News
Rapid deterioration led Fed to go it alone: Kohn
The deterioration in money markets was so rapid that the Federal Reserve last Friday did not have time to coordinate a joint announcement of liquidity measures with other central banks in the same way as last December and which had such a favourable…
Trichet notes exchange-rate instability fears
Jean-Claude Trichet, the president of the European Central Bank (ECB), has acknowledged that he is concerned about exchange rate volatility given the current value of the euro.
Former NY Fed director to succeed White at BIS
Stephen Cecchetti, a former director of research at the New York Federal Reserve, is the new head of the Bank for International Settlements' (BIS) monetary and economics department.
Vietnam extends dong band to curb inflation
The State Bank of Vietnam widened the dong's trading band on Monday 10 March in a bid to counter double-digit inflation.
Taiwan set to raise rates
Fai-Nan Perng, the governor of the Central Bank of China (Taiwan), has told the country's parliament that he will carry on hiking rates to dampen inflationary pressures.
Fed to add funds as liquidity pressures re-emerge
The Federal Reserve is set to pledge up to $140 billion in extra funds in a bid to soothe the third wave of rising money market tensions since August.
Japanese government backs Muto for governor
Yasuo Fukuda, Japan's prime minister, on Friday 7 March nominated deputy governor Toshiro Muto to replace Toshihiko Fukui at the helm of the central bank despite fears that the country's main opposition party will reject the nomination.
Brazil bank robber gets 49 years
The leader of a gang that stole $67.8m from the Central Bank of Brazil has been sentenced to almost half a century in jail.
Japan maintains 0.5% target as Fukui steps down
The Bank of Japan opted to keep rates on hold for the 15th straight vote.
Greek strike ruled illegal
A court ruled the walkout at the Central Bank of Greece illegal.
BoE holds rates at 5.25%
The Bank of England has opted to keep rates on hold, as expected, following last month's cut and relatively favourable data on growth.
Near-term cut unlikely as ECB takes neutral tone
Jean-Claude Trichet, the president of the European Central Bank (ECB), signalled that the governing council is unlikely to back a rate cut in the coming months.
UK business leader warns against rushing reform
The British authorities must beware of hurrying through seismic supervisory changes in the wake of the run on Northern Rock, the head of the UK's biggest business lobby has warned.
ECB reveals executive board salaries
In keeping with their inflation-fighting mandate, senior staff at the ECB gave themselves a 2% pay rise last year.
Morocco set to fast-track FX reform
Abdellatif Jouahri, the governor of the Central Bank of Morocco, has hinted that the dirham could move to a floating exchange rate regime early than previously thought.
New Zealand holds rates at 8.25%
The Reserve Bank of New Zealand kept rates unchanged for the seventh straight month.
EU's Barroso notes concern over euro's strength
Jose Manuel Barroso, the president of the European Commission, has acknowledged that the euro is now worryingly strong.
Bank Indonesia investigation officer arrested
Indonesian anti-corruption officials have arrested a prosecutor investigating allegations of misuse of central bank funds on suspicion of bribery.
Interbank rates creep up in Europe
Money market tensions are showing signs of re-emergence, with interbank rates hitting levels not seen since mid-January for euro and sterling borrowing.
Czech's Tuma predicts currency depreciation
Zdenek Tuma, the governor of the Czech National Bank, has said that he expects recent gains in the koruna to be corrected.
UK government attacked for dithering on Rock sale
The UK government came in for more criticism over its handling of the Northern Rock crisis on Wednesday 5 March, when Peter Hitchens, the leader of PricewaterhouseCoopers's UK banking and capital markets practice, said it had wasted a lot of time…
Ex-governor knocks RBA as rates hit 12-year high
Bernie Fraser, a former governor of the Reserve Bank of Australia, has spoken out against the decision to raise rates to a fresh 12-year high.
Canada chops half a point off rates
The Bank of Canada has cut rates by 50 basis points to 3.5% amid fears of a more severe slowdown in the US.
Central banks to review liquidity rules
Central banks are collectively considering alterations to the provision of emergency liquidity, Paul Tucker, the executive director responsible for markets at the Bank of England, said at a conference organised by the Financial Markets Group of the…