News
Estonia delays euro entry
The Bank of Estonia has said that Estonia would not meet EU criteria for eurozone accession in the years 2008-2009 and thus would not be able to adopt the common currency in 2010.
Thailand holds rates
The Bank of Thailand decided Wednesday to keep its benchmark interest rate, the one day repurchase rate, at 3.25%.
Poland increases rates
The National Bank of Poland decided Wednesday to hike interest rates by a quarter despite inflation remaining below the central bank's target rate. The benchmark reference rate is now 4.75%.
Government bond liquidity key - Swiss banker
"A liquid market for government bonds is a great advantage for the functioning of financial markets and for an efficient monetary policy," Swiss National Bank board member Thomas Jordan argued on Tuesday.
Russia piles on pressure for Tosovsky
Aleksei Mozhin, Russia's executive director at the International Monetary Fund (IMF), reiterated his country's support for Josef Tosovsky to head the organisation.
Iranian governor resigns
Ebrahim Sheibani, the governor of the Central Bank of the Islamic Republic of Iran, has resigned.
Hungary maintains base rate
The National Bank of Hungary held the base rate at 7.75% on Monday 27 August.
Israel raises rates to 4%
The Bank of Israel increased its interest rate by 25 basis points to 4%, after inflation rose more than expected in July.
Colombia holds rates
Colombia's central bank decided to maintain its 9.25% interest rate on Friday after inflation fell in July.
Borrowing from Fed at highest level since 9/11
Banks have borrowed an average of $1.2 billion a day from the Federal Reserve's discount window for the week ending 22 August. This is the third highest weekly amount of borrowing ever.
Malaysia holds rates at 3.5%
Bank Negara Malaysia decided to keep its overnight call rate at 3.5% on Friday.
Canada appoints special adviser
Paul Masson will join the Bank of Canada as a special adviser for the year 2007-08 in September, the central bank announced on Wednesday 22 August.
RBNZ appoints new department head
Lindsay Jenkin will join the Reserve Bank of New Zealand as head of human resources.
Zimbabwe's Gono banned from United Kingdom
A leading Zimbabwean newspaper has reported that the United Kingdom has barred Gideon Gono, the governor of the Reserve Bank of Zimbabwe, from entering the country because of his role as president Robert Mugabe's "private banker".
Ford chief joins Wall Street's calls for Fed cut
Alan Mulally, the chief executive of motor company Ford, voiced his support for a cut to the federal funds rate on Friday.
IMF head plays down market volatility
Rodrigo de Rato, the managing director of the International Monetary Fund (IMF), expects both US and global economic growth to continue in spite of financial turmoil.
Japan holds rates for now
The Bank of Japan's monetary policy board voted 8-1 in favour of keeping the overnight call rate at about 0.5%.
RBNZ boosts liquidity with bill buyback
The Reserve Bank of New Zealand said that it will accept New Zealand bank bills in its overnight reverse repurchase facility from 24 August.
Pressure moves to money market funds
In a classic example of how financial strains can have repercussions in areas of finance far away from the original epicentre of the crisis, asset management companies such as Vanguard Group and Fidelity Investments have been flooded with calls from…
We can overcome international snub - Iran deputy
Mohammad-Jaafar Mojarrad, the deputy governor of the Central Bank of the Islamic Republic of Iran, said it is handling the impact of the US's plea to Europe's banks to stop trading dollars with the country.
US Senator hints at cut after high level meeting
Christopher Dodd, a US senator, said Ben Bernanke, the chairman of the Federal Reserve, would use "all the available tools" to ensure markets remained liquid.
Russia wants Czech governor Tosovsky to head IMF
Russia has nominated Josef Tosovsky, the former head of the Czech National Bank and the current chair of the Bank for International Settlements' Financial Stability Institute, to take over from Rodrigo Rato at the International Monetary Fund (IMF).
Central bank gold sales to approach limit
Members of the central bank gold agreement (essentially the eurozone plus Sweden and Switzerland) have sold 396 tonnes in the first 10 months of the "gold year", as much as the total for the whole of last year.
Polish MPC member says rate hike can wait
Stanislaw Owsiak, a member of the National Bank of Poland's monetary policy council (MPC), said July data indicated an August interest rate rise may not be necessary.