News
New rules for Bank of Italy chief
The Bank of Italy adopted new rules on 28 November that end the central bank governor's unrestricted decision-making powers and traditional job for life.
Bank Indonesia gets two new deputy governors
The government of Indonesia has recommended Mulaiman Hadad and Budi Rochadi as new deputy governors of the country's central bank.
UK rates have peaked - OECD
British interest rates are likely to have hit their peak according to the OECD's latest Economic Report, released on 28 November.
Canada to research inflation target
Although the Bank of Canada's inflation target will remain at 2% for the next five years, the central bank has announced a major research project on the benefits of lowering the target.
IMF ups eurozone growth forecast
The IMF's European department director, Michael Deppler, said on 28 November that the Fund has raised its eurozone growth forecast for both this year and next.
Bank of Israel cuts rates again
The Bank of Israel lowered its benchmark lending rate by 25 basis points on 27 November. This second reduction in two months takes rates to 5%.
Pakistan central bank's no-show in T-bill auction
Dealers in the Pakistani interbank market reported wild swings in short-term overnight interest rates on 27 November, triggered by the central bank's rejection of treasury market bids.
Chinese growth "low quality" says vice-governor
In a candid speech, the vice governor of the People's Bank of China, Wu Xiaoling, raised some question about the sustainability of China's economic growth.
Mexico holds rates despite inflation spike
On 24 November, the Bank of Mexico held its benchmark lending rate at 7%, as expected, for a seventh straight month. The central bank also indicated that the recent increase in inflation would be temporary.
Warsaw hails ex-president of central bank as mayor
Hanna Gronkiewicz-Waltz, the head of Poland's central bank from 1992 to 2000, is set to become the next mayor of the Polish capital Warsaw.
Norway's pension fund snubs
The Norges Bank-managed state pension investment fund has reportedly blacklisted several large international corporations, including the world's largest retailer Wal-mart, for "alleged human rights and labour abuses."
PBoC not focused on fine-tuning - deputy
The People's Bank of China is draining excess liquidity in order to maintain the differential between domestic and international interest rates, and not to stabilise output or reduce domestic investment, says Wu Xiaoling, the vice governor of the central…
McDonough for Santander board
Banco Santander Central Hispano SA has named William J. McDonough, former president of the Federal Reserve Bank of New York, as a member of its non-executive board.
Bernanke to join Paulson in China
Federal Reserve chairman Ben Bernanke will follow in the footstep of his predecessor, Alan Greenspan, by accompanying the US Treasury secretary to Beijing next month.
Malaysia holds rates as inflation moderates
As expected, Malaysia's central bank kept interest rates steady at 3.5% for the fifth meeting in a row on Friday. The central bank said lower oil and commodity prices, together with moderate domestic price and wage increases, were keeping inflation in…
Canada maintains inflation target for next 5 years
The Bank of Canada renewed its inflation target of 2%, measured as the change in the core consumer price index, with a symmetrical band of 1% either side, for the next five years.
Turkish rates stable despite high inflation
The Turkish central bank announced on 23 November that it will keep its policy rate unchanged at 17.5% and the lending rate at 22.5% after its penultimate monetary policy committee meeting for 2006.
Euro entry unpredictable - Hungarian CB chief
The National Bank of Hungary believes it is no longer possible to say when the country will be ready to join the euro.
SA's Trevor Manuel to lead G20
South Africa's veteran finance minister, Trevor Manuel, has called on the group of 20 (G20) finance ministers and central bank governors to "build windmills in the calm of current global financial stability."
SWIFT broke laws - EU committee
SWIFT, an international financial data transfer agency, breached European data privacy laws in handing over personal data to American investigators, according to a report by a European Union committee.
Korea raises reserve ratios
Korea's central bank will raise reserve requirements on short-term deposits by 40% next month, the governor, Lee Seong-tae, announced on Thursday.
Sri Lanka could grow at 8% in 2007
Sri Lanka's economy could grow at 8% in 2007 if the violence and security concerns in the country are reduced, the central bank governor said in an interview.
UK's Lomax a surprise dissenter in rate decision
Rachel Lomax, a deputy governor at the Bank of England, was a surprise dissenter at the rate-setting meeting in November, minutes released on Tuesday showed.
PBOC establishes South Pacific office in Sydney
The People's Bank of China (PBOC) announced the establishment of its representative office for the South Pacific in Sydney. The office started operation on November 19, 2006.