Central Banking
France to ECB: lead charge for derivatives market
Christine Lagarde, the French finance minister, has called on the European Central Bank to spur efforts to set up a eurozone-wide financial infrastructure for derivatives, further scuppering US efforts to create a global market for the instruments.
UK inflation still in letter-writing territory
British CPI inflation in the year to December was 3.1%, down a full percentage point from the November figure but still significantly above the Bank of England's 2% target.
SWF nations poor on governance: SF Fed's Glick
A considerable gulf exists between the governance standards of the economies in which sovereign wealth funds have been established and the standards of the industrial economies in which they are seeking to invest, a paper co-authored by Reuven Glick, the…
Borrowing costly despite cuts: Zambia's Fundanga
The cost of borrowing in Zambia continues to be high despite policy efforts, said Caleb Fundanga, the governor of the Bank of Zambia.
Canada sees rates hit all-time low
The Bank of Canada cut its key rate to 1%, the lowest level in the central bank's 75-year history, on Tuesday and said that headline inflation would fall below zero later this year. However, the move was not enough to satisfy some in the markets who were…
Mary Schapiro: Here Comes the Sun
In recent months, the US Securities and Exchanges Commission (SEC) has been on the receiving end of severe criticism. Mark Berman, a former SEC lawyer who leads CompliGlobe Ltd, a London-based consultancy specialising in financial regulation and…
Trichet calls for a new economic paradigm
A paradigm change in the global economy is needed, said Jean-Claude Trichet, the president of the European Central Bank.
Bank granted new powers to aid markets
The Bank of England has been given new powers, including the potential to undertake quantitative easing, as part of renewed efforts to safeguard the financial system, announced by the British Treasury on Monday.
IMF lends to El Salvador, Serbia
The International Monetary Fund (IMF) on Friday said it would loan more than $1 billion to Serbia and El Salvador to ward off the threat of financial instability.
Saudi, UAE cut by 50 basis points
The Saudi Arabian Monetary Agency (SAMA) and the Central Bank of the United Arab Emirates (UAE) both cut their benchmark rates by half a point on Monday on signs that growth in the two economies, both of which rely heavily on oil exports, will slow in…
Tuvalu applies for IMF membership
Tuvalu is looking to become the 186th member country of the International Monetary Fund (IMF).
Serbia's Jelasic: savings a priority
An increase in domestic savings should be key domestic priority in 2009, said Radovan Jelasic, the governor of the National Bank of Serbia.
Hungary cuts on fears of "sharp downturn"
The National Bank of Hungary on Monday lowered rates for the third time since the start of December on signs of a more severe-than-expected economic slowdown.
London's lifelines lack coherence
The dangerously mixed messages underlying the British government's rescue attempts threaten to derail efforts to secure stability, argues Robert Pringle, the editor-in-chief of Central Banking journal.
Monetary policy should consider intermediaries
The size of the balance sheets of market-based financial intermediaries are important macroeconomic state variables for monetary policy, finds a paper published by the New York Federal Reserve.
SNB's Jordan: recession unavoidable
A recession appears unavoidable for the Swiss economy in 2009, said Thomas Jordan, a member of the governing board of the Swiss National Bank.
Zim to set denomination record for issued note
The Reserve Bank of Zimbabwe is to introduce the highest-ever denomination issued note - worth Z$100 trillion.
Dublin nationalises third-largest lender
The Irish authorities on Thursday took control of Anglo Irish, the country's third-largest lender, on fears that negative market sentiment could spark a run on the bank.
BoA rescued as Congress grants $350bn for Tarp
Washington has granted Bank of America, the United States's third-largest lender, up to $138 billion in federal aid on signs that a batch of assets taken onto the lender's balance sheet following its buyout of failed investment bank Merrill Lynch could…
Basel Committee bids to strengthen Basel II
The Basel Committee on Banking Supervision on Friday issued a string of draft measures aimed at enhancing the Basel II capital framework in light of the credit crunch.
Turkey slashes to record low as growth slumps
The Central Bank of Turkey on Thursday chopped two percentage points off its benchmark rates, taking the measures to their lowest-ever levels.
BoE's Gieve: market signals mixed
The fortunes of the financial markets in the New Year have been mixed, said Sir John Gieve, the deputy governor of the Bank of England.
Hard-to-value assets halt investment - Fed's Kohn
The large quantity of hard-to-value assets remaining on financial institutions' balance sheets is acting as a barrier to private investment, said Donald Kohn, the vice-chairman of the Federal Reserve.
Government should not give in to fear
The government should not capitulate when the public shows an excessive fear towards risk, says a new paper from Harvard's John F. Kennedy School of Government.