News
Ireland announces €10bn bank bailout
The government of Ireland pledged up to €10bn for recapitalising ailing banks in a bid to encourage lending and limit the damage on the real economy.
Fingers pointed at SEC in Madoff affair
The Securities and Exchange Commission (SEC), a leading American regulator, is under fire for failing to spot alleged investment fraud by Bernard Madoff.
IMF to cut growth forecast
The International Monetary Fund (IMF) will cut its forecast for growth in the global economy in 2009, its managing director said.
BoE survey confirms household squeeze
The results of a survey of household finances, published on Monday by the Bank of England, finds that 71% of British homeowners and tenants have experienced declines in their disposable income in September compared with the same month last year.
Venezuelan governor passes away
The governor of the Central Bank of Venezuela, Gaston Parra Luzardo, died in hospital over the weekend. He was 75.
Economists call for European stabilisation fund
The absence of a single European debt market is holding the euro back as a reserve currency in a time of extreme risk aversion, argue Daniel Gros and Stefano Micossi.
Rouble's slide continues
The Russian central bank on Thursday allowed the rouble to depreciate further, as the drain on its foreign reserves continued unabated.
RBNZ to accept corporate debt
The Reserve Bank of New Zealand has announced a number of changes to its market operations, mostly significantly accepting domestic corporate securities as collateral for central bank loans. The paper must have a long-term credit rating of BBB- or higher.
China, Korea sign new swap line
Monetary authorities in China and South Korea have signed a new foreign-currency swap deal, the Chinese central bank announced on Friday.
Vietnam shuffles senior managers
The State Bank of Vietnam announced eight new senior managers in a major reshuffle at the central bank.
South Africa begins loosening cycle
The South African Reserve Bank has cut its key rate from a five-year high and indicated it has room to ease further in the coming months.
Fed floats bond issuance
The Federal Reserve is considering issuing its own bonds as a means to absorb the liquidity with which it has flooded markets as well as for fundraising purposes.
Swiss cut rates on gloomy growth forecast
The Swiss National Bank (SNB) has cut its benchmark target range by a further half a point and said that it expects the economy to contract by up to 1% next year.
Fiji launches "smaller, thinner, lighter" coins
The Reserve Bank of Fiji completed its currency reform with the unveiling of new 5, 10, 20, 50 cent and $1 coins at a ceremony on Thursday.
Senior PNG officials shift roles
The Bank of Papua New Guinea has altered its management structure in a bid to enhance efficiency.
NZ's Bollard tells business to pitch in
Alan Bollard, the governor of the Reserve Bank of New Zealand, on Wednesday urged businesses to cut prices so that the central bank can keep rates low.
Bank's City ambassador gets the nod for deputy
Paul Tucker, the executive director responsible for markets at the Bank of England, will replace Sir John Gieve as the deputy governor responsible for financial stability.
Fed "extremely reluctant" to bail out Detroit
Ben Bernanke, the chairman of the Federal Reserve, has indicated that the central bank would be extremely reluctant to prop up Detroit's ailing big-three car companies.
Bank Indonesia's Dutch arm bankrupt
Boediono, the governor of Bank Indonesia, has acknowledged that Indover, a unit of Indonesia's central bank based in the Netherlands, is heading for bankruptcy after a local court approved an application for receivership.
Mexican price spike compounds rate dilemma
Inflation jumped almost half a point in November to more than twice the Bank of Mexico's target adding to policymakers' woes ahead of the next rate decision slated for mid-January.
Canada in recession as rates cut to 50-year low
The possibility of a slump "broader and steeper than previously anticipated" sparked the Bank of Canada's decision to slash its key rate to its lowest level since 1958.
Ex-Fed staff divided on leaning against the wind
Four former senior Federal Reserve officials have offered four differing slants on one of the most hotly-debated topics in central banking.
Bankers get to put pressure on Bernanke & Co
An American company is giving Wall Street bankers the chance to squeeze Ben Bernanke, Alan Greenspan and Hank Paulson by immortalising the three figureheads of US finance in the form of stress balls.
India cuts to two-and-a-half year low
The Reserve Bank of India has slashed rates by 100 basis points in a bid to shore up rapidly flagging growth.