News
Fed rate board to get more time to talk
The Federal Open Market Committee's (FOMC) policy meetings for the rest of 2009 will take place over two days to allow more time to discuss the ills of the US economy.
Pakistan calls for second IMF loan
Islamabad is to ask the International Monetary Fund (IMF) for a second multi-billion dollar loan to temper the impact of its counter-terrorism measures on its already-fragile economy. News of Pakistan's request follows the Fund's announcement on Friday…
Look to Stockholm for bailout tips: Cleveland Fed
A Cleveland Federal Reserve study has urged officials to follow Sweden's lead in resolving the financial crisis.
Canada backs IMF as global regulator
Jim Flaherty, the Canadian finance minister, said that, rather than a new watchdog, the International Monetary Fund (IMF) should oversee international bank regulation.
Chile slashes rates to 4.75%
The Central Bank of Chile confounded market expectations by reducing the cost of borrowing by a full two-and-half- percentage points on Thursday.
Fisher gets markets job
Paul Fisher has been appointed as the new executive director for markets of the Bank of England. Fisher will start in his role on 1 March and will also sit on the monetary policy committee (MPC).
Egypt sees first cut for nearly three years
The Central Bank of Egypt cut interest rates for the first time since April 2006 on Thursday.
Fed to undergo "thorough review" of communication
Don Kohn, the vice-chairman of the Federal Reserve, will lead a committee to look at how much the central bank releases about its lending policies.
Carney sees "muted" 3.8% recovery in 2010
In testimony before parliament earlier this week, Mark Carney, the governor of the Bank of Canada, described the Bank's expectation of a 3.8% recovery in real GDP growth in 2010 as "muted".
Sri Lanka lowers rates as inflation falls
Sri Lanka's policymaking Monetary Board cut rates at its regular monthly meeting this week as figures showed inflation had moved into a rapid decline.
World Bank finds extra board seat for Africa
Sub-Saharan Africa will gain a seat at the Executive Board of the World Bank and developing countries voting power in the bank will be raised to 44% as part of governance reforms approved by the Bank's governing board.
Korea cuts again
The Bank of Korea has slashed interest rates for the sixth time in four months, bringing the cost of borrowing to a record low of 2% and suggesting that further cuts could be in store.
Mexico's Ortiz: crisis demanded FX strategy shift
The Bank of Mexico had to directly intervene in foreign-exchange markets for the first time for more than a decade earlier this month because of the severity of the impact of the crisis on currency trading, Guillermo Ortiz, the governor of the Bank of…
City regulator resigns after furore
Sir James Crosby has resigned as deputy chairman of the Financial Services Authority (FSA) in Britain, following allegations that he sacked a senior risk manager at HBOS, a bank Crosby headed, who raised concerns over the risk exposure of the bank.
King presents gloomy outlook
The Bank of England has revised its forecast for growth in the British down sharply and says the recovery will depend "to a significant extent on developments in the rest of the world where a severe economic downturn has taken hold."
Zim's Gono turns on rand anchor
The governor of the Reserve Bank of Zimbabwe, Gideon Gono, has been quoted as welcoming the idea of pegging the country currency to South Africa's rand.
Reactions to Tarp 2
Initial reaction on the new financial industry bailout plans announced on Tuesday, suggest that investors and observers are underwhelmed by the lack of details available at this stage and fear that the measures will continue to fall short of the…
Asian crisis, culture sparked imbalances: Zhou
The Asian financial crisis and a number of cultural factors triggered the build up in global imbalances seen as the underlying cause of the current crisis, Zhou Xiaochuan, the governor of the People's Bank of China, has said.
Geithner unveils sweeping Tarp overhaul
Timothy Geithner, the secretary of the US Treasury, has announced plans to take up to $500 billion in bad assets off the books of struggling banks and expand the Federal Reserve's programme to support asset-backed securities to $1 trillion from the…
Gono denies rand adoption plans - report
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has reportedly denied that the inflation-ravaged country is considering the adoption of the South African rand as its currency.
Bank Negara drafting new law - Zeti
Bank Negara Malaysia is drafting a new central bank law to go to parliament, said Dr Zeti Akhtar Aziz, the governor, in a speech at a conference to celebrate the institution's 50th birthday.
What to look for in Tarp II
Tim Geithner, the US Secretary of the Treasury, has delayed unveiling the plans for the next steps in administration's financial bailout programme until Tuesday. Here is a summary of the new steps that could be announced tomorrow.
Embattled Oddsson goes on the offensive
David Oddsson, the under-fire chairman of the board of governors at the Central Bank of Iceland, hit back at a letter sent last week by the prime minister calling for him to resign.
Fed still has weapons - Yellen
Janet Yellen, the president of the Federal Reserve Bank of San Francisco, says the Fed still has weapons left in its arsenal to address a "severely depressed" economy.