Central Banking
Bank of Latvia - Annual Report 2007
Ilmars Rimsevics, the governor of the Bank of Latvia, praised Riga for implementing inflation-curbing measures, in the central bank's latest Annual Report.
Economists back Bernanke
Private-sector economists have come out in strong support of Ben Bernanke, the embattled chairman of the Federal Reserves, suggesting that the new Obama administration should reappoint him in January 2010.
Draghi supports move to expand FSF
The chairman of the Financial Stability Forum (FSF) has welcomed calls by the finance ministers and central bank governors of the G20 to expand the group's membership.
Bernanke "ready to take additional steps"
Ben Bernanke, the chairman of the Federal Reserve, says policymakers around the world will remain in close contact as "challenges remain for the global economy."
Eurozone in recession
The eurozone is in recession following the release of official statistics on Friday that showed that its economy contracted for the second quarter in a row.
Fed's Kohn: macro models wrong
Macroeconomic models used by central banks to inform their monetary-policy decisions are clearly inadequate, admitted Donald Kohn, the vice-chairman of the Federal Reserve.
Banks not saved for their sake - Sveriges Ingves
We are not saving banks and their management for their own sake or the sake of their shareholders, said Stefan Ingves, the governor of the Sveriges Riksbank.
Crisis myths true - Boston's reply to Minneapolis
A new paper from the Boston Federal Reserves takes issue with a recent paper from the Minneapolis Fed's that found four widely-held beliefs about the financial crisis of 2008 to be false.
Oil prices, fiscal policy and business cycle
In countries with a large oil sector relative to the rest of the economy, oil price changes affect the economic cycle through fiscal policy, finds a new paper from the International Monetary Fund.
Pakistan lifts rates to stem crisis
The State Bank of Pakistan raised interest rates by 2% in an attempt to control inflation, which has spiralled to 25%.
Nowotny blasts "lead supervisor" approach
Ewald Nowotny, the governor of the Austrian central bank, has strongly criticised the so-called "lead supervisor" approach to the regulation of global banks.
El-Erian sees "very bumpy road" ahead
Mohamed El-Erian, one of the world's most successful investors and a former deputy director at the International Monetary Fund (IMF), says the current crisis underlines the fact the infrastructure did not support the activities taking place in financial…
SWF growth to slow
Stephen Jen, an economist at Morgan Stanley, has adjusted downward his estimate of the growth of sovereign wealth funds in the coming years.
Oslo's lesson in restoring confidence
The lessons from Norway's response to the crisis in its banking system in the early 1990s have been under underappreciated.
Scrap bonuses - Basel Committee's Wellink
Bonuses for executives in the financial sector could be scrapped altogether, said Nout Wellink, the president of the Netherlands Bank and the chairman of the Basel Committee on Banking Supervision.
Pakistan's Akhtar: inflation alert
High inflation is hurting Pakistan's competitiveness and eroding the purchasing power of the poor, said Shamshad Akhtar, the governor of the State Bank of Pakistan.
EMU reduces domestic political shocks impact
Economic and monetary union (EMU) has helped reduce the impact of political shocks on the economy of member states, finds a new paper from the European Central Bank.
Outstanding CDSs decline
Multilateral terminations of outstanding contracts resulted in the first ever decline in the volume of outstanding credit default swaps (CDS) since December 2004, reports Bank for International Settlements.
Russia raises rates to help the rouble
Russia's central bank has hiked its key interest rate by 100 basis points to 12% in an attempt to reduce an outflow of money and curb the decline in the value of the rouble.
ECB collateral to include non-euro debt
The European Central Bank (ECB) will for the first time accept European bonds denominated in dollars, sterling and yen as collateral as of 14 November, the central bank said on Wednesday.
Paulson continues Tarp U-turn
Henry Paulson, the US secretary of the treasury, has signaled a further shift in the way the administration will use the $700 billion at its disposal under the Troubled Asset Relief Program (Tarp), by saying purchasing bad assets from financial…
Bank of England sees deep recession
The Bank of England sharply adjusted its outlook for growth and inflation in the British economy, saying it was "very likely" that the UK was already in a recession that could last until 2010.
Slovakia rates to keep up with the ECB
The National Bank of Slovakia (NBS) on Tuesday decided, at an irregular monetary meeting, to cut its key rate by half a point to 3.25%.
Historic shift for financial sector - Fed's Warsh
We are witnessing perhaps the fastest, most significant structural shift in the history of the financial services sector, said Kevin Warsh, a governor at the Federal Reserve.