News
CBK's Ndung'u flouted rules on hotel sale: report
An inquiry into the sale of a Nairobi hotel accuses Njuguna Ndung'u, the governor of the Central Bank of Kenya, of flouting procurement rules, local media has reported.
Kings of cash to get a new chief
James Hussey, a managing director at De La Rue, the world's biggest banknote printer, will take the helm at the firm in the new year.
Poland makes surprise cut on signs of slowdown
The National Bank of Poland cut rates for the first time in more than two-and-a-half years on fears that the global slowdown would hamper export demand.
China slashes rates
China chopped more than a percentage point off its lending rate on Wednesday in a further sign of Beijing's fears the global slowdown will spark a severe slump in export demand.
Egypt aims for Basel II adoption, ECB to assist
The Central Bank of Egypt took a step towards compliance with Basel II after agreeing to European Central Bank (ECB) support to strengthen its supervisory framework.
Ex-Fed's Volcker to head economic recovery group
Paul Volcker, a former chairman of the Federal Reserve, will head a new committee to foster growth and financial stability.
IMF's chief economist on the tasks ahead
Olivier Blanchard, the chief economist at the International Monetary Fund (IMF), has made public a detailed policy proposal issued to the heads of the G20 before their summit in Washington, DC earlier this month.
EU pledges €200 billion to spur growth
The European Commission unveiled a stimulus package worth the equivalent of 1.5% of European Union (EU) GDP on Wednesday in a bid to shore up economic activity.
We'll make the banks lend: King
Mervyn King, the governor of the Bank of England, on Tuesday indicated that the British authorities would take drastic action if banks continued to curtail lending.
Fed looks to boost lending by financing loans
The Federal Reserve on Tuesday looked to bolster bank lending by pledging to lend up to $200 billion against highly-rated securities backed by new consumer and business loans.
EBRD gives gloomy outlook on eastern Europe
Growth is set to falter across most of central and eastern Europe next year, with two of the three Baltic states likely to contract, the European Bank for Reconstruction and Development (EBRD), said on Tuesday.
Canadian deputy resigns
Sheryl Kennedy, a deputy governor at the Bank of Canada, is to leave the central bank next week.
Norwegian oil fund hit hard by crunch
The crisis in global financial markets has led Norway's Government Pension Fund to record its largest ever quarterly loss in the three months to September.
Fed's Warsh mooted as Geithner's successor
Kevin Warsh, a governor of the Federal Reserve, has been tipped to succeed Tim Geithner at the helm of the New York Fed.
US authorities shore up Citi
Washington will invest $20 billion and insure up to $306 billion-worth of distressed assets in a bid to shore up confidence in Citi, the world's biggest bank.
Saudi cuts rates, boosts liquidity
The Saudi Arabian Monetary Agency made a fresh bid to boost the health of its ailing banking industry on Sunday.
Malaysia acts on signs of slowdown
Bank Negara Malaysia on Monday cut its key rate after keeping borrowing costs on hold for more than two and a half years.
Fed's Bullard sounds knell on rate moves
With the effective federal funds rate trailing the Fed's target by more than 60 basis points and interbank spreads for longer-term loans remaining well above pre-crisis levels, one of the regional Federal Reserve presidents has acknowledged further rate…
Price plunge won't herald deflation: ECB's Mersch
Though a fall in the price index at some point in 2009 is likely, such a slump should not be seen as a harbinger of deflation, Yves Mersch, the governor of the Central Bank of Luxembourg and a member of the European Central Bank's (ECB) Governing Council…
Caruana gets top job at BIS
Jaime Caruana, the director of the International Monetary Fund's (IMF) monetary and capital markets department, will succeed Malcolm Knight as general manager of the Bank for International Settlements (BIS).
Japan holds, warns recovery to "take some time"
The Bank of Japan left rates on hold at 0.3% on Friday and warned that the country's ailing economy was unlikely to recover soon.
SNB's Heller to head Basel payments committee
Daniel Heller, the head of the Swiss National Bank's financial stability and oversight section, will take over from Denis Beau, a deputy director general of Banque de France's economics and international relations department, as head of the secretariat…
Swiss shock with 100 basis-point cut
The Swiss National Bank (SNB) surprised markets on Thursday by slashing its rate-target band by a full percentage point on signs of a sharp slowdown.
Latvia looks to IMF and EU for support
Riga on Thursday said that it would seek aid from the European Union (EU) and International Monetary Fund (IMF) in a bid to stave off a financial meltdown.