News
Trichet absent from Jackson Hole talks
Jean-Claude Trichet, the president of the European Central Bank (ECB), will not attend the Federal Reserve's Jackson Hole conference.
BofE lends £1.6 billion from standing facility
The Bank of England said that a commercial bank borrowed £1.6 billion on Wednesday through the Bank's standing facility, which charges 100 basis points more than the base rate.
Close call on Czech rate decision
The Czech National Bank's monetary policy board voted 4-3 in favour of a quarter-point rate hike on Thursday. The increase raises the benchmark two-week repo rate to 3.25%.
ECB tender reveals illiquidity
The results of the European Central Bank's latest tender indicate conditions in the market for inter-bank lending are still far from normal.
Nigeria halts currency redenomination
The Central Bank of Nigeria has suspended its redenomination of the Naira at the request of the country's president, Alhaji Umaru Musa Yar'Adua.
Japan unaffected by Fed decision says Mizuno
Atsuki Mizuno, a member of the Bank of Japan's monetary policy board, said Thursday a Federal Reserve rate cut would not stop a possible Japanese hike.
Europe's IMF domination to end with Strauss-Kahn?
Jean-Claude Juncker, the prime minister of Luxembourg, has said that Dominique Strauss-Kahn, the EU's nominee to head the International Monetary Fund (IMF), will be the last managing director to come from the EU for the "foreseeable future".
Estonia delays euro entry
The Bank of Estonia has said that Estonia would not meet EU criteria for eurozone accession in the years 2008-2009 and thus would not be able to adopt the common currency in 2010.
Thailand holds rates
The Bank of Thailand decided Wednesday to keep its benchmark interest rate, the one day repurchase rate, at 3.25%.
Poland increases rates
The National Bank of Poland decided Wednesday to hike interest rates by a quarter despite inflation remaining below the central bank's target rate. The benchmark reference rate is now 4.75%.
Government bond liquidity key - Swiss banker
"A liquid market for government bonds is a great advantage for the functioning of financial markets and for an efficient monetary policy," Swiss National Bank board member Thomas Jordan argued on Tuesday.
Russia piles on pressure for Tosovsky
Aleksei Mozhin, Russia's executive director at the International Monetary Fund (IMF), reiterated his country's support for Josef Tosovsky to head the organisation.
Iranian governor resigns
Ebrahim Sheibani, the governor of the Central Bank of the Islamic Republic of Iran, has resigned.
Hungary maintains base rate
The National Bank of Hungary held the base rate at 7.75% on Monday 27 August.
Israel raises rates to 4%
The Bank of Israel increased its interest rate by 25 basis points to 4%, after inflation rose more than expected in July.
Colombia holds rates
Colombia's central bank decided to maintain its 9.25% interest rate on Friday after inflation fell in July.
Borrowing from Fed at highest level since 9/11
Banks have borrowed an average of $1.2 billion a day from the Federal Reserve's discount window for the week ending 22 August. This is the third highest weekly amount of borrowing ever.
Malaysia holds rates at 3.5%
Bank Negara Malaysia decided to keep its overnight call rate at 3.5% on Friday.
Canada appoints special adviser
Paul Masson will join the Bank of Canada as a special adviser for the year 2007-08 in September, the central bank announced on Wednesday 22 August.
RBNZ appoints new department head
Lindsay Jenkin will join the Reserve Bank of New Zealand as head of human resources.
Zimbabwe's Gono banned from United Kingdom
A leading Zimbabwean newspaper has reported that the United Kingdom has barred Gideon Gono, the governor of the Reserve Bank of Zimbabwe, from entering the country because of his role as president Robert Mugabe's "private banker".
Ford chief joins Wall Street's calls for Fed cut
Alan Mulally, the chief executive of motor company Ford, voiced his support for a cut to the federal funds rate on Friday.
IMF head plays down market volatility
Rodrigo de Rato, the managing director of the International Monetary Fund (IMF), expects both US and global economic growth to continue in spite of financial turmoil.
Japan holds rates for now
The Bank of Japan's monetary policy board voted 8-1 in favour of keeping the overnight call rate at about 0.5%.