News
Iceland dismisses IMF advice and cuts
The Central Bank of Iceland's rate-setting board cut its key rate by a percentage point on Thursday despite the International Monetary Fund (IMF) last week supporting a "firm" monetary stance.
Kosovo joins World Bank
Kosovo on Thursday was granted membership of the World Bank after becoming the International Monetary Fund's 186th member in May.
NY Fed's Dudley on the future of securitisation
A smaller, more homogeneous and independent securitisation market is likely to emerge from the crisis, William Dudley, the president of the New York Federal Reserve, said on Thursday.
Latvia under intensified devaluation pressure
The Bank of Latvia on Thursday issued a strongly-worded statement defending the lats after the Baltic state's currency crisis intensified on Wednesday following a failed government auction.
New Nigerian governor criticises Soludo
Lamido Sanusi, confirmed as the new governor of the Central Bank of Nigeria on Wednesday, said he disagreed with his predecessor's plans to re-denominate the naira made back in 2007.
Bernanke announces Fed communication enhancements
In a bid to ease lawmakers' concerns over transparency, Ben Bernanke, the chairman of the Federal Reserve, has said that the central bank will publish several new reports on its lending.
Latvia PM dismisses devaluation advice
Latvia's prime minister has parried claims by a former governor of the Riksbank that the lats will need to be devalued in the near future.
Bank losses not as bad as 1990s, says Riksbank
The Riksbank has predicted a sharp, but manageable, rise in Swedish banks' loan losses, largely on the back of defaults by businesses in the Nordic region and the Baltic States.
Germany's Merkel attacks central banks
Angela Merkel, the chancellor of Germany, on Tuesday criticised the unconventional measures taken by central banks around the globe and called on them to revert to sane and independent monetary policy.
Awkward handover for Nigerian governor
The Nigerian central bank faces considerable uncertainty over the immediate future of the position of its governor.
RBA hints at further easing
While it kept rates on hold for the time being, the Reserve Bank of Australia has dropped a strong hint that further rate cuts are on the way by suggesting that "scope remains for some further easing."
Plosser joins district criticism of Fed
Charles Plosser, the president of the Reserve Bank of Philadelphia, added his voice to a growing chorus of discontent from regional banks over the policies of the Washington-based Federal Reserve Board.
Mboweni questions rand's rise
The governor of the South African Reserve Bank, Tito Mboweni, said the recent strength of rand against the dollar may be "unwelcome" as it pushes up the cost of the country's exports.
Weakness in dollar only "temporary" - UAE governor
Sultan Nasser Al Suwadi, the governor of the Central Bank of the United Arab Emirates, said that he perceived the weakness of the dollar as a "temporary situation".
Egyptian central bank to sell bank stake
Farouk al-Okdah, governor of the Central Bank of Egypt, told reporters that the central bank intends to sell its minority stake in British Arab Commercial Bank (BACB).
Latvia allays devaluation fears
Einars Repse, Latvia's finance minister and a former governor of the Bank of Latvia, on 29 May reinforced comments by Ilmars Rimsevics, the governor, that the country was not facing a currency devaluation.
Your assets are safe, Geithner tells China
Timothy Geithner, US treasury secretary, sought to reassure the US's largest foreign creditor regarding its investments in dollar-denominated government debt.
Dallas's Fisher: do not politicise regional Feds
Richard Fisher, the president of the Dallas Federal Reserve called on US lawmakers not to "politicise" the central bank by taking a role in selecting the presidents of district banks.
Bank may extend support operations
Paul Tucker, deputy governor of the Bank of England said on 28 May that the Bank might give permanent form to some of the programmes it created specially during the financial crisis.
Cen banks must take long-term view - Buba's Weber
The president of the Bundesbank, Axel Weber, said central banks should consider whole economic cycles, rather than simply shorter-term "snapshots", when they are setting monetary policy.
Bulgarian governor wins second term
Ivan Iskrov has been granted a second stint as governor of the Bulgarian National Bank (BNB), after two-thirds of lawmakers voted in favour of his reappointment.
Ukraine's central bank faces auditors
Accusations of mismanagement and corruption at the National Bank of Ukraine are to be investigated by international auditors, according to an official at the central bank.
SARB cuts in face of recession
The South African Reserve Bank (SARB) has cut interest rates by 100 basis points to 7.5% as Africa's leading economy enters it first recession in over a decade.
Further cuts possible in Czech interest rates
Miroslav Singer, the vice-governor of the Czech National Bank, has dropped strong hints that further interest-rates cut will be on the cards if the economic situation demands it.