News
Peru's rates steady as inflation remains subdued
Peru's central bank yesterday held the overnight lending rate unchanged for the thirteenth consecutive month at its five-year high of 4.5%. Infaltion remains low and stable, despite rapid economic growth.
South Africa's reserves surge in one month
New data from the South African Reserve Bank has revealed that net gold and foreign exchange reserves rose to $25.48bn in May from $24.59bn the previous month. Gross reserves were also up to $27.85bn from $27,02bn.
NZ interest rate up to record 8%
The markets were taken by surprise on 7 June when the New Zealand central bank raised its key interest rate to a record 8% from 7.75%, in efforts to stem inflation.
Indonesia cuts for twelfth time since May 2006
As widely expected, Bank Indonesia reduced its policy interest rate - used as a reference for bill sales - by a quarter point to 8.5% today, taking advantage of the lowest inflation rate in six months. It was the twelfth rate cut since May 2006.
Brazil cuts lending rate to record low of 12%
Following the recovery of the Brazilian currency, which has held inflation at an eight-year low, the central bank lowered the benchmark lending rate by half a percentage point to a record low of 12%.
World Bank issues Russian inflation warning
The World Bank has warned that a massive influx of capital into Russia in the wake of major bank loans and share offerings by Russian companies could result in a loss of control over inflation.
Bank of England maintains bank rate at 5.5%
The Bank of England's Monetary Policy Committee (MPC) has voted to maintain the official bank rate paid on commercial bank reserves at 5.5%.
Australia keeps rate at six-year high
Glenn Stevens, Governor of the Reserve Bank of Australia, announced on 6 June that the central bank would keep its benchmark interest rate unchanged for the sixth meeting in succession. Rates remain unchanged at a six-year high of 6.25%.
Polish inflation within target range - governor
The governor of the National Bank of Poland, Slawomir Skrzypek, says inflation should remain within the central bank's target range of 1.5% to 3.5% until mid-2008.
Bank Indonesia more bullish
Bank Indonesia, the country's central bank, has upgraded its national economic growth forecast for this year from 6% to 6.2%. The latest inflation figures are also better than those forecast by the central bank.
Risks rising for emerging markets - RBI's Reddy
Y.V. Reddy, the governor of the Reserve Bank of India, has warned that new financial market players and instruments, as well as greater market integration, mean that the risk of contagion to emerging economies may have grown.
Cyprus surprises with unchanged repo rate
The Central Bank of Cyprus has raised the interest rate on its marginal lending facility and on the overnight deposit facility by 25 basis points. However, the rate on the central bank's main refinancing operations (repo rate) remains unchanged at 4.5%.
ECB lifts rates to 4%
The European Central Bank has raised its key interest rates by 25 basis points to 4%, taking rates in the eurozone to their highest level for six years. This latest increase means that interest rates have doubled in 18 months.
Kiraly new deputy governor in Hungary
The Governor of the Magyar Nemzeti Bank, Andras Simor, has proposed Julia Kiraly as the central bank's new Deputy Governor.
Olmert called in on Bank of Israel wage dispute
The signing of a new wage agreement at the Bank of Israel has been delayed by troubles over the central bank's so-called "second generation workers".
Pig disease threatens inflation rise in China
Food prices, especially those of pork and eggs which make a substantial contribution to the country's inflation rate, are being closely watched by the People's Bank of China.
Syria to abandon dollar peg in July
The governor of Syria's central bank, Adib Mayelah, announced that the country will abandon the Syrian pound 's peg to the dollar in an effort to stem rising costs and inflation.
Serbian inflation on the rise
The governor of the National Bank of Serbia says the central bank expects the country's overall inflation rate to reach 6% this year.
Bernanke: US inflation slowing, but risks remain
Federal Reserve Chairman Ben Bernanke says US core inflation "seems likely to moderate gradually over time", but there are "upside" risks to this forecast.
Inflation expectations contained - Turkey's Yilmaz
Speaking at a conference celebrating the 75th anniversary of the Central Bank of the Republic of Turkey, governor Durmus Yilmaz said the central "strong reaction" to financial turmoil in 2006 "have contained inflation expectations" and that these will …
Russian central bank predicts fall in inflation
The first deputy chairman of the Russian central bank, Alexei Ulyukayev, said on 4 June that the country's inflation is likely to fall to 5.2% for the first six months of this year, one percentage point down on the same period in 2006.
New information officer for RBNZ
The Reserve Bank of New Zealand has announced the appointment of Tanya Harris as its new Chief Information Officer and Head of Knowledge Services Group.
Regulatory concerns knock Chinese shares
China's stock market closed 8.26% down on Monday 4 June as worries that the government is about to take further measures to cool the economy triggered a major sell-off.
Former Fed No 2, Preston Martin, dies
Preston Martin, the former deputy chairman of the Federal Reserve died last week, aged 83.