News
China makes two rate hikes to cool inflation
The People's Bank of China increased its benchmark rate by 18 basis points to 7.02% and its deposit rate by 27 basis points to 3.6% in an effort to stabilise inflationary pressures.
Bank of England joins the fray with emergency loan
In what represents its first unusual market intervention during the current spell of market volatility, the Bank of England lent £314 million ($622 million) today to an unnamed financial institution through its standing facility.
Swiss chairman criticises US subprime
Jean-Pierre Roth, the chairman of the Swiss National Bank described the US subprime crisis as "unbelievable" and said that reality was "striking back"
Bahamas steps up supervision
The Central Bank of The Bahamas has asked resident commercial banks to submit group organisational charts in order to comply with the Basel core principles for effective banking supervision.
China to pursue private equity, despite losses
Jesse Wang, vice chairman of the People's Bank of China's investment arm Central Huijin, defended the central bank's investment in Blackstone and said he would continue to recommend investment in private equity funds.
Basel II needs risk culture to work - Kenyan chief
Njuguna Ndung'u, the governor of the Central Bank of Kenya, said that east African commercial banks need to adopt sound risk management practices before the region's central banks can implement the Basel II accord.
Market optimism fades after Fed action
After the rally in US equity market of Friday continued in Asian and European markets after the weekend, Wall Street indexes were firmly back in the red by mid-day on Monday.
Ecuadorian board member seen as president's ally
Ecuador's congress has named Miguel Ruiz, who is seen as an ally of the country's leftist president, to the central bank's board boosting his influence over an institution he has vowed to strip of its independence.
Czech deputy sees "significant" rate rise
The Czech central bank should raise rates "significantly" to keep inflation on target, says Ludek Niedermayer, the Czech central bank's deputy governor.
Bank Indonesia changes loan regulations
Bank Indonesia, the country's central bank, has announced new limits the type and amount of corporate bonds which commercial banks can classify as "loans" in their official loan-to-deposit ratio (LDR) calculations.
Gono denies parallel trading by central bank
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has denied reports that the central bank is tapping unofficial currency markets in search of foreign currency, notably dollar and South African rand.
Poole replaced on Fed policy vote
In a surprise development, William Poole, the president of the St Louis Federal Reserve, did not vote on the Federal Open Market Committee (FOMC) policy announcement on recent market volatility.
Japan injects 1.2 trillion as Nikkei falls 5.4%
The Bank of Japan lent 1.2 trillion ($10.5 billion) to the markets Friday after draining 2 trillion Wednesday. The central bank's injection was made as market concerns over liquidity took the overnight lending rate above the central bank's 0.5% target.
UK regulator revamps enforcement division
The Financial Services Authority (FSA), the UK industry regulator, will offload a third of staff from its enforcement division as part of its shift from a rules to a principles-based regulatory framework.
Independence nothing new - Jamaican governor
Local media reports the governor of the Bank of Jamaica, Derek Lati-beaudiere, played down plans from the Jamaica Labour Party, the country's main opposition party, for an independent central bank.
Virtual bank collapse spurs calls for regulation
The failure of a bank that exists only in cyberspace has raised awareness of the lack of real world supervision to protect online investors.
Canada extends collateral list to aid market
In a move to shore up liquidity, the Bank of Canada said Wednesday that it will expand the list of collateral eligible for use in special purchase and resale agreements.
Only 'calamity' justifies rate hike - Fed's Poole
William Poole, the president of the St Louis Federal Reserve, said the US economy may weather subprime woes and that only a "calamity" would lead to a rate cut before the next Federal Reserve meeting on 18 September.
South African Reserve Bank raises rates by 0.5%
The South African Reserve Bank has hiked rates to 10% to combat rising inflation.
RBNZ comments on liquidity provisions
Grant Spencer, the acting governor of the Reserve Bank of New Zealand, says the central bank would act if market conditions worsened, saying that the bank "stands ready to provide additional liquidity" if required.
Turkey holds rates
The Central Bank of the Republic of Turkey decided to keep its short-term interest rates unchanged on Tuesday.
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Polish rates to rise soon
Halina Wasilewska-Trenkner, a monetary policy committee member at the National Bank of Poland, says interest rates will rise in either August or September this year.