News
Norwegian oil fund hit hard by crunch
The crisis in global financial markets has led Norway's Government Pension Fund to record its largest ever quarterly loss in the three months to September.
Fed's Warsh mooted as Geithner's successor
Kevin Warsh, a governor of the Federal Reserve, has been tipped to succeed Tim Geithner at the helm of the New York Fed.
US authorities shore up Citi
Washington will invest $20 billion and insure up to $306 billion-worth of distressed assets in a bid to shore up confidence in Citi, the world's biggest bank.
Saudi cuts rates, boosts liquidity
The Saudi Arabian Monetary Agency made a fresh bid to boost the health of its ailing banking industry on Sunday.
Malaysia acts on signs of slowdown
Bank Negara Malaysia on Monday cut its key rate after keeping borrowing costs on hold for more than two and a half years.
Fed's Bullard sounds knell on rate moves
With the effective federal funds rate trailing the Fed's target by more than 60 basis points and interbank spreads for longer-term loans remaining well above pre-crisis levels, one of the regional Federal Reserve presidents has acknowledged further rate…
Price plunge won't herald deflation: ECB's Mersch
Though a fall in the price index at some point in 2009 is likely, such a slump should not be seen as a harbinger of deflation, Yves Mersch, the governor of the Central Bank of Luxembourg and a member of the European Central Bank's (ECB) Governing Council…
Caruana gets top job at BIS
Jaime Caruana, the director of the International Monetary Fund's (IMF) monetary and capital markets department, will succeed Malcolm Knight as general manager of the Bank for International Settlements (BIS).
Japan holds, warns recovery to "take some time"
The Bank of Japan left rates on hold at 0.3% on Friday and warned that the country's ailing economy was unlikely to recover soon.
SNB's Heller to head Basel payments committee
Daniel Heller, the head of the Swiss National Bank's financial stability and oversight section, will take over from Denis Beau, a deputy director general of Banque de France's economics and international relations department, as head of the secretariat…
Swiss shock with 100 basis-point cut
The Swiss National Bank (SNB) surprised markets on Thursday by slashing its rate-target band by a full percentage point on signs of a sharp slowdown.
Latvia looks to IMF and EU for support
Riga on Thursday said that it would seek aid from the European Union (EU) and International Monetary Fund (IMF) in a bid to stave off a financial meltdown.
FOMC members see US contraction next year
Almost a third of the members of the Federal Open Market Committee (FOMC) see the US economy shrinking in 2009, the rate-setting board's latest economic projections reveal.
Turkey changes tack and cuts rates
The Central Bank of Turkey has shifted its monetary policy stance and cut rates on signs of slowing growth and below-target inflation in the years to come.
Croatia counters liquidity tensions
The Croatian National Bank on Thursday cut its reserve requirement by three basis points in a bid to ease liquidity strains.
INTERVIEW: Raghuram Rajan
Raghuram Rajan, a professor at the University of Chicago and a former chief economist at the International Monetary Fund (IMF), talks to CentralBankNews.com about the future role of the Fund.
Bank could have cut by 200bp
Members of the Bank of England's Monetary Policy Committee, who shocked markets earlier this month when they slashed rates by 150 basis points, had considered an even bigger cut.
Trichet defends decision to keep minutes secret
Jean-Claude Trichet, the president of the European Central Bank (ECB), has defended the institution's decision to keep details of its monetary policy meetings under wraps, saying the publication of minutes could damage credibility.
Fed's Kohn unconvinced rates should burst bubbles
The Federal Reserve's vice-chair believes it is still wrong for monetary policy to aim at bursting asset price bubbles despite events since last summer.
Kuwait enhances operations to restore liquidity
The Central Bank of Kuwait on Wednesday has launched new open-market operations in a fresh bid to shore up liquidity.
Governors to sit on UN regulatory reform panel
The governors of the Malaysian and Nigerian central banks and a former head of the Reserve Bank of India will form part of a UN task force to look into reform of the global financial system.
Paulson blames lack of time for Tarp u-turn
The US Treasury reneged on its earlier promise to buy banks' distressed assets because it ran out of time, Hank Paulson, the US treasury secretary told Congress on Tuesday.
FSF and IMF agree differentiation of roles
The Financial Stability Forum (FSF) and the International Monetary Fund (IMF), two of the most prominent multilateral organisations, have moved to clarify their respective roles to prevent a tussle for greater regulatory power.
Public to blame for inflation: Zimbabwe's Gono
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has said the public are to blame for the country's bout of hyperinflation.