECD, has called on regulators to resist from unduly hampering sovereign investments.
South African inflation rockets to 9.4%
Soaring food and transport costs prompted South Africa's inflation rate to leap by more than half a percentage point in February.
Polish rate-setter hints at further hikes
A member of the National Bank of Poland's rate-setting board said he expected rates to surpass 6% following the decision to raise rates on Wednesday 26 March.