News
Bank of Papua New Guinea warns on spending
The Bank of Papua New Guinea issued a warning to the government against increased spending during the general elections, in the face of unfavourable external developments.
Del Cueto nominated as Mexican deputy governor
The Mexican president, Felipe Calderon, has proposed Roberto del Cueto as the deputy governor of the country's central bank for a seven-year term on 20 June.
Options open on Canadian securities regulator
The Canadian government says it will consider an alternative structure for securities regulation if it is favoured by most provincial authorities.
King outvoted over rates increase again
The Monetary Policy Committee (MPC) of the Bank of England narrowly defeated governor Mervyn King at their policy meeting in June, voting 5-4 to keep the rate unchanged at 5.5%. This was the second time that the governor was on the losing end of an MPC…
Sweden raises key rate - and more to come
Sveriges Riksbank, Sweden's central bank raised its benchmark interest rate on 20 June for the eighth time in 18 months, this time lifting the repurchase rate by a quarter point to 3.5%, the highest level for over four years.
New governor for Slovenian central bank
After a months-long deadlock the parliament of Slovenia has finally approved a new central bank governor. The new governor is Marko Kranjec, an economics professor and financial expert who was the country's first finance minister.
Bank of Israel's wage dispute continues
The wage dispute at the Bank of Israel is continuing, with Eli Cohen, the wages director at the country's finance ministry, refusing to sign off on various clauses of the new collective employment agreement.
Hedge funds hope for voluntary standards
Thirteen of Europe's largest hedge funds are hoping to stave off political pressure for greater industry regulation by getting Sir Andrew Large, a former deputy governor of the Bank of England, to head a study group examining voluntary standards.
Central Bank of Iceland clears rate confusion
The Central Bank of Iceland has issued a statement in which it "underlined" that its new representation of interest rates implies "no change in policy rates."
NZ dollar nears 20 year high against the yen
New Zealand's dollar, known as the "kiwi", appreciated to its highest value in almost 20 years against the yen as investors bet on the failure of the central bank to stem its gains.
Botswana's rates cut to 14.4%
The Bank of Botswana has cut the country's interest rates by 50 basis points to 14.5%, on the improved outlook for inflation.
"Ominous" fall in German's business confidence
Confidence among Germany's businesses fell in June, but opinions were split as to what this meant for the outlook for the economy.
Russian central bank cuts discount rate
The central bank of Russia cut its discount rate from 10.5% to 10% on 19 June.
IMF mulls currency surveillance tools
Rodrigo de Rato, the managing director of the International Monetary Fund says the Fund will soon announce more details above its new surveillance system for foreign exchange policies, which will make clear to member countries what is "acceptable to the…
Polish watchdog merger in doubt, says report
Slawomir Skrzypek, the President of the National Bank of Poland, has proposed a delay in the government's plan to merge the banking regulator into the wider-ranging finance industry watchdog, according to newspaper reports.
ECB's Weber acknowledges risks to price stability
Risks to price stability will continue while the average inflation rate in 2007 and 2008 are above the European Central Bank's inflation guidelines, Axel Weber a member of the central bank's governing council said in an interview over the weekend.
Chinese regulator fines lenders
Two of the major commercial banks in China and six other financial institutions will be fined for lending money used by two state companies to buy stocks and real estate, despite official efforts to step up the regulation of state-owned banks and the…
Kenya's central bank cuts key rate to 8.5%
The Central Bank of Kenya cut one of its key interest rates to 8.5 from 10% in an attempt move it further in line with other policy rates.
RBNZ intervenes in currency market again - traders
Foreign currency traders say that the Reserve Bank of New Zealand again intervened in the market on 18 June. This follows a statement by the central bank last week acknowledging that it had done so for the first time since it set up a fund for…
Japanese rates on hold
The Bank of Japan's Monetary Policy Committee decided on 15 June, by a unanimous vote, to leave interest rates at 0.5%.
Banks still matter most - Bernanke
Federal Reserve Chairman, Ben Bernanke, says the Fed has retained the ability to control financing costs, despite the fact that nonbank lenders and capital markets have replaced banks as sources of credit for many households and businesses.
Rates on hold in Chile
Chile's central bank held its overnight lending rate unchanged for a fifth month in a row, but suggested that higher interest rates may be necessary later this year as inflation accelerates.
Polish governor on inflation, euro entry
Polish inflation is under control and the immediate outlook does not give the National Bank much cause for concern, the central bank's governor, Slawomir Skrzypek, said on 15 June.
Brown promises transparency on MPC appointments
Gordon Brown, Britain's Prime Minister designate, has vowed to make the process of appointing the Bank of England's Monetary Policy Committee members more transparent, including an open invitation to candidates.