News
Fed spat over timeline for low rates
Target for federal funds rate kept at 0%-0.25% range until "at least" 2013; three committee members wanted ambiguous wording used on timescale
BoE offers gloomy UK growth outlook
Bank of England revises downward gross domestic product forecast for 2011 to 2% after “sluggish growth” outlook; governor Mervyn King says future commitment to low interest rates is not an option
Switzerland takes further action to weaken the franc
Swiss National Bank acts again to try and stem appreciation; says it remains poised to take further measures
Chinese inflation hits new high
The National Bureau of Statistics says consumer price inflation in China rose to 6.5% in July, its highest level since June 2008
Former Bank of Thailand deputy governor named finance minister
Thirachai Phuvanatnaranubala becomes new finance minister; served as deputy governor at central bank
Nigeria unveils payments system overhaul
Payments system faces complete overhaul in 2012; aim is to reduce reliance on cash
Bank Negara Malaysia deputy governor passes away
Mohd Razif bin Abd Kadir dies; served the central bank for 35 years
RBI governor Subbarao’s term extended
Prime minister approves two-year extension to Duvvuri Subbarao’s term as central bank chief
Fed’s international finance division director leaves
Nathan Sheets leaves the Federal Reserve after 18 years; Steven Kamin to step in as acting director
Bond markets rally as ECB moves on Italian and Spanish debt
Yields on Italian and Spanish debt fall as European Central Bank signals it will actively implement its bond purchase programme
Dollar falls on S&P downgrade
Standard and Poor’s makes unprecedented move by becoming the first ratings agency to downgrade the US credit rating; gold hits record high as dollar falls
Central Bank of Iran faces ‘crippling sanctions’ from US
US senators urge President Barack Obama to apply strict financial sanctions on Central Bank of Iran
Basel III charge could spur interest in CCDS
Development of CCDS could be pushed ahead by Basel III CVA charge, suggest market participants
Global equity markets tumble as euro area panic sets in
European sovereign debt crisis escalates as equity markets across the board record big losses
‘Now is the time’ for China to end dependency on dollar, says former official
Former member of the monetary policy committee of the Chinese central bank says China must end dependency on dollar; advises immediate renminbi ‘float’
Lagarde ‘perfectly calm’ about impending investigation
New managing director of the IMF is 'perfectly calm' at announcement of French investigation of abuse of powers during her time as finance minister
SNB devaluation attempt flounders as Swiss franc rebounds
Swiss franc claws back earlier losses after central bank intervenes to curb rise in currency
Reserve Bank of India's Rajagopalan dies
Shashi Rekha Rajagopalan, a member of the central board of directors of the Reserve Bank of India, passes away; Reserve Bank governor pays respects
Barroso calls on eurozone to speed up completion of EFSF legislation
European Commission president José Manuel Barroso says member states must accelerate implementation of EFSF reforms as eurozone sovereign debt crisis spreads beyond the periphery
ECB extends bank support as rates are held around the world
ECB to offer unlimited six-month credit to support banks; BoE continues gamble with inflation
Japan takes unilateral action to counter currency appreciation
Japanese government and central bank on Thursday move to weaken yen as country recovers from the earthquake and tsunami tragedies
IMF calls on UK to widen scope of resolution regimes
IMF says UK lawmakers should expand the scope of BoE's special resolution regime to include systemically important financial institutions
Chairman of the Russian Banking Supervision Committee to resign: reports
Gennady Melikyan has announced his intention to leave his role as chairman of the Russian Banking Supervision Committee, according to local media reports
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit ratings agencies cautiously affirm top ratings