News
Bank cuts to historic low
The Bank of England cut interest rates to their lowest level since 1951 on Thursday and stressed that further steps would be needed to prevent a deep recession.
Bumper day for cuts, three slash by record margin
The European Central Bank (ECB), the Riksbank and the Reserve Bank of New Zealand backed the biggest rate cuts in their history on Thursday, highlighting the pace at which the threat of a global depression has risen.
Thailand slashes rates on "significant change"
The Bank of Thailand made its biggest-ever rate cut on Wednesday, sparked by what it termed a significant change in the economic environment.
Ex-NY Fed's Corrigan to head new Goldman wing?
Gerald Corrigan, a former head of the New York Federal Reserve, could be about to take the helm at Goldman Sachs's new bank holding company.
Ex-Bank director to lead offshore review
Michael Foot, a former executive director for supervision at the Bank of England, is to head a review of British offshore financial centres.
Zero rates the only way out: ex-MPC members
Central bankers and global regulators must throw out the rule book on moral hazard, and act rapidly and decisively to fix the global financial meltdown, former members of the Bank of England's Monetary Policy Committee have said.
A banker's take on the year to come
The financial crisis is set to escalate in the New Year and it is difficult to see a way out, Matt King, a credit strategist at Citi, a bank, has said.
Australia's point cut marks seven-year low
The Reserve Bank of Australia has slashed its key rate by a full percentage point to 4.25%, its lowest level since December 2001.
Bernanke signals shift to quantitative easing
Ben Bernanke, the chairman of the Federal Reserve, has hinted that the central bank will turn increasingly to its armoury of quantitative easing tools with its stock of rate cuts almost spent.
British PM denies UK close to joining euro
Gordon Brown, the British prime minister, has denied the UK plans to join the eurozone after the European Commission president said Britain was "closer than ever before" to adopting the single currency.
Former Austrian governor dies
Wolfgang Schmitz, a former president of the National Bank of Austria, has died at the age of 85.
Kenya cuts despite inflation's persistence
The Central Bank of Kenya cut its key rate to 8.5% and its cash reserve requirement by a full percentage point on signs of a slowdown on Monday but warned inflation remained a concern.
Shirakawa signals relaxation of collateral rules
Masaaki Shirakawa, the governor of the Bank of Japan, indicated on Monday that the central bank would soon relax its collateral rules as stress in markets for bank financing intensified.
Riksbank brings rate decision forward to Thursday
The Riksbank has opted to bring its rate decision forward a fortnight to this Thursday, coinciding with the European Central Bank's (ECB) and the Bank of England's votes.
New York Fed starts search for Geithner successor
The New York Federal Reserve has set up a panel to search for a successor to Tim Geithner, the current president of the central bank who was last week announced as the new treasury secretary.
UK "closer than ever" to euro adoption: EU head
Jose Manuel Barroso, the president of the European Commission, has said Britain is as near as it has ever been to joining the eurozone.
Mexico hints at cut on signs of slowdown
The Bank of Mexico kept rates on hold for the third straight month on Friday, but signalled it could soon cut.
Euro prices, jobs plunge, paving way for big cut
The chances of the European Central Bank's Governing Council making their biggest-ever cut next week rose on Friday after inflation plummeted to just above the central bank's target and unemployment rose.
Rate cuts not working: Riksbank's Nyberg
The impact of the Riksbank's rate cuts on the real economy has been weakened by a breakdown in the monetary transmission mechanism, Lars Nyberg, a deputy governor at the central bank, has said.
Basel Committee tackles fair-value rules
The Basel Committee on Banking Supervision has responded to the furore surrounding mark-to-market rules and published a consultative paper on fair-value practices.
Russia hikes to strengthen rouble
The Central Bank of Russia has raised its key rate by a full percentage point to a three-year high in a bid to shore up the battered rouble.
India to lend FX until July to counter stress
The Reserve Bank of India has agreed to support the overseas operations of its banks by providing three-month foreign-currency loans until next July.
Zimbabwe's Gono outlines vision for second term
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has detailed his vision for the Zimbabwean economy over the next five years after being granted a second term at the helm of the central bank.
Korea dips into Fed facility
The Bank of Korea is to tap the Federal Reserve for $4 billion as part of its $30 billion swap arrangement agreed at the end of last month.