Central Banking
Central Bank of Guinea - Annual Report 2005
The Guinean economy expanded by 3.3% in 2005 after growing by 2.7% the previous year.
Gulf reserves set to top $2 trillion
If global oil prices remain high, foreign exchange reserves in the six Gulf Cooperation Council (GCC) countries will exceed $2 trillion by the end of this year.
Fed's Bernanke supports fiscal package
Ben Bernanke, the chairman of the Federal Reserve, told United States lawmakers on Thursday that he would support plans for a fiscal package to encourage growth so long as it was implemented quickly, was efficient and was temporary.
Speculation of ECB cut builds on Mersch comments
Comments by Yves Mersch, a member of the European Central Bank's (ECB) governing council, have fuelled speculation that the central bank is set to adopt a more dovish monetary policy stance.
Merrill reports $8.6 billion loss for 2007
Merrill Lynch, an investment bank, on Thursday reported $11.5 billion-worth of subprime-related writedowns for the fourth quarter of 2007, taking its losses for last year to $8.6 billion. The bank recorded losses for the fourth quarter alone of 2007 was …
Sri Lanka holds rates at 10.5%
The Central Bank of Sri Lanka's rate-setting board voted to keep rates at 10.5% for the 11th month in a row on Thursday.
Norway's SWF must export ethics cautiously: Gjedre
Managers of the Bank of Norway's Global Pension Fund must tread carefully when trying to fulfil the sovereign fund's ethical requirements in foreign markets, said Svein Gjedrem, the governor of the central bank.
Fed's Beige Book charts modest growth increase
The latest edition of the Federal Reserve's Beige Book, published on Wednesday, suggests a slowdown in the pace of growth during November and December.
Central Bank of Uruguay - Annual Report 2006
High demand in foreign markets and low interest rates domestically boosted the Uruguayan economy in 2006.
Structural change responsible for Great Moderation
The so-called 'Great Moderation' in macroeconomic volatility in the United States since the mid-1980's was down to structural change rather than good luck, research published by the Centre for Economic Policy Research finds.
IMF to review central bank response to turmoil
The International Monetary Fund (IMF) is set to investigate the reaction of leading central banks to the interbank turmoil that hit markets in the wake of the subprime crisis.
Central African MPC holds first meeting
The Bank of Central African States's monetary policy committee held its first meeting last Friday in Yaounde, the capital of Cameroon.
Canadian banks may not match central bank cut
Some of Canada's biggest commercial banks say they are considering leaving borrowing rates unchanged even if, as expected, the Bank of Canada cuts rates next Tuesday.
Emirates must cooperate on inflation: Al-Suwaidi
Sultan bin Nasser al-Suwaidi, the governor of the Central Bank of the United Arab Emirates, said on Tuesday that officials in all of the emirates had to work on curbing soaring inflation, but warned against tampering with exchange rates.
Thailand holds rates at 3.25%
The Bank of Thailand's monetary policy committee voted on Wednesday to keep rates at 3.25% in spite of rising inflation.
Paper highlights influence of Taylor rule
The rise in influence of the Taylor rule, which shows how monetary policy should adjust to ensure growth and inflation remain near target levels, played an important part in the shift towards a more transparent, more independent era of central banking,…
Reserve Bank of Tonga - Annual Report 2006/07
The Tongan economy contracted during the 2006/07 financial year by 3% to 4%, plagued by substantial economic shocks.
Philippines's Tentangco notes strong performance
The Filipino economy achieved the ideal confluence of high growth and low inflation in 2007, said Amando Tetangco, Jr, the governor of the central bank.
Interbank borrowing reduces bank risk
Long-term interbank exposures result in lower risk for the borrowing banks, research published by the Centre for Economic Policy and Research finds.
GIC and Kuwaiti SWF invest in Citi
Citi, the world's biggest bank, revealed on Tuesday that the Government of Singapore Investment Corporation (GIC) and the Kuwait Investment Authority were part of a group of investors involved in a $12.5 billion capital injection.
Merrill confirms Kuwaiti and Korean involvement
The Kuwait Investment Authority and Korean Investment Corporation became the two latest sovereign wealth funds to capitalise on banks' subprime losses, buying into Merrill Lynch, an investment bank.
Fed and BoE auction results show interbank easing
Tensions in money markets showed further signs of abating on Tuesday after the Federal Reserve and the Bank of England revealed the results of their latest open-market operations.
Greenspan joins Paulson & Co
Alan Greenspan, a former chairman of the Federal Reserve, is set to advise Paulson & Co, a hedge fund which made billions last year from betting against the United States housing market.
Fund manager knocks Bank's role in Rock saga
Philip Richards, the chief executive of RAB Capital, one of two hedge funds that are the biggest shareholders in Northern Rock, the beleaguered mortgage lender, attacked the Bank of England and its governor, Mervyn King, for its handling of the credit…