News
Kenya leaves rates at 8.75%
The Central Bank of Kenya's rate-setting committee voted on Thursday to hold the benchmark Central Bank Rate at 8.75%.
Officials praise central bankers' collaboration
Central bankers and politicians across the globe offered swift and unanimous approval for Wednesday's concerted effort to inject liquidity in a bid to counter dogged interbank tensions.
Joint effort failing to counter interbank tension
Interbank rates stayed high and markets plummeted on Thursday in spite of the collective action launched by five of the most powerful central banks on Wednesday.
Chinese monetary policy "influenced by US cuts"
Zhou Xiaochuan, the governor the People's Bank of China, said that the recent rate cuts by the Federal Reserve, together with rising domestic consumer prices, would have "considerable influence" over Chinese monetary policy.
UAE governor wants to stay on
Reports that Sultan Nasser al-Suweidi, the governor of the Central Bank of the UAE, was planning to step down when his four-year term ends next week, to be replaced by Saeed Mubarak Rashid al-Hajeri, chairman of Abu Dhabi Commercial Bank, have been…
Russia to trade on stock exchanges
The Russian government has passed a law which will permit the Central Bank of Russia to trade securities on the over-the-counter market and on stock exchanges.
Central banks collaborate to ease interbank woe
In one of the most significant co-operative central banking efforts of modern times, five of the world's most powerful monetary authorities joined forces in a bid to restore order in the interbank markets.
Yngve Slyngstad new head of Norway's SWF
Yngve Slyngstad will take over from Knut Kjr as head of Norges Bank Investment Management, which looks after the Global Pension Fund, Norway's sovereign wealth fund.
Zhou parries calls for imbalances adjustment
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank would not allow for a faster appreciation of the renminbi to reduce global imbalances.
Norway raises rates by 25 basis points
The Central Bank of Norway's rate-setting executive board voted on Wednesday to increase its benchmark sight deposit rate by a quarter of a percentage point to 5.25%.
Riksbank appoints new financial stability deputy
Lars Frisell is set to become the new deputy head of the financial stability department at the Riksbank in mid-December.
US-style scheme could have stopped Rock run
A US-style deposit insurance scheme would have been a "real help" in halting the run on Northern Rock, Britain's chief regulator said on Tuesday.
Padoa-Schioppa urges haste on EU supervision
Europe must act decisively to enhance its supervisory structures, said Tommaso Padoa-Schioppa, Italy's economy and finance minister, on Tuesday.
SWFs would follow private equity guidelines
Sovereign wealth funds would be willing to enter into the voluntary code of conduct set out in the Walker Review, an influential report on private equity governance standards and transparency, the author says.
Chinese inflation surpasses previous peak
China's inflation accelerated further in November after matching the 11-year peak reached in August the previous month.
Fed opts for quarter-point cut
The Federal Reserve's rate-setting Federal Open Market Committee (FOMC) voted on Tuesday to cut rates by 25 basis points to 4.25%.
UBS reveals $10 billion subprime loss
UBS, a bank, said on Monday that it would write down $10 billion-worth of subprime losses, the second largest amount revealed so far. The bank also said it could make a loss for the financial year because of its subprime liabilities.
Canada spells out SWF requirements
The Canadian government will block investment by state-owned enterprises, such as sovereign wealth funds, unless corporate governance and commercial standards are adhered to.
GIC could get 9% UBS stake from $9.8 billion loan
The Government of Singapore Investment Corporation (GIC), a sovereign wealth fund, on Monday said that its Sfr11 billion ($9.8 billion) investment in UBS, the bank, could lead to it acquiring as much as a 9% stake in the company.
Finland's Liikanen warns of dual threat
Erkki Liikanen, the governor of the Bank of Finland, said on Monday that the downside risks to growth have risen and inflation was set to accelerate.
Cyprus holds rates at 4.5%
The Central Bank of Cyprus's rate-setting monetary policy committee voted on Monday to keep its benchmark rate at 4.5% in its last scheduled decision.
UK cut does little to alleviate interbank tension
Sterling interbank borrowing costs fell only slightly in response to the Bank of England's 25 basis point rate cut on Thursday, indicating that the cut did little to alleviate liquidity tensions.
SEC's Cox warns on SWF state ownership
The fundamental question on sovereign wealth funds does not concern the advisability of foreign ownership, but rather of government ownership, says Christopher Cox, the head of the Securities and Exchanges Commission (SEC).
Indonesia cuts rates unexpectedly
Bank Indonesia's rate-setting board surprised markets on Thursday by lowering its benchmark rate by 25 basis points to 8%.