News
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.
BoE makes expected rate cut
The Bank of England's Monetary Policy Committee cut rates to 5.25%, as widely expected.
ECB holds rates, but hawkish tone goes
Jean-Claude Trichet, the president of the European Central Bank, revealed a shift to a more dovish outlook as the governing council held rates at 4% for the eighth straight month.
Bundesbank gets bigger supervisory role
The Bundesbank is poised to take broader responsibility for operational banking supervision in Germany after the central bank and BaFin, the country's financial regulator, agreed rules to clarify their supervisory roles.
ECB right but opaque, says report
The latest Monitoring the European Central Bank report, published on Thursday by the Centre for Economic Policy Research (CEPR), suggests that there is much room for improvement in the way the European Central Bank (ECB) sets interest rates and…
Czech Republic raises rates as inflation surges
The Czech National Bank's rate-setting board voted to raise its benchmark rate to 3.75%.
UK regulator wants above-inflation budget increase
The Financial Services Authority (FSA), Britain's beleaguered regulator, has asked the government for an extra £21.3m ($41.8m) for the 2008/ 2009 financial year.
Czech president approves potential replacements
Vaclav Klaus, the president of the Czech Republic, has said that two names suggested in the media as potential replacements for outgoing central bank deputy, Ludek Niedermayer, would be suitable candidates.
Indonesia holds rates
Bank Indonesia's rate-setting board voted on Wednesday to leave rates at 8% in an attempt to bring inflation within the 4-6% range set for 2008.
Danish governor criticises budget proposals
Niels Bernstein, the governor of the National Bank of Denmark, on Wednesday slammed the government's budget proposals as too expansionary given current conditions.
Coordination was unprecedented, says Goodhart
The joint action by five of the world's leading monetary authorities was a move unprecedented in central banking, said Charles Goodhart, a former member of the Bank of England's monetary policy committee.
Australia raises rates to fresh high
The Reserve Bank of Australia's rate-setting board voted to raise rates 25 basis points to 7%, their highest level in over 11 years.
Loan approvals down, conditions tighten: Fed poll
Borrowers in the US face rising costs and tougher conditions for loans, a survey published by the Federal Reserve on Monday shows.
Poland's Skrzypek wants ex-deputy in Pruski role
Slawomir Skrzypek, the president of the National Bank of Poland, has nominated Witold Koziski, an economics professor at Warsaw University and a former deputy president, to replace Jerzy Pruski, who quit last week.
Polish legality issue reveals law's flaws
Krzysztof Rybiski, a former deputy president of the National Bank of Poland, has said the arguments over the legality of organisational changes proposed by Slawomir Skrzypek show "serious flaws" in the design of the country's central bank act.
Sri Lankan inflation set to fall - Cabraal
Inflation in the Sri Lankan economy is set to moderate in the second half of this year, Nivard Cabraal, the governor of the central bank said.
Romania raises rates by 100 basis points
The National Bank of Romania surprised markets on Monday by raising its benchmark rate a full percentage point to 9%.
Skrzypek plans may damage credibility: Polish MPC
The National Bank of Poland's rate-setting council has said that organisational changes proposed by Slawomir Skrzypek, the president of the central bank, should be dropped while doubts remain over their legality.
Russia raises rates, ups reserve ratio
The Central Bank of Russia has hiked rates and its reserve ratio requirements in a bid to curb inflation.
EU will avoid downturn: Juncker
Europe will not follow the United States into recession said Jean-Claude Juncker, Luxembourg's prime minister and finance minister, on Monday.
Japan's Nukaga scuppers sovereign fund plans
Fukushiro Nukaga, Japan's finance minister, said last Friday that the government was unlikely to set up a sovereign wealth fund because of the risks associated with such a move.
Eurozone inflation hits record high
Eurozone inflation has climbed to its highest level since the European Central Bank was founded in 1999, an early estimate shows.
Fed to add another $60 billion in February
The Federal Reserve said on Friday that it will inject an extra $60 billion into the money markets through two term-auction facility operations.
Philippines lowers rates to 5%
The Central Bank of the Philippines's rate-setting monetary board on Thursday cut its key policy rate by a quarter-point to 5%.