News
Nigeria's Soludo to depart?
Charles Soludo, the governor of the Central Bank of Nigeria, is to leave after one term, reports suggest.
Hoenig moots Fed for bigger payments role
A lack of competition, concerns over integrity and the existence of externalities in the payments sector justify a greater role for the Federal Reserve in the industry, Thomas Hoenig, the president of the Kansas City Fed, has said.
BoJ notes signs of improvement
The Bank of Japan on Friday was relatively upbeat by recent standards about the country's economic prospects.
China should focus on gold not SDRs: Hanke
China would be better off promoting gold rather than special drawing rights (SDRs) as a global reserve currency, a prominent economist has argued.
Fed's Rosengren bets on slow recovery
The unusual features of the current recession point to a slow recovery, Eric Rosengren, the president of the Boston Federal Reserve, has said.
HKMA's new chief to face a pay cut?
The new head of the Hong Kong Monetary Authority (HKMA), which is to be Norman Chan, will have to take a substantial pay cut, sources said on Friday.
Markets fear US ratings downgrade: Pimco's Gross
The co-head of the world's biggest bond fund has said that that markets are beginning to price in the threat of the United States losing its triple-A rating, which he believes will eventually go.
Bank's Bean admits QE exit tricky
Charlie Bean, the deputy governor responsible for monetary policy at the Bank of England, has acknowledged that the execution of the Bank's exit strategy for quantitative easing will present the Monetary Policy Committee with a tricky judgment call.
UK placed on negative watch on debt fears
Britain's much-cherished triple-A rating was under threat on Thursday after Standard & Poor's, one of the big three ratings agencies, placed the country on negative watch.
Gulf monetary-union plans in tatters as UAE quits
The United Arab Emirates (UAE), the second largest economy in the Gulf, on Wednesday withdrew from plans for a regional monetary union, causing further consternation for the beleaguered project.
Greenspan: we're still on the edge
Alan Greenspan, a former chairman of the Federal Reserve, has warned that American banks need to raise a lot more capital before the financial crisis can end.
Ex-Brazil governor dismisses plan to ditch dollar
Gustavo Franco, a former governor of the Central Bank of Brazil, has said that proposals for China and Brazil to trade in renminbi and reals rather than dollars are "pure idle talk".
Fed wants to stay silent on borrower details
The Federal Reserve will continue to resist calls by lawmakers to name and shame the recipients of central bank aid, Federal Open Market Committee minutes suggest.
US set for new regulator?
The United States administration is considering setting up a regulator to oversee certain financial products, it emerged on Wednesday.
Firms must adapt to low growth: Bahrain's Al Maraj
Rasheed Al Maraj, the governor of the Central Bank of Bahrain, has said businesses and government will need to adjust to the reality of slower economic growth.
Fed aids Treasury in toxic-asset removal
To support the Treasury's plan to rid banks of toxic assets, the Federal Reserve on Tuesday said that it will take some mortgage-backed securities on to its books from July.
Basel Committee issues stress-test guidelines
The Basel Committee on Banking Supervision has produced a raft of measures for the sound governance, design and implementation of stress tests.
Sub-Saharan Africa faces severe slump, IMF warns
The International Monetary Fund warned on Tuesday that economies in sub-Saharan Africa were facing a "severe downturn" and called for a strong public-policy response both domestically and internationally.
Brazil and China planning link-up to ditch dollar
A Central Bank of Brazil official has said that trade between the country and China will be conducted in reals and renminbi rather than dollars.
HKMA's Yam confirms retirement
Joseph Yam, the chief executive of the Hong Kong Monetary Authority (HKMA), is to step down in October, it emerged on Tuesday.
Malaysian state sets up $5 billion SWF
Malaysia's oil-rich Terengganu state will establish a M$11 billion ($3 billion) ringgit sovereign wealth fund with a M$5 billion bond issuance later this week.
Minneapolis Fed puts downturn in perspective
The Minneapolis Federal Reserve has produced a series of charts comparing the current recession with other downturns in the United States in the post-war period.
BIS data show derivatives market contracting
The rapid growth of the derivatives market reversed in the wake of the collapse of now-defunct investment bank Lehman Brothers - an event which revealed the fragility of the industry - data from the Bank for International Settlements (BIS) out Tuesday…
Fed outsources in-house cheque images system
The Federal Reserve has decided to migrate its archive of cheque images to a private provider in an effort to reduce costs.