News
Yuen named new HKMA deputy
Arthur Yuen succeeds Y.K. Choi as the Hong Kong Monetary Authority’s stability deputy in the new year
India moves to cut out counterfeiting
Reserve Bank of India proposes raft of measures to stamp out fake banknotes
Norwegian sovereign fund makes record gain
Government Pension Fund – Global records 12.7% return in the three months to March, its best ever quarterly result
SARB shocks markets with half-point cut
South African Reserve Bank surprises analysts expecting rate hold
France and Germany out of recession
Analysts taken by surprise as data show eurozone’s two largest economies returned to growth in the second quarter
Brazil president intervenes in monetary policy
Lula says further rate cuts “desirable”
Denmark cuts to halt krone rise
National Bank of Denmark lowers lending rate by a tenth of a percentage point. Iceland holds to promote appreciation
Fed action spurs market recovery
Federal Open Market Committee statement boosts wave of positive sentiment
Bank will consider cutting interest on reserves
Mervyn King says Bank of England will “certainly” look into lowering remuneration on reserves held in central bank coffers
FSA issues code on bank bonuses
UK Financial Services Authority releases rules on bankers’ remuneration policies
Ugandan auditor made acting deputy
Patrick Byabakama Kaberenge replaces David Opiokello
Serbia names new vice governor
Bojan Marković to join National Bank of Serbia in the autumn
Kozarić reappointed Bosnian governor
Kemal Kozarić to remain at the helm of the Central Bank of Bosnia and Herzegovina
Central banks expected to cut more staff
Survey respondents expect numbers to dwindle as central banks re-organise and outsource
Dubai to set up new Middle East payments system
Dubai enacts law to enable the establishment of real-time payments system for the Middle East and North Africa
S&P downgrades Latvia, Estonia
Latvia’s and Estonia’s long-term sovereign ratings downgraded, Lithuanian rating’s outlook put on negative watch
Ireland may break with past in selecting new governor
The crisis has hit Ireland hard. So hard that the finance minister may look outside the civil service for a successor to John Hurley
China sovereign fund publishes first annual report
China Investment Corporation reports negative rate of return for 2008 in first ever Annual Report
ECB consults on payment scheme oversight
Eurosystem publishes draft standards for assessing direct debit and credit transfer schemes
Bank expected to be downbeat on UK outlook
Bank of England rumoured to be bearish on growth and inflation in this week’s Inflation Report
Czech inflation sinks to six-year low
Figure hits 0.3% for year to July, the lowest since 2003
Russia cuts for fifth time in four months
Bank of Russia lowers policy rate by 25 basis points in effort to stimulate bank lending
China’s Su looks to clarify policy
Deputy Su Ning says People’s Bank of China will fine tune policy using open market operations
New ECB payments head to chair eurosystem committee
Daniela Russo to head Payment and Settlement Systems Committee as well as ECB department