News
IMF governors pass reform measures
The vast majority of the International Monetary Fund's (IMF) governing board has backed a raft of reforms that will see emerging markets have a greater say in how the organisation is run.
OMO changes must temper money-market woe: King
Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.
UK counterfeit seizures fall for 3rd straight year
The number of counterfeit banknotes in circulation confiscated by the British authorities plummeted by almost a quarter last year. The total face value of counterfeit notes found also fell by a similar degree.
India warns on prices but keeps rates unchanged
The Reserve Bank of India held rates at its quarterly monetary policy meeting on Tuesday in spite of inflation reaching a three-year high in the weeks leading up the meeting.
Mauritius calls special meeting
The Bank of Mauritius will hold a special Monetary Policy Committee (MPC) meeting on 2 May, the central bank said on Tuesday.
Fed welcomes SWF investment
Scott Alvarez, the general counsel of the Federal Reserve, has told the US Senate that the central bank welcomed investments by foreign sovereign wealth funds in American banks and financial institutions.
Hackers sabotage Bank of Israel website
Computer hackers forced the temporary closure of the Bank of Israel's website late last week.
Probe into rumour-mongering widens
The Financial Services Authority (FSA) in Britain is teaming up with other financial services watchdogs as part of an expanding investigation into allegations of market abuses surrounding sudden drops in the share prices of financial institutions.
FSA appoints new senior adviser after Rock fiasco
The Financial Services Authority (FSA) in Britain has appointed Naguib Kheraj as senior adviser to the newly created Supervisory Enhancement Programme (SEP).
Interest rate gap too large, says France
Christine Lagarde, the French minister of finance, has issued a guarded warning to the European Central Bank (ECB) not to raise rates.
Philippines keep rates on hold
After implementing five cuts in the benchmark interest rate since July last year, the central bank of the Philippines kept interest rates unchanged at 5% on 24 April.
Russian central bank hints at broad tightening
Alexei Ulyukayev, the first deputy chairman of Russia's central bank, suggested on 22 April that monetary conditions may be tightened in the near future using a range of policy tools.
Big rate hike in Serbia
The National Bank of Serbia has raised its key policy rate to 15.25% from 14.5%. Radovan Jelasic, the governor of the central bank, said the move came in response to rising inflation, caused by growing salaries, record oil prices and political crisis.
Swiss join calls for bank pay reform
Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank, has urged a complete rethink of commercial banks' corporate governance and pay schedules in the wake of the credit crisis and recent trading scandals.
Rustamov explains Azerbaijani rate move
An increase in interest rates from 13% to 14% on 10 April will not have a direct impact on banks' rates, according Elman Rustamov, the chairman of the National Bank of Azerbaijan.
New Zealand softens stance
The Reserve Bank of New Zealand kept rates on hold for the eighth-straight month on Thursday but signalled it may cut in the second half of 2008.
PPI measure adds to SARB's woe
South African producer price inflation (PPI) soared by 2% in February, leaving the year-on-year measure at 11.8%, data published on Thursday showed.
Lehman creates new role to woo SWFs
Lehman Brothers, an investment bank, has appointed Makram Azar, formerly the head of its media, consumer and retail investment banking businesses in Europe and the Middle East, to the new position of global head of sovereign wealth funds.
Norway raises rates to 5.5%
The Bank of Norway raised rates for the first time this year on Thursday on fears that inflation was set to breach its 2.5% target.
Romanian rates high enough: governor
Mugur Isarescu, the governor of the National Bank of Romania, said on Wednesday that rates were high enough to tackle inflation.
SA inflation surpasses 10% mark
South African inflation surged to its highest level since December 2002 last month, heightening the need for the country's central bank to act against political opposition and raise rates further.
Banque de France posts record profit
The Banque de France's profit surged to a record high of €2.32 billion ($3.69 billion) last year.
Three-way split underlines Bank's dilemma
The Bank of England's April vote saw members of the Monetary Policy Committee (MPC) backing three separate options for the first time since May 2006, minutes of the meeting published on Wednesday reveal.
Australian inflation hits seven-year high
Australian inflation soared to its highest level since June 2001, raising expectations that the country's Reserve Bank will be forced to hike rates again next month.