News
Fed releases first revamped economic projections
The Federal Reserve on Tuesday published the first of its revised economic forecasts as part of the minutes of the 31 October rate-setting meeting.
Zhou parries appreciation calls
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank could widen the renminbi's trading range if deemed necessary.
G20 predicts "modest" global slowdown
Central bank governors and finance ministers from the G20 economies said that the credit turmoil would likely have a "modest" effect on global growth, but added that it remained difficult to judge the eventual impact.
Northern Rock stock falls on bid comments
Shares in Northern Rock, the mortgage lender, plummeted 19% on Monday after it revealed takeover bids were worth less than the company's stock market value at the Friday close.
Fed's Stern cautions on response to turmoil
Rating agency reform in the wake of the subprime debacle could cost the economy more than doing nothing, Gary Stern, the president of the Minneapolis Federal Reserve, has warned.
Koruna's rise unsustainable - Czech's Tuma
Zdenek Tuma, the governor of the Czech National Bank, has described the koruna's appreciation against the euro and dollar as unsustainable.
US subprime conditions set to worsen - Kroszner
Randall Kroszner, a governor of the Federal Reserve, warned on Friday that conditions in the US mortgage market had yet to reach rock bottom. Speaking in New York, Kroszner said that there were two reasons why he believed market conditions would worsen:…
Russia plays safe with fund investment
Russia's Oil Stabilisation Fund will stick to investing in highly-rated bonds until the fund's restructuring is complete early next year, officials said on Thursday.
Fed makes biggest injection since 9/11
The New York Federal Reserve injected $47.25bn on Thursday, the biggest daily amount since 19 September 2001, but got most of it back as previous repos matured.
Nicaragua's Bolaos gloomy on inflation forecast
Antenor Rosales Bolaos, the president of the Central Bank of Nicaragua, said on Thursday that inflation is set to rise over the next few months because of adverse weather conditions.
Australia in good shape to weather subprime
Warwick McKibbin, a board member of the Reserve Bank of Australia, expects the country's economy to remain buoyant in spite of the recent market turmoil.
Abed tips deputy Al-Wazir for PMA governor
George Abed, the former governor of the Palestine Monetary Authority (PMA), told Central Bank News on Wednesday that he expects Jihad al-Wazir, the deputy governor and current acting governor, to succeed him.
US Treasury official voices SWF stability fears
Sovereign wealth funds pose a threat to financial stability, says David McCormick, the under secretary for international affairs at the US Treasury.
Growth slowdown to follow crunch: Japan's Fukui
Toshihiko Fukui, the governor of the Bank of Japan, said he expected global growth to fall to 5% this year as a result of the financial turmoil.
Philippines cuts rates to 15-year low
The Central Bank of the Philippines's rate-setting board voted on Thursday to lower its benchmark key policy rate to 5.5%, the lowest level for 15 years.
Turkey votes for another 50bp cut
The Central Bank of Turkey's rate-setting committee cut the benchmark overnight borrowing rate by half a percentage point to 16.25% on Wednesday.
We're half-way to normal, says UK's King
Presenting the Bank of England's Inflation Report for November, Mervyn King, the governor of the Bank, said that key indicators of stress in financial markets had recovered partly from the levels reached in August and September but that the situation was…
Fed to offer more insight into decision making
The Federal Reserve is to give the public more insight into how the rate-setting Federal Open Market Committee (FOMC) decides on monetary policy.
China's Zhou acts as inflation hits 11-year high
Zhou Xiaochuan, the governor of the People's Bank of China, has responded to a surge in inflation by pledging to curb price rises and excess liquidity.
Estonia dismisses currency claims
The Bank of Estonia on Monday denied rumours that it was set to devalue the kroon, which is pegged to the euro.
Chile holds rates at 5.75%
The Central Bank of Chile's rate-setting board voted on Tuesday to keep its monetary policy interest rate at 5.75% despite CPI inflation of more than 6%.
Bank of Japan sticks to rate hold strategy
The Bank of Japan's rate-setting board decided to hold its benchmark overnight call rate at 0.5% for the ninth month in a row on Tuesday.
SWFs more likely to diversify than central banks
Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of foreign exchange strategy at UBS, a leading investment bank.
ECB to look to global economy on rate decisions
Global factors will increasingly influence European Central Bank (ECB) monetary policy decisions, Philippe Moutot, the director of monetary policy at the central bank, said on Tuesday.