News
Beige Book backs up Bernanke comments
The Federal Reserve's Beige Book indicates the US manufacturing sector is passing on higher input costs to customers.
NZ counters payments-systems attack
The Reserve Bank of New Zealand has hit back at criticisms of the country's payments and settlements systems.
ECB's Stark hints at standalone hike in July
The European Central Bank looks likely to raise rates only in July rather than tighten policy on a series of occasions over the coming months.
Analysts see point hike from SARB
Ahead of Thursday's rate-setting meeting, observers expect the South African Reserve Bank to increase the cost of borrowing by 100 basis points taking rates to 12.5%.
Vietnam hikes rates, devalues dong
The State Bank of Vietnam's benchmark rate will soar two percentage points to 14% from Thursday in a bid to counter inflation, while the dong's value will plunge by almost 2%.
Euro-area deserves bigger regulatory role: Merkel
The eurozone's economic importance warrants the region more influence over financial markets regulation, said Angela Merkel, the chancellor of Germany.
Canada surprises markets with rate hold
The Bank of Canada's decision to leave rates on hold shocked analysts expecting a 25 basis point cut.
Stronger stability framework a priority: King
Mervyn King, the governor of the Bank of England, has said that he wants to establish a sturdier financial stability framework during his second term.
Riksbank drops CPIX inflation measure
Barbro Wickman-Parak, the first deputy governor of the Riksbank, said on Monday that the central bank would phase out its use of the CPIX inflation measure.
GCC governors back regional CB plans
Central bank governors in the gulf have taken a significant step towards monetary union, backing the creation of a regional central bank.
Indonesia to target overnight rate
The Bank of Indonesia is looking to enhance its liquidity provision by targeting an overnight interbank rate close to its benchmark rate.
China raises reserve ratio full percentage point
The People's Bank of China upped its reserve requirement ratio by 100 basis points for the first time this year in a fresh bid to cool its overheating economy.
Investment banks must face same rules: Geithner
Timothy Geithner, the president of the New York Federal Reserve who played a key role in the Bear Stearns bailout, has said the major investment banks must be regulated in the same way as their commercial peers.
Russia raises rates unexpectedly
The Central Bank of Russia lifted its key refinancing rate by a quarter point to 10.75% for the third time this year on Monday.
UK PPI hits fresh high, Bank may look to hike
Chances that the Bank of England's next rate change will be a rise rather than a cut rose on Monday after government data revealed a surge in factory-gate inflation.
Brazil may fast-track SWF law
Brazil's finance minister on Monday said that the country will set up a sovereign wealth fund in spite of recent reports that the country's president may reject the plans.
Fed faces quandary after jobless rate surges
The Federal Open Market Committee (FOMC) may have to make another rate cut later this month after unemployment shot up at its fastest rate for 22 years.
City bankers set for stability role
A team of City of London bankers could support the Bank of England's efforts to foster financial stability, Alistair Darling, the chancellor, said Thursday.
Moral hazard talk reveals Fed divide
Comments from regional Federal Reserve presidents have underlined a Federal Open Market Committee (FOMC) split over the central bank's support of Wall Street, particularly its bailout of Bear Stearns.
Crunch set to have radical shift on reserve trends
Central bankers are acknowledging that the credit crunch is set to have a major impact on their reserve management policies.
Central bank action could lead to inflation
Thomas Jordan, a member of the Swiss National Bank's governing board, has warned that central banks' response to the credit crunch could precipitate inflation.
Trichet steps up inflation rhetoric, hints at hike
Jean-Claude Trichet, the president of the European Central Bank, indicated that the institution's governing council could raise rates as soon as next month despite continuing turmoil in financial markets.
Ikeo gets the nod as Japanese opposition folds
Kazuhito Ikeo, an economics professor, will join the Bank of Japan's Monetary Policy Council after the country's main opposition party decided to revoke its earlier rejection of his nomination.
Chinese fund to invest $7.4bn in private equity
A Chinese sovereign fund could invest as much as $7.4 billion in the private equity industry.