News
SA stats accused of overestimating inflation
South Africa's government statistics bureau is overestimating inflation by more than two percentage points, Investec, an asset management firm, has argued.
Swiss monetary framework a model of distinction
The Swiss National Bank's unique monetary policy model has allowed the real economy to escape the worst of the financial turmoil, says the International Monetary Fund (IMF).
SWFs scaling back dollar holdings, says FT
Sovereign wealth funds are reducing their dollar holdings, the Financial Times has reported.
Berlin calls off note-printer auction
The German government has abandoned plans to sell its federal printing works.
US inflation soars to 5%
The key measure of US annual inflation surged to its highest level since 1991 in June, figures out Wednesday reveal.
Czechs hit out after media ignores warning
The Czech National Bank on Wednesday attacked a leading Czech daily's decision to publish the financial information of its senior employees despite an earlier warning by the central bank.
Senator condemns Fed
A US Senator has attacked Federal Reserve policy and called on Washington to deprive the central bank of some of its rate-setting responsibility.
Ex-Polish PM to head IMF's European department
Marek Belka, a former Polish prime minister and finance minister, will become the new head of the International Monetary Fund's (IMF) European Department. He will be the first Central European to take the role.
US regulators issue guidance on Basel II
The four US regulators responsible for the Basel II framework have published final guidelines on how banks adopting the advanced approaches can best carry out the supervisory review process.
Canada holds rates, warns on inflation
The Bank of Canada on Tuesday opted to keep rates at 3% but warned inflation was set to soar above 4%, double the institution's target.
Olympic banknotes spark queues in Hong Kong
The release of special banknotes to mark the Beijing Olympics has prompted queues outside the Bank of China's Hong Kong branches.
Japan lowers growth forecast
The Bank of Japan has revised down its growth estimate for this year on the back of flagging business fixed investment and poor private consumption figures.
UK inflation surges to 16-year high
British headline inflation rose to 3.8% in the year to June, its highest level since 1992.
Fed tightens lending standards
The Federal Reserve on Monday approved a series of measures which it hopes will protect consumers against the sort of misleading lending practices considered partly responsible for the subprime crisis.
Fed will lend to Fannie and Freddie
The Federal Reserve has authorised the New York Federal Reserve to lend to Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that insure half of the US's home loans.
FDIC seizes Californian bank
The Federal Deposit Insurance Corporation (FDIC), a US regulator, has taken control of IndyMac, a California-based lender with total assets of $32 billion.
King declines bumper pay hike
Mervyn King, the governor of the Bank of England who has repeatedly called on UK employers to avoid hiking wages in line with rising inflation, has refused a salary increase that would have seen his pay soar by more than a third.
UAE speeds up cheque processing
The Central Bank of the UAE has introduced a new cheque-clearing system that will vastly reduce the time taken to process cheques.
UAE's Suwaidi wins fifth term
Sultan Bin Nasser al-Suwaidi, the governor of the Central Bank of the United Arab Emriates (UAE), will serve another four-year term.
Denmark bails out bank
The National Bank of Denmark has agreed to provide $158m-worth of emergency financing to Roskilde, a bank.
Kenya governor caught up in hotel probe
Njuguna Ndung'u, the governor of the Central Bank of Kenya, is reportedly facing allegations of defamation and has become embroiled in investigations into the controversial sale of a Nairobi Hotel.
Swiss regulator heeds calls for tougher rules
The Swiss Federal Banking Commission, the industry regulatory, has written to the country's two biggest banks to outline plans to enforce more stringent capital requirements.
Chile hikes by half a point
The Central Bank of Chile on Thursday raised its key rate half a point to 7.25% on the back of a deteriorating inflationary outlook.
Canada names special advisers
The Bank of Canada has appointed two economics professors as its special advisers on monetary policy for the coming year.