News
Keeping rates low in Japan "could hurt growth"
Two members of the board of the Bank of Japan have dropped strong hints that the central bank is very much in tightening mode, suggesting that a continuation of low interest will hurt the economy.
Another rate hike in prospect in Poland
The Polish finance ministry has forecast that inflation in June will top the central bank's 2.5% target for the first time in over two years, making a rate rise more likely to ease growing price pressures in the fast-growing economy.
Business sentiment remains upbeat in Japan
The latest edition of the Bank of Japan's widely-followed Tankan business sentiment poll, published on 2 July, shows that businesses remain upbeat about the country's economic prospects.
Olmert ends Bank of Israel's wage dispute
Ehud Olmert, the prime minister of Israel, managed to push through a new wage agreement for the Bank of Israel before relinquishing the finance ministry role he has held in a temporary capacity.
Nepal's central bank governor "suspended"
Bijay Nath Bhattarai, the governor and chairman of Nepal Rastra Bank, the central bank of Nepal, is reported to have been suspended from these positions.
Korea's CPI rises 2.5% in a year
South Korea's consumer price index (CPI) rose to within the central bank's inflation target in June, according to preliminary figures from the country's National Statistical Office.
NZ lawmakers to review monetary policy framework
Lawmakers in New Zealand are set to consider new measures to widen the focus on monetary policy and provide the central bank with more policymaking tools.
PBoC upgrades growth and inflation forecast
The research bureau of the People's Bank of China says the country's economy is expected to grow 10.8% this year, the fastest rate in over ten years.
Shift to e-payments leads to Fed job cuts
The US Federal Reserve reductions in cheque processing is likely to result in more than 210 jobs being cut at the Minneapolis Fed, as consumers shift from paper checks to electronic payments.
Surprise as de Rato resigns from IMF
Rodrigo de Rato, the managing director of the International Monetary Fund, has announced that he would leave the Fund after its next meetings in October. This will be three years after his appointment and before the end of the normal five-year term.
Minister hints at Japanese wealth fund
Japan's Financial Services Minister said on 29 June that the country should debate whether to set up a fund to manage its foreign currency reserves.
Eurozone business confidence remains high
Recovery in the eurozone remains on track and economic confidence dipped only slightly this month, according to the European Commission. Inflation remained steady at 1.9% in June, within the ECB's target range, according to a separate estimate by…
Thailand governor cool on currency risks
Bank of Thailand governor Tarisa Watanagase says she dioes not expect another currency crisis like the one which hit the country ten years ago.
Chinense membership of FATF
The Financial Action Task Force has given approval for China to be a full member of the Financial Action Task Force on Money Laundering This is expected to assist the efforts of its banks to expand overseas.
Fed keeps rates at 5.25% for 12th month
The Federal Reserve held interest rates steady 28 June, citing "modest" improvements in recent inflation readings. Fed rates have now remained at 5.25% for 12 months.
Unexpected rate hike in Poland
Poland's central bank surprised market with a second rate hike for this year on 28 June, citing concerns that wage growth will force companies to boost prices.
Bank of England MPC members explain decisions
The testimonies of individual members of the Bank of England's rate-setting monetary policy committee (MPC) before the Treasury select committees on 28 June, provided some clues as to the timing of further tightening.
Czech rates on hold, hikes to follow
The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central…
Brazilian CB raises growth outlook
Brazil's central bank raised its economic growth forecast as 16 consecutive rate cuts and low inflation fuels consumer spending.
Albanian rates up by 0.25%
Albania's central bank raised interest rates by 25 basis points to 5.75% on 28 June. The central bank's governor, Adrian Fullani, said the risk of inflation had grown stronger lately, prompting the central bank's board of directors to act.
RBNZ may continue to sell its dollar - deputy gov
Grant Spencer, deputy governor of the Reserve Bank of New Zealand said on 27 June that the central bank may continue selling its domestic currency, now trading at its highest level in more than two decades.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
Brazil extends inflation target of 4.5% to 2009
The National Monetary Council of Brazil has extended the central bank's annual inflation target of 4.5% to 2009, which it says will provide policymakers with the "flexibility" to deal with unexpected price increases.
Inflationary pressures building - Fund
Inflationary pressures are "definitely building up" according to Simon Johnson, economic counsellor and director of research with the International Monetary Fund.