News
SA expected to continue easing after 100bps
The South African Reserve Bank acted in line with market expectations on Thursday by cutting 100 basis points off its main rate - a move which it is now forecast to repeat in May after the governor signalled the economy was in recession.
Israel at odds with major bank over CEO role
The Bank of Israel has criticised the state's second-largest bank for the lender's hasty appointment of a new chief executive.
Trichet says shush on possible new tools
Jean-Claude Trichet, the president of the European Central Bank (ECB), has said that the Governing Council's omerta on interest rates a week before meetings must be extended to include possible additional tools that may be announced next Thursday.
Rate pledge already benefiting us: Canada's Carney
Mark Carney, the governor of the Bank of Canada, has said that the central bank's unprecedented promise to hold rates at record lows until at least June 2010 was already having a positive effect on credit conditions in Canada.
Fed stress tests may reveal need for more capital
Shares in Citi and Bank of America, two of the United States's biggest banks, were hit on Tuesday after reports emerged that the Federal Reserve would require them to hold more capital as a result of the central bank's stress tests.
More transparency on Maiden Lane
The New York Federal Reserve on Wednesday disclosed further details of the assets held as collateral for the central bank's loans to Bear Stearns, a now-defunct investment bank, and American International Group (AIG), a beleaguered insurer.
Banks right to lend cautiously: BoE's Barker
The British government's strategy of encouraging British banks to lend received a setback on Wednesday after Kate Barker, a member of the Bank of England's Monetary Policy Committee (MPC), said that she could understand their reluctance to lend.
Singapore warns on swine flu
Singapore's central bank said on Wednesday that swine flu will exacerbate the already severe downturn being felt by south-east Asia's most open economy.
Nigeria signs pact to host African central bank
Africa has moved another step closer to establishing a continental central bank after Nigerian lawmakers and African Union officials signed a memorandum of understanding to house the regional hub in Abuja, the country's capital.
Iceland's Oddsson says he did spot flaws
David Oddsson, the former governor of the Central Bank of Iceland who presided over the country's financial meltdown, has said he did warn of the dangers posed by the country's over-reliance on the banking sector.
FDIC's Bair condemns too big to fail
The idea of banks being too big to fail should be consigned to history, Sheila Bair, the head of the Federal Deposit Insurance Corporation (FDIC), the American regulator, has said.
Malaysia steps up liberalisation agenda
Bank Negara Malaysia on Monday announced a raft of measures to further liberalise the country's financial markets.
DSK notes discord on exit strategies
Public officials are divided on how best to abandon crisis-fighting policies once economies recover, Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), has said.
Geithner NY Fed diaries made public
The daily schedule of Tim Geithner, the US treasury secretary, during the final two years of his stint at the helm of the New York Fed has been released into the public domain.
Beijing steps up calls for global monetary reform
Chinese officials reiterated calls for the reform of the international monetary order over the weekend.
ECB council members signal May cut
Two of the members of the European Central Bank's (ECB) Governing Council have signalled that the central bank will cut again next month and may introduce further measures to soothe credit conditions.
Bank publishes first QE quarterly
Quantitative easing by the Bank of England has succeeded in reducing gilt yields, and narrowing spreads on commercial paper and corporate bonds, but the Bank on Monday cautioned that it will take some time to determine the full effect of its purchases.
Swiss economy to take 3% hit - SNB's Roth
Jean-Pierre Roth, chairman of the Swiss National Bank, has said that GDP this year is expected to contract by 3%, suggesting a less severe recession than in Germany or the United Kingdom.
Fed reveals Maiden Lane assets
In a bid to enhance transparency, and in doing so appease anger on the Hill, the Federal Reserve on Thursday released information about the assets it holds of American International Group (AIG), the beleaguered insurer, and Bear Stearns, a now-defunct…
ECB wants more info on collateral - report
The European Central Bank (ECB) could toughen up its collateral rules by forcing banks to disclose more detail about the instruments provided in return for the Frankfurt-based institution's funds, say reports.
EU devises new rules for rating agencies
The European Parliament on Thursday approved a batch of rules aimed at enhancing the transparency and performance of credit rating agencies, under fire for their role in the crisis.
China stockpiling gold
China has increased its gold reserves by 76% since 2003, said Hu Xiaolian, a vice president of People's Bank of China and the administrator of the State Administration of Foreign Exchange, on Friday.
Canada suffers record contraction
Canada's GDP contracted by an annualised rate of 7.3% in the first quarter of 2009, the fastest rate on record, according to the Bank of Canada.
China's economy on the up: central banker
Record lending by commercial banks and improved liquidity in the first quarter of 2009 suggests end-2008 marked a turning point in China's economic fortunes, said Yi Gang, deputy governor of the People's Bank of China.