Central Banking
Russian economy may remain lethargic: BoF
If the credit turmoil persists, the Russian financial market is likely to remain lethargic, says a new article by the Bank of Finland.
Norway's Gjedrem: price stability tempers cycle
Monetary policy that is oriented towards stabilising inflation and price expectations will moderate the impact of bubbles and financial crises, said Svein Gjedrem, the governor of the Bank of Norway.
Canada's Murray on domestic credit markets
Strains in Canadian credit markets have been considerably less intense than those seen in the United States and elsewhere, said John Murray, a deputy governor of the Bank of Canada.
BoE's Dale: housing to impact banks
The deterioration in the housing market is likely to impact banks' balance sheets, leading them to tighten further the supply of credit, said Spencer Dale, the chief economist and a member of the Monetary Policy Committee (MPC) of the Bank of England.
Nordic banks and RBA join Fed swap club
The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.
HKMA counters rumours third-largest lender unsound
The Hong Kong Monetary Authority (HKMA) on Wednesday moved to placate fears that the Bank of East Asia, the territory's third-largest lender, is in trouble.
Iran appoints Bahmani as governor
Mahmoud Bahmani, the generally secretary of the Central Bank of Iran, is to take the helm after the sacking of Tahmasb Mazaheri, local media has reported.
Main Street feeling financial turmoil: Bernanke
Painting a bleak picture of the American economic landscape, Ben Bernanke, the chairman of the Federal Reserve, warned US lawmakers on Wednesday that events on Wall Street were beginning to impact the real economy.
Polish PM finally approves deputy nomination
Donald Tusk, Poland's prime minister, will give the nod to Witold Kozinski to become a deputy president at the country's central bank despite earlier misgivings regarding the economist's stance on currency intervention.
Asia needs tightening
There may not be a meaningful reduction in inflation rates without policy tightening in Asian economies, finds new research from the Hong Kong Monetary Authority.
BoJ: money markets still edgy
Global money markets remained nervous in the first half of 2008, according to the newest financial markets report from the Bank of Japan.
More banks will fail if we don't act: Paulson
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, the US Treasury secretary, have told lawmakers that a failure to rush through proposals for the purchase of up to $700 billion-worth of distressed assets would cripple the US economy.
Banks favour Frankfurt for dollar auctions
Results of the European Central Bank's (ECB) and Bank of England's dollar auctions indicate the Frankfurt-based institution's operations are attracting more bids because of its more lenient collateral rules.
South African inflation hits record high
South African inflation accelerated to 13.6% in the year to August, the highest level since the government began to compile the data in 1998.
Demand for one-month Fed money soars
The results of the latest of the Fed's Term Auction Facility operations signals the extent to which US banks are becoming ever more reluctant to lend to their counterparts.
Systemic banking crises - a new database
A paper from the International Monetary Fund presents a new database on the timing of systemic banking crises and policy responses to resolve them.
Kuwait on standby to inject funds - reports
The Central Bank of Kuwait has said it is ready to pump funds into the country's banking system, local media reported Tuesday.
BoE's Gieve warns of crunch's deflationary impact
Sir John Gieve, the deputy governor responsible for financial stability at the Bank of England, has warned that the Bank must consider the deflationary consequences of the credit crisis.
FDIC's Bair: foreclosures impact whole economy
Minimising foreclosures is important to the broader effort to stabilise global financial markets and the US economy, said Sheila Bair, the chairman of the Federal Deposit Insurance Corporation (FDIC).
Reserve Bank of Australia - Annual Report 2007
The sound position of local banks was a major source of strength for the Australian financial system during last year, said Glenn Stevens, the governor of the Reserve Bank of Australia, in the foreword the central bank's latest Annual Report.
Bank of England's September minutes
The minutes from the September meeting of the Monetary Policy Committee show most members judged maintaining the current rate necessary to bring inflation back to target.
Finland advocates price-level targeting
A new paper published by the Bank of Finland makes the case for moving to price-level targeting.
Goldmans, MS abandon model, seek Fed shelter
And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.
Tehran ousts central bank governor
Mahmoud Ahmadinejad, Iran's president, has sacked Tahmasb Mazaheri, the governor of the country's central bank, after just 12 months in charge, state media reports.