News
Romania hikes rates to 8%
The National Bank of Romania's rate-setting board on Monday voted to raise the benchmark monetary policy rate by 50 basis points to 8%.
India's central bank cuts again
The Reserve Bank of India cut rates by a percentage point for the second time in less than a month and eased deposit requirements for commercial banks in a bid to limit the impact of the financial crisis.
UK chancellor outlines regulatory changes
In a bid to prevent another Northern Rock, Alistair Darling, Britain's chancellor of the exchequer, has pledged to make the government ultimately responsible for actions to counter banking crises.
Gono explains decision to renege on note change
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has blamed the weather for backtracking on plans to take the Z$200,000 ($6.67) note out of circulation.
Al-Wazir starts as Palestine governor
Jihad Al-Wazir began his term as governor of the Palestine Monetary Authority on Tuesday after Mahmoud Abbas, Palestine's president, approved the appointment on Sunday.
Euro makes rapid progress in Cyprus and Malta
Euro banknotes already account for 50% of the total in circulation in both Malta and Cyprus, the two Mediterranean islands that adopted the single currency on Tuesday.
Finland's new board member to head research group
Seppo Honkapohja, the latest addition to the Bank of Finland's board, is taking charge of the central bank's research activities.
Fed minutes reveal clear shift in outlook
The minutes of the December meeting of the Federal Open Market Committee (FOMC), published on Wednesday, reveal a more dovish Federal Reserve than was suggested at the time.
BoE credit survey shows crunch impacting lending
The Bank of England's credit conditions survey, published on Thursday, signalled a marked decline in lending to households and businesses towards the end of 2007.
China names two central bank vice governors
The People's Bank of China announced the appointment of two vice governors on Thursday, Yi Gang and Ma Delun.
Venezuelan inflation shoots up to 22.5%
The Central Bank of Venezuela said on Wednesday that inflation in the metropolitan area of Caracas, the country's capital, hit 22.5% in 2007, the highest official rate in Latin America.
ECB could hike rates, says Orphanides
The European Central Bank's rate-setting governing council will not rule out raising interest rates, Athanasios Orphanides, a member of the council and governor of the Central Bank of Cyprus, said on Thursday.
Kuwaiti SWF could be next to invest on Wall Street
Bader Al-Sa'ad, the head of Kuwait Investment Authority, the state's sovereign wealth fund, indicated that his could be the next fund to inject funds into a finance industry clawing for capital in the aftermath of the subprime crisis.
Venezuela lops zeros off bolivar to curb inflation
Venezuela revamped the bolivar on Tuesday by slashing three zeros from the currency in a bid to dampen rampant inflation, which hit 20.7% in the 12 months to November.
China to name Ma Delun as vice governor
The People's Bank of China is set to appoint Ma Delun as vice governor of the central bank, local media reports said on Wednesday.
Interbank rates plummet as year-end passes
Pressure on the banking industry eased on Wednesday with spreads between money market and central banks' benchmark interest rates narrowing as the end-of-year liquidity panic passed. The falls indicate that the central banks' efforts to alleviate some of…
Cyprus and Malta join eurozone
The eurozone became a little larger on Tuesday as Cyprus and Malta, two Mediterranean islands, adopted the single currency.
Time has proved us right, says Trichet
The European Central Bank's (ECB) decision to inject hundreds of billions of extra euros into the money markets to alleviate tensions looks to be the correct one, says Jean-Claude Trichet, the president of the central bank.
Journalist defends Old Lady's "low morale" claims
Irwin Stelzer, the journalist who wrote last week that a senior Bank of England official had said the British chancellor and prime minister were blocking changes to banking regulation because of low morale, has described it as "a pity" that Mervyn King,…
Singapore SWF could invest $5 billion in US bank
Temasek, the Singapore finance ministry's sovereign wealth fund, could be the latest fund to cash in on Wall Street's subprime losses by injecting as much as $5 billion into Merrill Lynch in exchange for what could amount to a 10% stake in the American…
Fed to conduct auctions for "as long as necessary"
The Federal Reserve said on Friday it will continue to run Term Auction Facility auctions twice a month "for as long as necessary to address elevated pressures in short-term funding markets."
Cyprus cuts rates before eurozone entry
The Central Bank of Cyprus's rate-setting board on Friday unexpectedly slashed rates by 50 basis points to 4% to match the European Central Bank's benchmark rate.
Interbank rates edge down again
Money market tensions eased further on Friday, signalling that the joint action announced by five of the most powerful central banks last week is having some impact in narrowing spreads between interbank and central banks' benchmark rates.
UBS shareholders uneasy with SWF investment
Shareholders at UBS, the Swiss bank, are threatening a revolt over capital injections worth Sfr 13 billion ($11.2 billion) from two sovereign wealth funds.