News
Ghana raises rates to combat record inflation
The Bank of Ghana raised rates by a full percentage point on Monday as spiralling oil and food prices drove inflation to a three-year high of 18.4%.
Solomon Islands wait on Hou replacement
The delay in appointing a new governor before Rick Houenipwela leaves in August is causing concern at the Central Bank of the Solomon Islands, according to local media reports.
Mexico looks to squeeze above-target inflation
The Bank of Mexico lifted rates for the second straight month on Friday in a bid to slow inflation which was risen to 5.26% as a result of surging oil and food prices.
Keep wages low, Trichet warns eurozone bosses
Jean-Claude Trichet, the president of the European Central Bank (ECB), has urged euro-area employers to avoid raising wages and prices for services on the back of higher oil and food costs.
Japanese risks balanced, says Shirakawa
Masaaki Shirakawa, the governor of the Bank of Japan, said on Friday that the risks to growth and inflation in Japan were evenly balanced and that the central bank's policy stance was neutral.
Turkey holds lending rate on liquidity fears
The Central Bank of Turkey continued its rate-tightening run on Thursday by raising borrowing rates by half a point. But volatility in the money markets kept lending rates constant.
Lawmakers press for changes to ECB price target
Members of the European Parliament have proposed a series of changes to the European Central Bank's inflation target.
Banks offer regulatory fix
The banking industry has developed a code of conduct to respond to the flaws highlighted by the global credit crunch.
Zimbabwean inflation at 2.2m%
Zimbabwe's annual inflation rate has hit 2,200,000%, Gideon Gono, the governor of the country's Reserve Bank, said on Wednesday.
SA stats accused of overestimating inflation
South Africa's government statistics bureau is overestimating inflation by more than two percentage points, Investec, an asset management firm, has argued.
Swiss monetary framework a model of distinction
The Swiss National Bank's unique monetary policy model has allowed the real economy to escape the worst of the financial turmoil, says the International Monetary Fund (IMF).
SWFs scaling back dollar holdings, says FT
Sovereign wealth funds are reducing their dollar holdings, the Financial Times has reported.
Berlin calls off note-printer auction
The German government has abandoned plans to sell its federal printing works.
US inflation soars to 5%
The key measure of US annual inflation surged to its highest level since 1991 in June, figures out Wednesday reveal.
Czechs hit out after media ignores warning
The Czech National Bank on Wednesday attacked a leading Czech daily's decision to publish the financial information of its senior employees despite an earlier warning by the central bank.
Senator condemns Fed
A US Senator has attacked Federal Reserve policy and called on Washington to deprive the central bank of some of its rate-setting responsibility.
Ex-Polish PM to head IMF's European department
Marek Belka, a former Polish prime minister and finance minister, will become the new head of the International Monetary Fund's (IMF) European Department. He will be the first Central European to take the role.
US regulators issue guidance on Basel II
The four US regulators responsible for the Basel II framework have published final guidelines on how banks adopting the advanced approaches can best carry out the supervisory review process.
Canada holds rates, warns on inflation
The Bank of Canada on Tuesday opted to keep rates at 3% but warned inflation was set to soar above 4%, double the institution's target.
Olympic banknotes spark queues in Hong Kong
The release of special banknotes to mark the Beijing Olympics has prompted queues outside the Bank of China's Hong Kong branches.
Japan lowers growth forecast
The Bank of Japan has revised down its growth estimate for this year on the back of flagging business fixed investment and poor private consumption figures.
UK inflation surges to 16-year high
British headline inflation rose to 3.8% in the year to June, its highest level since 1992.
Fed tightens lending standards
The Federal Reserve on Monday approved a series of measures which it hopes will protect consumers against the sort of misleading lending practices considered partly responsible for the subprime crisis.
Fed will lend to Fannie and Freddie
The Federal Reserve has authorised the New York Federal Reserve to lend to Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) that insure half of the US's home loans.