News
Cyprus holds rates in spite of inflation fears
The Central Bank of Cyprus's rate-setting board voted on Monday to keep its overnight deposit rate at 4.5% despite rising inflation.
Scrap agencies' role in Basel: ex-UK rate-setter
Basel II needs to go back to the drawing board before it is even out of the blocks because of rating agencies' influence in the framework, says Willem Buiter, a former member of the Bank of England's monetary policy committee, now a professor at the…
European central bank response wins plaudits
The reaction of European central banks to the credit crisis gained International Monetary Fund (IMF) approval on Monday.
Central banks criticised for communication failure
The world's most powerful central banks were inconsistent in their communication and lacked coordination during the summer's market turmoil, Richard Portes, one of the authors of an influential report on international financial stability, said on Monday.
Another Aussie hike likely as inflation climbs
The Reserve Bank of Australia could well raise rates again after the latest edition of the central bank's monetary policy statement revealed inflation was set to reach 3.25% in the fourth quarter of 2007.
We will survive US snub: Iran's Mazaheri
Tahmasb Mazaheri, the governor of the Central Bank of Iran, has said the country's banks can weather the impact of United States-imposed sanctions. Mazaheri's comments come as Angela Merkel, Germany's chancellor, said she would back more sanctions on the…
UK business group backs SWF rules
The Confederation of British Industry (CBI), the United Kingdom's largest business association, has said that sovereign wealth funds should be subject to the same code of self regulation that is being proposed for private equity firms.
China repeats efforts to curb liquidity
The People's Bank of China said on Thursday that it will introduce a raft of further measures to control what it described as the country's "severe" liquidity problem.
Czech inflation hits six-year high
Czech annual inflation rose to 4% in October - the highest rate in almost six years - figures published on Friday reveal.
Hungary was split on October rate hold
The Central Bank of Hungary's rate-setting board was evenly split on whether to hold or cut rates on 29 October, minutes out on Friday show.
Korea holds rates at 5%
The Bank of Korea's Monetary Policy Committee decided on Thursday to keep its call rate target at 5%.
Ghana's new banking system up-and-running
The Bank of Ghana has gone live with a new banking system that will integrate all of the central bank's core operations.
ECB holds rates at 4%
The European Central Bank's (ECB) rate-setting board voted on Thursday to keep rates at 4%, the fifth rate hold in a row.
Bernanke gives gloomy forecast for US growth
Ben Bernanke, the chairman of the Federal Reserve, said on Thursday that the United States economy would slump in the coming months.
Bank of England holds rates at 5.75%
The Bank of England's rate-setting board voted on Thursday to keep its benchmark bank rate at 5.75%.
ECB rolls over €60 billion-worth of injections
The European Central Bank decided on Thursday to renew the two supplementary longer-term refinancing operations allotted on 23 August and 12 September.
City wants to keep King
City of London bankers and economists have said they want Mervyn King, the beleaguered governor of the Bank of England, to serve a second term.
Sorry mess for Howard over Aussie rate comments
John Howard, the prime minister of Australia, scrambled to clarify what appeared to be an apology for the central bank's decision to hike rates to 6.75%, the first-ever rise during an election campaign.
Australia opts for rate rise
The Reserve Bank of Australia's rate-setting board voted on Wednesday to hike rates by 25 basis points to 6.75%, an 11-year high.
Dollar hits new low on back of Chinese comments
Sterling and the euro reached record highs against the dollar on Wednesday after a senior Chinese official said the government should diversify its foreign exchange reserves by swapping dollars for stronger currencies.
Strengthen dollar or face "economic war": Sarkozy
Nicolas Sarkozy, France's president, has told American politicians that the dollar must appreciate in order to avoid an "economic war" between the United States and the eurozone.
Time will prove Fed right, says Lacker
History will judge the Federal Reserve's decision to cut its discount rate by 50 basis points favourably, according to Jeffrey Lacker, the president of the Richmond Fed.
New Zealand economy stable despite turmoil
New Zealand's financial system remains sound in spite of the recent global banking crisis, the Reserve Bank of New Zealand said on Wednesday.
UK will come out of this stronger: King
Britain will have the best regulatory regime in the world by mid-2008 as a result of the Northern Rock crisis, according to Mervyn King, the governor of the Bank of England.