Central Banking
Numbers of central bankers continue to rise
The 2008 edition of Central Banking Publications's Central Bank Directory, the annual guide to the world of central banking, estimates the number of central bankers in the world at 348,865, a marginal 0.2% increase over last year. This maintains last…
Turkey slashes policy rate to 15.75%
The Central Bank of the Republic of Turkey's rate-setting committee voted on Thursday to cut its benchmark overnight interest borrowing rate from 16.25% to 15.75%.
Kenya leaves rates at 8.75%
The Central Bank of Kenya's rate-setting committee voted on Thursday to hold the benchmark Central Bank Rate at 8.75%.
Imbalances to gradually decline despite turmoil
The unwinding of global imbalances is still likely to continue gradually in spite of the increased risks posed by the recent financial turmoil, says John Lipsky, the first deputy managing director at the International Monetary Fund (IMF).
Nepal Rastra Bank - Annual Report 2005-2006
Nepal's real GDP grew by 2.3 % in the 2005 to 2006 period.
Emerging Asia impacts commodity price trend
Industrial activity in emerging Asia appears to have become, since 1997, a stronger driver of oil and commodity price movements than business cycle trends in developed economies.
Financial crisis has affected eurozone stability
Uncertainty surrounding financial stability in the euro area has heightened as a result of the recent financial turmoil, Lucas Papademos, the vice president of the European Central Bank, confirmed on Thursday.
Officials praise central bankers' collaboration
Central bankers and politicians across the globe offered swift and unanimous approval for Wednesday's concerted effort to inject liquidity in a bid to counter dogged interbank tensions.
Joint effort failing to counter interbank tension
Interbank rates stayed high and markets plummeted on Thursday in spite of the collective action launched by five of the most powerful central banks on Wednesday.
Chinese monetary policy "influenced by US cuts"
Zhou Xiaochuan, the governor the People's Bank of China, said that the recent rate cuts by the Federal Reserve, together with rising domestic consumer prices, would have "considerable influence" over Chinese monetary policy.
UAE governor wants to stay on
Reports that Sultan Nasser al-Suweidi, the governor of the Central Bank of the UAE, was planning to step down when his four-year term ends next week, to be replaced by Saeed Mubarak Rashid al-Hajeri, chairman of Abu Dhabi Commercial Bank, have been…
Russia to trade on stock exchanges
The Russian government has passed a law which will permit the Central Bank of Russia to trade securities on the over-the-counter market and on stock exchanges.
Cooperation can't get to root cause of crunch
The central banks' coordinated attempt to bring interbank rates down may alleviate liquidity pressures, but not the mistrust the lies at the core of the crunch, says Avinash Persaud, the chairman of Intelligence Capital, a financial advisory firm.
BoE's Paul Tucker on global credit crunch
Paul Tucker, executive director for markets at the Bank of England and a member of the monetary policy committee, at a speech on Thursday, analysed the difficulties facing central banks in correctly diagnosing changes in credit conditions and asset…
ECB Financial Stability Review - December 2007
The European Central Bank (ECB) noted that with financial systems undergoing a process of de-leveraging and re-intermediation, the uncertainty surrounding the financial stability outlook for the euro area has heightened and could persist for a…
Fischer outlines Israel's economic agenda
The objective of the Bank of Israel's economic agenda should be rapid and sustained growth, Stanley Fischer, the governor of the central bank, said.
Central banks collaborate to ease interbank woe
In one of the most significant co-operative central banking efforts of modern times, five of the world's most powerful monetary authorities joined forces in a bid to restore order in the interbank markets.
Yngve Slyngstad new head of Norway's SWF
Yngve Slyngstad will take over from Knut Kjr as head of Norges Bank Investment Management, which looks after the Global Pension Fund, Norway's sovereign wealth fund.
Zhou parries calls for imbalances adjustment
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank would not allow for a faster appreciation of the renminbi to reduce global imbalances.
Norway raises rates by 25 basis points
The Central Bank of Norway's rate-setting executive board voted on Wednesday to increase its benchmark sight deposit rate by a quarter of a percentage point to 5.25%.
Riksbank appoints new financial stability deputy
Lars Frisell is set to become the new deputy head of the financial stability department at the Riksbank in mid-December.
Rock raises lender of last resort issue for EU
One important aspect of the Northern Rock crisis in the UK has been to make market participants wonder what would happen if a similar-sized institution got into difficulties in a small or medium-sized EU member state.
Bank loans an offer Italy's criminals can refuse
Italy's underground economy does hold back financial deepening, research published by the Bank of Italy finds.
Carry trade returns high but losses heavy
Though carry trades in various Asian currencies tend to outperform major stock markets, there is a relatively high frequency of large negative returns, research published by the Bank for International Settlements finds.