News
London office for US regulator?
Christopher Cox, the chairman of the Securities and Exchange Commission (SEC), the chief regulator in the US, said it would select either London or Brussels for its European office, part of its strategy of building a closer relationship with its foreign…
Canadian dollar begins to slide
The Canadian dollar fell on Thursday from an all-time high as worries grew over the effect of the US subprime mortgage crisis on corporate profits and stocks slumped. Analysts said that the market was "definitely overextended".
Czech koruna may gain more than predicted
The koruna should appreciate by more than previously predicted, according to minutes from the 25 October board meeting of the Czech National Bank.
Polish cb says inflation rate will top target
Inflation will exceed its 2.5% target in 2007 and breach 3.5% by the second half of next year according to the National Bank of Poland's latest quarterly inflation outlook.
Strauss-Kahn takes over at IMF
Dominique Strauss-Kahn, France's former finance minister, began his five-year term at the International Monetary Fund (IMF) on Thursday. He acknowledged that he is taking over at a time when the Fund desperately needs reform and to reach out to emerging…
New Zealand adapts as regulatory role expands
The Reserve Bank of New Zealand said on Thursday that it would restructure its financial stability department in order to cope with the central bank's expanding role in maintaining the country's financial system.
Dollar at all-time low against euro after Fed cut
The greenback reached a record low against the euro following the Federal Open Market Committee's decision to cut rates by 25 basis points. At its peak, the euro was worth 1.4504 against the dollar on Thursday.
ECB faces hard choices as inflation hits 2.6%
Inflation in the euro area rose to 2.6% in October - half a percentage point higher than in September, according to statistics published by the Eurostat, the EU statistics office.
Iceland makes surprise rate hike
The Central Bank of Iceland's rate-setting board unexpectedly decided on Thursday to raise its benchmark policy rate by 45 basis points to 13.75%.
Japan holds rates for eighth consecutive month
The Bank of Japan's rate-setting board has kept the target for the benchmark uncollateralised overnight call rate at 0.5%.
Sweden hikes rates to highest level in five years
The Riksbank's rate-setting board on Tuesday decided to raise rates for the fourth time this year by 25 basis points to 4%.
India increases reserve ratio to dampen inflation
The Reserve Bank of India has hiked its cash reserve ratio from 7% to 7.5% in an effort to curb inflation. The revised ratio, which was announced as part of its mid-term review of annual policy for the 2007/08 financial year, will apply from 10 November.
Norway leaves key rate at 5%
The Bank of Norway's executive board decided on Wednesday to keep its benchmark sight deposit rate at 5%.
Poland holds rates
The National Bank of Poland's rate-setting council decided to hold rates on Wednesday after data revealed economic growth will be slightly weaker than expected.
Fed cuts rates despite strong growth
The Federal Open Market Committee (FOMC) decided on Wednesday to cut the federal funds rate by 25 basis points to 4.5% in spite of better-than-expected economic growth for the third quarter.
Japan rate hike unlikely after unemployment rises
The Bank of Japan's plans to raise rates may have to be put on hold again after government data on Tuesday revealed a 0.2% increase in the unemployment rate.
UK regulator set to clamp down on hedge funds
The Financial Services Authority, the British financial regulator, said on Monday that it will formally assess hedge funds after an initial survey found market abuse prevention in some funds to be poor.
Pressure rising over currency, says China's Yi
The contrast between US and Chinese monetary policy is exacerbating the pressure on the People's Bank of China to allow the renminbi to appreciate.
Hong Kong and Malaysia look to reduce risk
The Hong Kong Monetary Authority and Bank Negara Malaysia looked to eliminate the settlement risk of US dollar bonds issued and traded in Malaysia with the launch of a payment link on Monday.
Hungary holds rates at 7.5%
The National Bank of Hungary's rate-setting board voted on Monday to keep its benchmark central bank base rate at 7.5%.
Israel leaves rates at 4%
The Bank of Israel's rate-setting board voted on Monday to hold its benchmark rate at 4%.
HKMA's Yam set for 2009 exit
Joseph Yam, the chief executive of the Hong Kong Monetary Authority, will step down in 2009 according to government sources.
Mexico unexpectedly hikes rates to 7.5%
The Bank of Mexico decided on Friday to raise its benchmark rate by 25 basis points.
Indonesian CB called on to aid corruption fight
Bank Indonesia is being pushed to join the fight to uncover accounts holding state funds that Mohamed Suharto, Indonesia's former president, is rumoured to have stolen.