News
Poole says Fed should not react to volatility
William Poole, the president of the Federal Reserve Bank of St Louis, says there is no need for the Fed to react immediately to recent volatility in the financial markets.
Malawi makes first rate cut in three years
The Reserve Bank of Malawi, the country's central bank, reduced its bank rate to 17.5% from 20% yesterday, encouraged by falling inflation and a strong economic turnaround.
Bernanke's prudent investments
Ben Bernanke, the chairman of the Federal Reserve, is a cautious investor, which a portfolio of financial assets consisting of mostly US Treasury securities, mutual funds and annuities.
Italian government eyes reserves for debt payment
The Italian government is proposing to use part of the central bank's gold and currency reserves to pay down national debt, which is currently at 107% of the country's gross national product. The country's parliament has approved a resolution calls for…
Bank of Japan plans gradual share sale
The Bank of Japan is considering ways to limit the market impact of its move to start selling shares in the country's commercial banks, bought between November 2002 and September 2004, by October this year.
Thailand mulls external reserves managers
Tarisa Watanagase, the governor of the Bank of Thailand, says the central bank may outsource the management of part of its $73 billion reserve holdings to maximise investment returns.
China plans deposit insurance
The People's Bank of China is looking into the establishment of a deposit insurance scheme to protect depositors should a bank collapse.
Russian fund rakes in $3.4 billion
The Russian Stabilisation Fund, which manages part of the foreign-currency proceeds from the country's oil exports, earned more than R85 billion ($3.4 billion) in the year to 1 July.
Unexpected tightening in Pakistan
Pakistan's central bank has unexpectedly raised its benchmark interest rate to its highest level in more than five years after inflation exceeded its target.
De Rato warns against private equity buy-outs
Rodrigo de Rato, the managing director of the International Monetary Fund, has warned against the dangers posed to global investment and growth prospects from the sharp rise in private equity buy-outs.
Indian cash reserve ratio increase
The Reserve Bank of India, the country's central bank, today left its key interest rates - the repurchase rate and the reverse repurchase rate - unchanged at 7.75% and 6% respectively, but increased the cash reserve ratio.
Zimbabwe issues new $200,000 note
The Reserve Bank of Zimbabwe has introduced the latest in a series of temporary banknotes which are intended to relieve a critical shortage of notes in the inflation-ravaged country.
Slovakian rates on hold
The board of Narodna Banka Slovenska, the central bank of Slovakia, decided keep current interest rates on hold after a meeting of the monetary policy committee.
China lifts reserve requirement ratio
The People's Bank of China, the country's central bank, raised the amount that lenders are required to hold in reserve for the ninth time in 13 months.
Kuwait lets dinar fall again
Kuwait allowed the dinar to depreciate against the dollar for the second straight working day on Sunday July 29, this time by 0.05%.
Colombia raises rates
Colombia's central bank raised the overnight interbank rate by a quarter of a percentage point to 9.25%, the highest level since 2001.
Turkish central bank urges spending reduction
The governor of Turkey's central bank, Durmus Yilmaz, said that the bank had found "gaps" in the country's budget forecasts during the recent election campaign, and urged the government to cut its spending.
New president of Chicago Fed
The Federal Reserve Bank of Chicago today announced that Charles L. Evans will become the bank's ninth president and CEO as of September.
Gambian central bank governor quits
The governor of Gambia's central bank, Famara Jatta, has left the country to take up the less prestigious position of representative of the African Development Bank (ADB) in Sudan.
Bank of Mexico chief pans welfare programmes
Guillermo Ortiz, governor of the Bank of Mexico, called for a reform of the country's labour laws and said that welfare programmes encouraged the poor not to take regular jobs.
Front-runners to succeed Canada's Dodge
Who will succeed David Dodge when he retires as governor of the Bank of Canada in January 2008? The two favourites are the senior deputy governor, Paul Jenkins, and ex-central banker Mark Carney, now a senior associate deputy minister of finance, but…
Nigerian central banker becomes finance minister
The president of Nigeria, Umaru Yar'Adua, appointed Shamsuddeen Usman, a deputy governor at the country's central bank since 1999, as finance minister.
New Zealand raises official cash rate
The Reserve Bank of New Zealand has raised its official cash rate (OCR) by 25 basis points to 8.25%, while indicating that further rises may not be necessary.
Czech National Bank raises rates
As widely expected the Czech National Bank (CNB) today raised its main interest rate by 25 basis points to 3% in an ongoing rate tightening cycle.