Central Banking
Big rate hike in Serbia
The National Bank of Serbia has raised its key policy rate to 15.25% from 14.5%. Radovan Jelasic, the governor of the central bank, said the move came in response to rising inflation, caused by growing salaries, record oil prices and political crisis.
Swiss join calls for bank pay reform
Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank, has urged a complete rethink of commercial banks' corporate governance and pay schedules in the wake of the credit crisis and recent trading scandals.
Rustamov explains Azerbaijani rate move
An increase in interest rates from 13% to 14% on 10 April will not have a direct impact on banks' rates, according Elman Rustamov, the chairman of the National Bank of Azerbaijan.
Sentance: pound matters for monetary policy
The weakening pound is adding to the upward pressures on costs and prices from global markets, said Andrew Sentance, a member of the Bank of England's rate-setting committee, in a speech to the Confederation of British Industry.
Poland monetary policy cautious about hot money
The National Bank of Poland decided to raise the key interest rates by 25 basis points after resisting a 50 basis points rise, the minutes of the March monetary policy council meeting show.
A firm-wide view of risk exposure crucial
Risk concentrations at most financial conglomerates are still mainly identified, measured and managed within separate risk categories and business lines, notes the Joint Forum of the Basel Committee on Banking Supervision in a new review.
Canada's economic outlook
The deterioration in economic and financial conditions in the United States will have direct consequences for the Canadian economy, said Mark Carney, the governor of the Bank of Canada, at a press conference following the release of April's monetary…
New Zealand softens stance
The Reserve Bank of New Zealand kept rates on hold for the eighth-straight month on Thursday but signalled it may cut in the second half of 2008.
PPI measure adds to SARB's woe
South African producer price inflation (PPI) soared by 2% in February, leaving the year-on-year measure at 11.8%, data published on Thursday showed.
Lehman creates new role to woo SWFs
Lehman Brothers, an investment bank, has appointed Makram Azar, formerly the head of its media, consumer and retail investment banking businesses in Europe and the Middle East, to the new position of global head of sovereign wealth funds.
Norway raises rates to 5.5%
The Bank of Norway raised rates for the first time this year on Thursday on fears that inflation was set to breach its 2.5% target.
SARB - Financial Stability Review March 2008
Despite strong economic growth, Africa still faces a number of downside risks that could impact negatively on financial stability, the South African Reserve Bank states in its latest Financial Stability Review, published on Thursday.
Fed would examine SWF bank takeovers
The Federal Reserve would investigate any sovereign wealth fund taking a controlling interest in a US bank, Scott Alvarez, the general counsel at the central bank, said.
BoE's Jenkinson on liquidity risk
Developments in financial markets have increased the importance and complexity of liquidity risk management over the past decade, said Nigel Jenkinson, the executive director responsible for financial stability at the Bank of England.
Achieving cost effectiveness: Brazil's experience
The Central Bank of Brazil has published a detailed case study on how it implemented a new system of identifying and monitoring costs.
Romanian rates high enough: governor
Mugur Isarescu, the governor of the National Bank of Romania, said on Wednesday that rates were high enough to tackle inflation.
SA inflation surpasses 10% mark
South African inflation surged to its highest level since December 2002 last month, heightening the need for the country's central bank to act against political opposition and raise rates further.
Banque de France posts record profit
The Banque de France's profit surged to a record high of €2.32 billion ($3.69 billion) last year.
Three-way split underlines Bank's dilemma
The Bank of England's April vote saw members of the Monetary Policy Committee (MPC) backing three separate options for the first time since May 2006, minutes of the meeting published on Wednesday reveal.
Australian inflation hits seven-year high
Australian inflation soared to its highest level since June 2001, raising expectations that the country's Reserve Bank will be forced to hike rates again next month.
Are US exchanges too tough on Canadian firms?
Canadian firms are more likely than most to be involuntarily de-listed from a major US exchange, research published by the Bank of Canada shows.
Ireland's Hurley confident on outlook for 2008
The Irish economy and its banking sector will continue to demonstrate their strength against the background of a challenging international environment this year, John Hurley, the governor of the Central Bank & Financial Services Authority of Ireland,…
Don't shun Asia: Singapore deputy
Investors have to take a longer term view and continue to chase opportunities in Asia in spite of the subprime crisis in the United States denting confidence, Lim Hng Kiang, the deputy chairman of the Monetary Authority of Singapore, said.
ECB Annual Report 2007
The third enlargement of the euro area, which took place on 1 January 2008 when Cyprus and Malta adopted the single currency, occurred in a smooth and efficient manner, Jean-Claude Trichet, the president of the central bank said in his introduction to…