News
Economy not policy accounts for differences: King
The marked contrast in the responses of the Federal Reserve, the Bank of England and the European Central Bank to the credit crunch is down to divergences in the economic conditions facing each central bank rather than policy stances, Mervyn King, the…
Regulator admits culpability for Rock run
The Financial Services Authority (FSA), Britain's financial supervisor, has said it failed to adequately regulate Northern Rock, the now state-owned UK mortgage lender.
ECB's Trichet calls for culture of transparency
Jean-Claude Trichet, the president of the European Central Bank, urged global financial regulators to create a more transparent and less cyclical economic order in the wake of the subprime crisis.
Romania raises rates to 9.5%
The National Bank of Romania hiked rates by half a percentage point for the third straight month as inflation hit 8%.
Estonia's Ross urges fiscal caution
Tallinn must pursue a frugal fiscal policy to ensure it meets the Maastricht criteria for euro adoption, said Marten Ross, a deputy governor at the Bank of Estonia.
Iceland makes emergency hike as krona plummets
The Central Bank of Iceland raised rates by a massive 125 basis points to 15% on Tuesday 25 March, little over a fortnight before its next scheduled rate-setting meeting.
Costs rise for dollar loans despite $50bn auction
The Federal Reserve's latest Term Auction Facility operation failed to quell rising interbank tensions as money-market rates for one-month dollar loans climbed on Tuesday 25 March.
Israeli rates hit record low with half-point cut
The Bank of Israel cut its base rate to a new low of 3.25% on Monday 24 March.
Research deputy to replace Poole at St Louis Fed
James Bullard, the deputy director of research for monetary analysis at the St Louis Federal Reserve, will replace William Poole as the president of the central bank.
Mauritian key rate down to 8.5%
The Bank of Mauritius chopped half a point off its benchmark repo rate on Monday 24 March.
Bank's extra cash to stay in system until April
The Bank of England said on Thursday 20 March that it would carry over the emergency £5 billion ($10 billion) injection made on Monday until just before its next rate-setting meeting.
Pension plans could limit Greek independence: ECB
The European Central Bank (ECB) has spoken out against the plans to reform Greece's pension system, which sparked a strike at the country's central bank earlier this month.
FSA to launch probe as Bank counters HBOS rumours
The British financial regulator has confirmed that it is to investigate share dealing made on the back of rumours that HBOS, a British bank, was short of liquidity. The Bank of England has also taken the highly unusual step of calling the British press…
South African politicians want say on rate votes
Lawmakers have called on the South African Reserve Bank to take their opinions into account when setting rates.
Turkey keeps rates on hold
The Central Bank of Turkey has left rates unchanged for the first time in seven months.
Japan without a governor as Fukui steps down
Political squabbling has left the Bank of Japan leaderless at a time of heightened global uncertainty.
April rate cut more likely on back of BoE minutes
Market expectations of an April rate cut rose after the publication of the minutes of the Bank of England's latest Monetary Policy Committee meeting.
Nepalese governor found guilty of corruption
Bijaya Nath Bhattarai, the governor of the Nepal Rastra Bank, has been found guilty of corruption and sacked, media reports said on Wednesday 19 March.
Global warming to exacerbate price pressures
Christian Noyer, the governor of the Banque de France has warned that climate change is set to compound inflationary pressures.
Georgia holds rates at 11%
The National Bank of Georgia on Wednesday 19 March kept rates on hold, after hiking by a full percentage point last month.
Japanese opposition likely to reject nominee
As Toshihiko Fukui prepares to step down on Wednesday 19 March, a rudderless Bank of Japan looked a near certainty after the Democratic Party of Japan, the country's main opposition party, indicated it would veto the government's latest choice for…
UK inflation jumps to 2.5%
British inflation rose by 0.3 percentage points in the year to February, an increase that was widely expected after the Bank of England said last month that price growth was set to accelerate over the next quarter. Changes to the way in which the measure…
Overnight rate unchanged despite BoE injection
The Bank of England's attempt to lower sterling short-term interbank borrowing costs by adding £5 billion ($10 billion) to the money markets looks to have failed.
Reserve ratio up as Zhou hints at PBC hike
The People's Bank of China on Wednesday 18 March demanded that banks hold more cash in its coffers as Zhou Xiaochuan, the governor of the central bank, indicated rate rises were likely.