News
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
Give Canadian CB more say on collateral: Carney
Mark Carney, the governor of the Bank of Canada, urged lawmakers to allow the central bank to broaden its list of eligible collateral to alleviate money-market tensions.
OECD inflation hits 3.5%
CPI inflation in the 30 member economies of the Organisation of Economic Co-operation and Development (OECD) rose to 3.5% in the year to March, up from 3.4% the previous month.
UK told to tighten supervision in territories
A group of British lawmakers has called on the government to improve financial supervision in several of its overseas territories.
Stop storing coins, says Solomon Islands CB
The Central Bank of the Solomon Islands has called on citizens to swap their coins for notes rather than hoarding them - a practice which has led to a shortage.
Japan lowers growth forecast
The Bank of Japan has chopped more than half a point off its growth estimate for 2008 and warned that in a highly uncertain climate, downside risks to the economy could further limit expansion.
IMF redundancy offer oversubscribed
The International Monetary Fund's bid to cut its workforce by 13% by offering voluntary redundancy packages has led to over 20% of employees asking to leave.
Sri Lanka reacts as inflation hits record high
The Central Bank of Sri Lanka has lowered its reserve money targets in a bid to curb rampant inflation which soared to an all-time high in the year to April.
Saudi to set up $5.3 billion wealth fund
Saudi Arabia is in the final stages of launching its first sovereign wealth fund.
Fed cuts to 2%
The Federal Open Market Committee (FOMC) lowered rates by a quarter point on Wednesday.
IMF governors pass reform measures
The vast majority of the International Monetary Fund's (IMF) governing board has backed a raft of reforms that will see emerging markets have a greater say in how the organisation is run.
OMO changes must temper money-market woe: King
Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.
UK counterfeit seizures fall for 3rd straight year
The number of counterfeit banknotes in circulation confiscated by the British authorities plummeted by almost a quarter last year. The total face value of counterfeit notes found also fell by a similar degree.
India warns on prices but keeps rates unchanged
The Reserve Bank of India held rates at its quarterly monetary policy meeting on Tuesday in spite of inflation reaching a three-year high in the weeks leading up the meeting.
Mauritius calls special meeting
The Bank of Mauritius will hold a special Monetary Policy Committee (MPC) meeting on 2 May, the central bank said on Tuesday.
Fed welcomes SWF investment
Scott Alvarez, the general counsel of the Federal Reserve, has told the US Senate that the central bank welcomed investments by foreign sovereign wealth funds in American banks and financial institutions.
Hackers sabotage Bank of Israel website
Computer hackers forced the temporary closure of the Bank of Israel's website late last week.
Probe into rumour-mongering widens
The Financial Services Authority (FSA) in Britain is teaming up with other financial services watchdogs as part of an expanding investigation into allegations of market abuses surrounding sudden drops in the share prices of financial institutions.
FSA appoints new senior adviser after Rock fiasco
The Financial Services Authority (FSA) in Britain has appointed Naguib Kheraj as senior adviser to the newly created Supervisory Enhancement Programme (SEP).
Interest rate gap too large, says France
Christine Lagarde, the French minister of finance, has issued a guarded warning to the European Central Bank (ECB) not to raise rates.
Philippines keep rates on hold
After implementing five cuts in the benchmark interest rate since July last year, the central bank of the Philippines kept interest rates unchanged at 5% on 24 April.
Russian central bank hints at broad tightening
Alexei Ulyukayev, the first deputy chairman of Russia's central bank, suggested on 22 April that monetary conditions may be tightened in the near future using a range of policy tools.
Big rate hike in Serbia
The National Bank of Serbia has raised its key policy rate to 15.25% from 14.5%. Radovan Jelasic, the governor of the central bank, said the move came in response to rising inflation, caused by growing salaries, record oil prices and political crisis.
Swiss join calls for bank pay reform
Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank, has urged a complete rethink of commercial banks' corporate governance and pay schedules in the wake of the credit crisis and recent trading scandals.