News
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.
Commodity price rises don't spur core inflation
Spikes in commodity prices have tended to have a muted impact on core inflation in recent years, a paper published in the latest of the Bank for International Settlements' Quarterly Review has found.
Rate cuts won't work properly: BoJ's Shirakawa
Masaaki Shirakawa, the governor of the Bank of Japan, has indicated that monetary policy's role in alleviating current conditions is likely to be limited.
Crisis traverses financial system: HKMA's Yam
The boundaries of the global credit crunch go beyond the markets, with the falls in house prices sparking significant slumps in aggregate demand, said Joseph Yam, the chief executive of the Hong Kong Monetary Authority.
BoE's Gieve states case for global action
Ever-more frequent global policy co-ordination will be essential in avoiding future financial crises, Sir John Gieve, the deputy governor responsible for financial stability at the Bank of England, has said.
Hungary continues reversal of drastic hike
The National Bank of Hungary took another step towards reversing its 300 basis-point October hike on Monday, cutting its key rate by a half point.
World Bank governance head to step down
Daniel Kaufmann, the director of global programmes and governance at the World Bank, is to take up a post at the Brookings Institution, a Washington, DC-based think tank.
Nigerian FX markets stall on intervention hopes
Nigeria's foreign exchange markets froze on Tuesday as banks waited to see if the central bank would intervene to halt the naira's fall.
BI surprises with quarter-point cut
Bank Indonesia surprised markets on Thursday with a 25-basis-point cut in its bank rate that boosted local markets.
Lithuania, Turkey in talks with IMF
Lithuania and Turkey have both confirmed that they are in talks with the International Monetary Fund (IMF) about possible loans.
Bernanke urges action on mortgages
Ben Bernanke, the chairman of the Federal Reserve, has called for an acceleration of efforts to stem a rising tide of home foreclosures.
Watchdog raps TARP management
A congressional watchdog has found the US Treasury wanting on a number of issues related to management and oversight of the $700 billion bailout plan known as the Troubled Asset Relief Program (TARP).
Iceland pledges to restart FX market
The Central Bank of Iceland pledged to restore the foreign-exchange market in the country, naming three banks as market makers.
Bank cuts to historic low
The Bank of England cut interest rates to their lowest level since 1951 on Thursday and stressed that further steps would be needed to prevent a deep recession.
Bumper day for cuts, three slash by record margin
The European Central Bank (ECB), the Riksbank and the Reserve Bank of New Zealand backed the biggest rate cuts in their history on Thursday, highlighting the pace at which the threat of a global depression has risen.
Thailand slashes rates on "significant change"
The Bank of Thailand made its biggest-ever rate cut on Wednesday, sparked by what it termed a significant change in the economic environment.