News
Banks right to lend cautiously: BoE's Barker
The British government's strategy of encouraging British banks to lend received a setback on Wednesday after Kate Barker, a member of the Bank of England's Monetary Policy Committee (MPC), said that she could understand their reluctance to lend.
Singapore warns on swine flu
Singapore's central bank said on Wednesday that swine flu will exacerbate the already severe downturn being felt by south-east Asia's most open economy.
Nigeria signs pact to host African central bank
Africa has moved another step closer to establishing a continental central bank after Nigerian lawmakers and African Union officials signed a memorandum of understanding to house the regional hub in Abuja, the country's capital.
Iceland's Oddsson says he did spot flaws
David Oddsson, the former governor of the Central Bank of Iceland who presided over the country's financial meltdown, has said he did warn of the dangers posed by the country's over-reliance on the banking sector.
FDIC's Bair condemns too big to fail
The idea of banks being too big to fail should be consigned to history, Sheila Bair, the head of the Federal Deposit Insurance Corporation (FDIC), the American regulator, has said.
Malaysia steps up liberalisation agenda
Bank Negara Malaysia on Monday announced a raft of measures to further liberalise the country's financial markets.
DSK notes discord on exit strategies
Public officials are divided on how best to abandon crisis-fighting policies once economies recover, Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), has said.
Geithner NY Fed diaries made public
The daily schedule of Tim Geithner, the US treasury secretary, during the final two years of his stint at the helm of the New York Fed has been released into the public domain.
Beijing steps up calls for global monetary reform
Chinese officials reiterated calls for the reform of the international monetary order over the weekend.
ECB council members signal May cut
Two of the members of the European Central Bank's (ECB) Governing Council have signalled that the central bank will cut again next month and may introduce further measures to soothe credit conditions.
Bank publishes first QE quarterly
Quantitative easing by the Bank of England has succeeded in reducing gilt yields, and narrowing spreads on commercial paper and corporate bonds, but the Bank on Monday cautioned that it will take some time to determine the full effect of its purchases.
Swiss economy to take 3% hit - SNB's Roth
Jean-Pierre Roth, chairman of the Swiss National Bank, has said that GDP this year is expected to contract by 3%, suggesting a less severe recession than in Germany or the United Kingdom.
Fed reveals Maiden Lane assets
In a bid to enhance transparency, and in doing so appease anger on the Hill, the Federal Reserve on Thursday released information about the assets it holds of American International Group (AIG), the beleaguered insurer, and Bear Stearns, a now-defunct…
ECB wants more info on collateral - report
The European Central Bank (ECB) could toughen up its collateral rules by forcing banks to disclose more detail about the instruments provided in return for the Frankfurt-based institution's funds, say reports.
EU devises new rules for rating agencies
The European Parliament on Thursday approved a batch of rules aimed at enhancing the transparency and performance of credit rating agencies, under fire for their role in the crisis.
China stockpiling gold
China has increased its gold reserves by 76% since 2003, said Hu Xiaolian, a vice president of People's Bank of China and the administrator of the State Administration of Foreign Exchange, on Friday.
Canada suffers record contraction
Canada's GDP contracted by an annualised rate of 7.3% in the first quarter of 2009, the fastest rate on record, according to the Bank of Canada.
China's economy on the up: central banker
Record lending by commercial banks and improved liquidity in the first quarter of 2009 suggests end-2008 marked a turning point in China's economic fortunes, said Yi Gang, deputy governor of the People's Bank of China.
Indian cut smaller than expected
The Reserve Bank of India cut interest rates by a quarter point on Tuesday, less than many observers had been predicting.
Icelandic rate setters divided on April cut
Iceland monetary-policy makers voted four to one to cut rates by 150 basis points, minutes of the April meeting revealed.
Bernanke, Paulson forced Merill deal: BoA chief
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, a former US treasury secretary, have been accused of pressurising Bank of America to go ahead with their takeover of investment bank Merrill Lynch after they attempted to back out of…
New deputy governor for Bank of Ghana
The president of Ghana, John Atta Mills, has appointed Henry Kofi Wampah as a new deputy governor of the Bank of Ghana.
Bank launches new lending report
21 April saw the publication of the first Trends in Lending report, a new monthly publication from the Bank of England which will present a regular assessment of lending to the UK economy.
World economy in deep recession: IMF
The global economy will contract by 1.3% in 2009, the International Monetary Fund (IMF) has said, even with determined efforts by governments to restore national financial sectors to health.