News
Chances of big cut diminish on Bernanke testimony
Market predictions of another cut to the federal funds rate of at least 50 basis points looked far from certain, following comments from Ben Bernanke, the chairman of the Federal Reserve.
US Treasury warns SWF rules could cause backlash
David McCormick, the US Treasury's undersecretary for foreign affairs, has said that rules forcing sovereign wealth funds to be more transparent could backfire.
Iceland holds rates at 13.75%
The Central Bank of Iceland has kept rates at 13.75% in spite of a poorer inflation outlook.
Korea keeps rates at 5%
The Bank of Korea opted to hold rates for the sixth straight month in the face of rising inflation.
IMF head wants harmonisation of collateral rules
Dominique Strauss-Kahn, the managing director of the International Monetary Fund, has called on central banks to coordinate policy on open-market operations.
Riksbank surprises markets with rate hike
The Riksbank confounded expectations on Wednesday by hiking rates to 4.25%.
Old Lady stays cautious in latest Inflation Report
The Bank of England maintained its delicate balancing act between emphasising the upside risks to inflation and signalling that it still has room to cut rates in its latest Inflation Report, published Wednesday 13 February.
Emerging markets set to suffer, says IMF head
Dominique Strauss-Kahn, the managing director of the International Monetary Fund, has said that the turmoil in the US subprime market will affect emerging market growth.
Philippines's Tetangco warns on inflation risks
Prospects of further rate cuts in the Philippines dimmed after Amando Tetangco, the governor of the central bank, highlighted risks to the inflation outlook.
Uncertainty clouds possible Muto appointment
Japan's ruling party have denied reports that they are set to nominate Toshiro Muto, a deputy governor at the Bank of Japan, to replace Toshihiko Fukui, the departing governor.
UK inflation creeps higher
British CPI inflation edged further above the Bank of England's 2% target in January.
G7 ministers discuss IMF gold sales
"There was an acceptance among the G7 that resources should be raised by selling gold," said Tomasso Padoa-Schioppa, Italy's finance minister, who is also the head of the International Monetary Fund's (IMF) steering committee (IMFC).
Indonesia's Abdullah to step down in May
Burnahuddin Abdullah, the governor of Bank Indonesia, has said that he does not want to serve a second term at the central bank.
Demand for Fed money up in latest auction facility
Results of the latest Term Auction Facility operation reveal a slight rise in demand for Federal Reserve funds.
Subprime writedowns could total $400 billion: G7
Central bankers and finance ministers from the group of seven most powerful economies now believe subprime-related writedowns could far exceed previous estimates, Peer Steinbruck, Germany's finance minister, revealed.
Liquidity pressures could return, says FSF report
Money-market tensions could yet re-emerge, a group of leading central bankers and policymakers warned on Monday.
Chances of rate cut fall on UK inflation data
Further monetary loosening in Britain looked less likely after factory-gate inflation hit its highest level since 1991.
Further rate hikes to come, says RBA
The Reserve Bank of Australia has signalled its intention to raise rates.
Cutting rates a mistake, says Israel's Fischer
Stanley Fischer, the governor of the Bank of Israel, has rebuffed calls to lower rates, saying inflation was too high to warrant a cut.
Bernanke admits concern over monolines
The threat of a downgrade to some of the biggest monoline insurers impacting the banking industry is forcing the Federal Reserve to monitor developments closely, a letter from Ben Bernanke, the chairman of the Federal Reserve, reveals.
Kenya can rise again, says central bank governor
The violence precipitated by elections late last year is a setback from which the Kenyan economy can recover, said Njuguna Ndung'u, the governor of the central bank.
Punchbowl didn't need re-spiking: Fed's Fisher
Using a barrel of alcohol-related comparisons, Richard Fisher, the president of the Dallas Federal Reserve, explained why he was the only member of the Federal Open Market Committee not to back the recent 50 basis point cut.
Chile holds rates at 6.25%
Concern regarding the global outlook has prompted the Central Bank of Chile to leave rates unchanged in spite of concern over inflation.
World Bank poll less pessimistic than IMF outlook
Financial turmoil is likely to have a relatively small impact on the global outlook, the World Bank's optimistic Global Economic Prospects finds.