Central Banking
Nigeria acts to counter likely inflationary surge
The Central Bank of Nigeria has raised rates and its cash requirement ratio on concerns that inflation could soar in the coming months.
Inflation target appropriate: Hungary's Simor
Andras Simor, the governor of the National Bank of Hungary, has defended the central bank's 3% inflation target in the face of political opposition.
Turkish inflation back in double digits
The Central Bank of Turkey looks set to hike rates again after inflation rocketed to 10.74% in the year to May, up from 9.25% the previous month.
Sri Lanka waives ban on foreign accounts
The Central Bank of Sri Lanka will allow foreigners to open accounts with the country's commercial banks in a bid to close the domestic savings gap and foster growth.
Boston Fed's subprime facts
The Boston Federal Reserve's research into subprime mortgages has so far uncovered seven facts relating to the crisis.
Turbulence hits Norwegian banks
Norwegian banks face tougher conditions as a result of the considerable turbulence in global money and credit markets, the country's central bank noted in its latest Financial Stability Review.
SA Mboweni voices agflation fears
Agflation has serious implications for South Africa's poor and unemployed, Tito Mboweni, the governor of the country's Reserve Bank, stressed.
India's Thorat on the limits of financial literacy
Financial literacy can lead to informed and responsible consumers, but it cannot by itself ensure consumer protection, said Usha Thorat, a deputy governor at the Reserve Bank of India.
ECB celebrates 10th birthday
The European Central Bank (ECB) reached double digits on Sunday and marked its tenth anniversary with a ceremony and concert on Monday.
Bank of Italy to close eurozone branches
The Paris, Brussels and Frankfurt branches of the Bank of Italy will shut by the end of this year.
Iranian news agency closed over governor reports
The Iranian authorities have ordered Fars, one of the country's biggest news agencies, to shut down for three days following the publication of reports over the future of Tahmasb Mazaheri, the governor of the Central Bank of Iran.
ECB may need to refine collateral policy: Paramo
A member of the European Central Bank's (ECB) governing board has said the institution should consider revising the range of collateral it accepts in its open market operations.
Finland to showcase 100 kilo gold coin
The Bank of Finland's museum is to display the world's largest gold coin for one day only.
Keep a closer eye on money markets: Fed's Kohn
The recent financial market turmoil has shown that greater attention should be paid to money markets, Donald Kohn, the vice-chairman of the Federal Reserve, says.
Restrict money issuance to foster stability
Pouring central bank money into Latin American financial systems in times of uncertainty fails to promote economic stability, research published by the International Monetary Fund states.
FSF proposals require careful implementation
The Financial Stability Forum's (FSF) recommendations must be implemented in such a way that ensures financial systems becomes less prone to instability, Nout Wellink, the governor of the Netherlands Bank, comments.
Incentives the root cause of the crunch
Perverse incentives were the major cause of the current turmoil and changing those incentives will be the solution, an article published by the International Monetary Fund notes.
Markets "far from normal": Fed
Ben Bernanke, the chairman of the Federal Reserve, has stressed that "conditions in financial markets are still far from normal", although liquidity in several market segments has improved and the central bank's interventions have helped to relieve…
Japan struggles to fill board vacancies
The ruling Liberal Democratic Party (LDP) has stuck with its controversial nomination of Kazuhito Ikeo to fill one of the two positions on the nine-member policy board of the Bank of Japan.
CLS adds peso and shekel to settlement fold
CLS bank announced that it will settle payment instructions in the Mexican peso and Israeli shekel this week, bringing the number of currencies processed by the bank to 17.
Traded range of Russian ruble to be widened
Sergei Ignatyev, the chairman of the Russian central bank, says the central bank will slowly widen the traded range of the ruble as the central bank moves to adopt inflation targeting.
Former RBA governor calls for inflation re-think
Bernie Fraser, a former governor of the Reserve Bank of Australia (RBA), says the central bank might have to re-think its use of interest rates to combat inflation if food and fuel prices continue to rise.
Malaysia relaxes foreign currency rules
Bank Negara Malaysia, the country's central bank, has relaxed a number of rules for the administration of foreign currency.
Mboweni on the crunch
Tito Mboweni, the governor of the South African Reserve Bank, said "the fact that we have not had to be concerned about liquidity and financial stability issues has allowed the Bank to continue focussing on its objective of bringing inflation back to…