News
Bank of Mexico keeps interest rate on hold
The Bank of Mexico, the country's central bank, held its overnight lending rate at 7.25% on 22 June, after a larger than expected fall in consumer prices in May.
Tight monetary policy in Sri Lanka pays off
The Central Bank of Sri Lanka announced on 25 June that rates will remained unchanged at 10.5%. The central bank also published its regular review of monetary policy on 25 June, noting that improvements in the external and monetary sectors of the economy…
"Whitening effect" changes Hungary's thinking
In a surprise move the National Bank of Hungary cut its benchmark interest rate on 25 June. Rates remain the highest in the European Union, despite the 25 basis point cut which took them to 7.75%. It was the first rate change in Hungary since October…
BoE's governor blames banks for £5 note shortage
Mervyn King, governor of the Bank of England, criticised the short supply of "fivers" in his annual Mansion House speech on 20 June.
Credit mis-pricing in India creates risks
Mis-pricing of credit risks by domestic bankers can both create systemic vulnerability and have implications for small borrowers, the deputy governor of the Reserve Bank of India, Rakesh Mohan, noted yesterday.
Kuwaiti institutions under fire from Parliament
Members of parliament in Kuwait launched a fierce attack on the Central Bank of Kuwait (CBK) and the Kuwait Investment Authority (KIA), saying that some of their officials were deriving personal benefit from their decisions and investments.
Angola can end this year with 10% inflation: cb
The National Bank of Angola, the country's central bank, has stated its confidence that Angola can end this year with an inflation rate of 10%, while acknowledging that structural difficulties in the economy may get in the way of achieving this…
Provinces press Canadian cb not to raise rates
Ontario was in the forefront of pressure from the Canadian provinces on Bank of Canada governor David Dodge not to raise interest rates.
Polish bank head outvoted over rate rise
The National Bank of Poland's president was on the losing side as the rate-setting committee voted 6-4 for the first rise in interest rate in three years in April, a report released today showed.
US treasury points to dangers of sovereign wealth
Clay Lowery, acting under-secretary for international affairs at the US treasury, has asked the International Monetary Fund and the World Bank to compile best-practice guidelines for sovereign wealth funds.
Taiwan raises rates again
Taiwan's central bank raised its benchmark interest rate - the discount rate on 10-day loans to banks - by a quarter percentage point to 3.125% today.
China cool on IMF policy shift
The People's Bank of China reacted coolly to the change in the International Monetary Fund's currency monitoring policies (see our news item, 19 June).
BoJ to continue gradual rate hikes
The minutes of the May 16-17 board meeting of the Bank of Japan confirmed the view of members that the central bank should continue to raise interest rates gradually, in line with growth and inflation prospects.
Russian cb retains hold on banking regulation
The Central Bank of the Russia will hold on to its position as sole regulator of the banking sector, in the teeth of a determined effort by the State Duma to remove its power to revoke banking licences.
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.