News
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.
Fed opts for 75 basis-point cut
The Federal Open Market Committee (FOMC) on Wednesday 18 March voted to slash rates by three quarters of a percentage point to 2.25%.
Fed works over weekend to counter market stress
The Federal Reserve took its fourth emergency action in ten days on Sunday 16 March, cutting the rate at which it offers discount window funds and attempting to boost trading in securitisation markets.
Old Lady adds an extra £5bn
The Bank of England injected £5 billion ($10 billion) into the money markets on Monday 17 March after overnight interbank rates shot up on the back of Bear Stearns's collapse.
Beijing reappoints Zhou
After months of deliberation, the Chinese authorities on Monday approved the reappointment of Zhou Xiaochuan as governor of the People's Bank of China.
DSK praises central banks
The European Central Bank (ECB) and the US Federal Reserve received plaudits from Dominique Strauss-Kahn, the managing director of the International Monetary Fund, on Monday 17 March.
Fed credibility at risk, warn commentators
Economic commentators have largely slammed the raft of measures that the Federal Reserve has introduced over the past ten days.
Fed funds Bear Stearns on liquidity fears
The Federal Reserve on Friday 14 March agreed to provide emergency funding to Bear Stearns, a troubled investment bank.
SWFs a force for stability, says BoE's Gieve
Sovereign wealth fund investment will help temper volatility in equity markets, Sir John Gieve, the deputy governor at the Bank of England responsible for financial stability, said.
US should start a SWF: ex-Wyoming treasurer
The US should use its revenue from mineral reserves to start a sovereign wealth fund, said Cynthia Lummis, a former state treasurer for Wyoming, at Central Banking Publications' Sovereign Wealth Management conference.
UK inflation expectations surge to record high
The British public expects prices to rise by 3.3% over the next 12 months, their highest-ever estimate.
Chile keeps rates at six-year high
The Central Bank of Chile held rates at 6.25% for the second month in a row.
SWF transparency fosters talent: Norway's Kjaer
Sovereign wealth funds should be more open in order to attract the best staff, not to appease regulators, the former head of Norway's Government Pension Fund - the most transparent of the public-sector investors - has said.
Norway leaves rates unchanged
The Bank of Norway's Executive Board opted on Thursday 13 March to keep rates at 5.25% for the second consecutive vote.
SWFs present systemic risk, require rules
A code of conduct for sovereign wealth funds is essential given their systemic importance, senior officials from the US Treasury and the International Monetary Fund said on Thursday 13 March at Central Banking Publications' Sovereign Wealth Management…
Fed issues new $5 bill
The first of the Federal Reserve's redesigned $5 bills was used to buy a collection of former President Abraham Lincoln's speeches.
Swiss rate band remains fixed around 2.75%
The Swiss National Bank (SNB) will keep its target range for three-month interbank borrowing costs between 2.25% and 3.25% for the coming quarter.
Markets rise on back of joint action
Global equity markets have surged following five of the world's most powerful central banks' announcement of their latest coordinated initiative on Tuesday.
Japan should maintain policy stance, says Noda
The Bank of Japan should continue to gradually raise rates in line with improvements to economic growth, a member of the central bank's rate-setting board has said.
BoE's Tucker gets second term on MPC
Paul Tucker, the executive director for markets at the Bank of England, is to serve a further three-year term on the Monetary Policy Committee.
Inflation on course to hit target: NBP's Skrzypek
Polish inflation is still expected to return to target in the medium term, Slawomir Skrzypek, the governor of National Bank of Poland, said.