News
Canada extends collateral list to aid market
In a move to shore up liquidity, the Bank of Canada said Wednesday that it will expand the list of collateral eligible for use in special purchase and resale agreements.
Only 'calamity' justifies rate hike - Fed's Poole
William Poole, the president of the St Louis Federal Reserve, said the US economy may weather subprime woes and that only a "calamity" would lead to a rate cut before the next Federal Reserve meeting on 18 September.
South African Reserve Bank raises rates by 0.5%
The South African Reserve Bank has hiked rates to 10% to combat rising inflation.
RBNZ comments on liquidity provisions
Grant Spencer, the acting governor of the Reserve Bank of New Zealand, says the central bank would act if market conditions worsened, saying that the bank "stands ready to provide additional liquidity" if required.
Turkey holds rates
The Central Bank of the Republic of Turkey decided to keep its short-term interest rates unchanged on Tuesday.
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Polish rates to rise soon
Halina Wasilewska-Trenkner, a monetary policy committee member at the National Bank of Poland, says interest rates will rise in either August or September this year.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Burundi appoints new governor
Gaspard Sindayigaya will replace the recently-arrested Isaac Bizimana as the new governor of the Central Bank of Burundi.
Trichet claims markets close to normal
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that the current "period of market nervousness" is coming to an end.
UK inflation stats lower chances of rate hike
The UK's inflation rate has fallen below its target 2% rate for the first time in 15 months, fuelling speculation that interest rates have peaked at 5.75%.
NZ finance minister knocks CB migration plans
Michael Cullen, New Zealand's finance minister, criticised the Reserve Bank of New Zealand's proposal to limit immigration in order to curb rising house prices in parliament today.
Israel prepares for the worst
The Bank of Israel's core staff participated in a two-day drill exercise on Monday and Tuesday as part of the central bank's business continuity programme.
Inflation will remain low - Taiwan governor
Perng Fai-nan, the governor of the Central Bank of the Republic of China (Taiwan), said that central bank strategy had ensured inflation remained low and stable, and that it would continue to do so.
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
Australia expects 3% inflation by year end
The Reserve Bank of Australia has revised its inflation forecast to the top of its 2%-3% target range following its latest consumer price index (CPI) figures.
Greenspan to advise Deutsche Bank
Deutsche Bank, the German investment and retail bank, announced on Monday that it will retain Alan Greenspan, the former governor of the Federal Reserve, as a senior adviser.
Dollar sell-off claims prompt Chinese reaction
A spokesperson for the People's Bank of China has countered reports in the British media that the central bank plans to use its vast dollar reserves as a political weapon against the United States.
Japan injects 1.6 trillion into money markets
The Bank of Japan injected 1 trillion ($8.4 billion) into the money markets Friday and 600 billion Monday in an effort to counter shockwaves triggered by the US subprime crisis.
Central banks continue to plug markets
On Friday, central banks around the world engaged in an orchestrated effort, initiated by the European Central Bank (ECB) and the Federal Reserve a day earlier, to keep money markets afloat amidst wide-spread fears of a global credit crunch.
Intervention fails to stem equities sell-off
The wide-scale intervention by central banks around the world on Thursday and Friday reduced spreads in domestic money markets, but failed to stop the declines in global stock markets.
Japanese regulator seeks hedge fund clamp-down
The Japanese Securities and Exchange Surveillance Commission (SESC), has warned that investment banks and hedge funds are becoming "too close" and expressed fears that this could lead to insider trading and other forms of misconduct.
Chilean rates reach five-year high
Chile's central bank lifted its overnight lending rate to the highest in five years, and suggested that additional tightening is likely to be needed to keep inflation anchored around the 3% inflation target.