News
Fed signals support for superfund
A Federal Reserve official has said that the proposed $75 billion mortgage-securities superfund will help investors and credit markets.
Dodge's comments lead to temporary loonie fall
The Canadian dollar fell against its US counterpart on Monday, after David Dodge, the governor of the Bank of Canada, said that domestic conditions were unrelated to the loonie's recent "abnormally quick" rise against the greenback.
Kenyan central bank set to monitor telecoms IPO
The Kenyan government has handed the Central Bank of Kenya the task of ensuring that the initial public offering (IPO) of Safaricom, the country's leading mobile phone firm, does not adversely impact the financial system.
Vietnam government calls on CB to stabilise dong
Nguyen Sinh Hung, Vietnam's deputy prime minister, has asked the State Bank of Vietnam to stabilise the value of the dong currency against the dollar.
Define your mission, Paulson advises IMF and Bank
Hank Paulson, the US Treasury Secretary, said that international financial institutions need to better define their core missions, and align staff and other resources accordingly, if they are to remain relevant.
De Rato's final speech presents gloomy outlook
Rodrigo de Rato, the outgoing managing director of the International Monetary Fund, said on Monday that the recent banking crisis has exposed weaknesses and will hamper growth in the coming years.
China fights back over G7 currency criticisms
Wu Xiaoling, the deputy governor of the People's Bank of China, said the country's current policy on the appreciation of the renminbi was a responsible one despite claims to the contrary by the world's leading finance ministers.
Superfund will hamper pricing, Greenspan warns
Alan Greenspan, the former chairman of the Federal Reserve, has said that the $75 billion mortgage securities superfund, backed by Citigroup, JP Morgan Chase and Bank of America, could do more harm than good.
IMF and World Bank issue joint action plan
The International Monetary Fund and the World Bank said on Friday that they are to launch a joint action management plan.
Strong dollar message "very important": Trichet
Jean-Claude Trichet, the president of the European Central Bank, said it was "very important" that the US underlined its message that a strong dollar was in the US national interest.
Politics force Sierra Leonean governor out
Samura Kamara, an International Monetary Fund executive and a former finance ministry official, has replaced James Rogers as the governor of the Bank of Sierra Leone, a public relations officer told Central Bank News on Friday.
Greenback now worth a million Zimbabwean dollars
A single US dollar is now said to be worth 1 million of its Zimbabwean counterparts on the black market.
Chinese inflation eases from 11-year high
Chinese inflation fell slightly in September to 6.2%, after hitting an 11-year high of 6.5% in August.
Northern Rock's BoE debt rises to £16 billion
Northern Rock has borrowed a further £3 billion ($6.1 billion) from the Bank of England this week, the Bank's balance sheet reveals.
Japan's Muto reiterates commitment to tightening
The Bank of Japan will raise rates as the economy improves and inflation picks up Toshiro Muto, a deputy governor at the Bank of Japan said on Friday.
Brazil holds rates at record low
The Central Bank of Brazil decided to keep its benchmark Selic rate at 11.25% today as growth and inflation accelerated. It is the first time in 18 meetings that the central bank has voted against a rate cut.
Fed speculation prompts new dollar-euro low
The dollar fell to a record $1.432 against the euro on Thursday as poor macroeconomic data and results from one of the US's biggest banks prompted futures traders to speculate that the Federal Reserve will cut rates.
Principles-based rules to stay, says UK regulator
Hector Sants, the chief executive of the Financial Services Authority (FSA), said that the regulator remained committed to its principles-based approach.
India's Reddy on factors set to hamper growth
Y.V. Reddy, the governor of the Reserve Bank of India, said on Thursday that a skills shortage and inadequate infrastructure will curb India's impressive growth record.
Howard calls on RBA to focus on growth
John Howard, the Australian prime minister preparing for an election in November, put pressure on the Reserve Bank of Australia to maintain economic growth.
Crisis "clouds growth prospects", says IMF
The International Monetary Fund (IMF) has revised its estimates for global growth in 2008 down by almost half a percentage point.
Turkey lowers rates for second consecutive month
The Central Bank of Turkey slashed its benchmark rate by 50 basis points following September's surprise quarter-point cut.
New executive director at the Netherlands Bank
Joanne Kellermann will join the governing board of the Netherlands Bank on 1 November.
Russian central bank supports bond market
Sergey Ignatiev, the governor of the Central Bank of Russia, has said the central bank bought R46 billion-worth ($1.84 billion) of federal government bonds in September to ease tension in the banking sector.