Central Banking
Two papers on banking efficiency
The Philadelphia Federal Reserve has published two papers looking at recent evidence on how banks can achieve optimal efficiency.
UK MPC voted 8 - 1 in favour of rate hold
David Blanchflower was the only member of the nine-strong Bank of England Monetary Policy Committee to object to the decision earlier this month to hold rates at 5.5%, opting instead for a 25 basis point cut.
Fed slashes rates by 75 basis points
The Federal Open Market Committee (FOMC) on Tuesday lowered rates by 75 basis points to 3.5%, the biggest cut since autumn 1984.
Canada cuts rates by 25 basis points to 4%
The Bank of Canada's rate-setting board opted on Tuesday to lower its benchmark overnight rate by 25 basis points to 4%.
Crunch prompts Serbia to review reserves strategy
The National Bank of Serbia has shifted to a more conservative reserves policy in the wake of the credit crunch, Radovan Jelasic, the governor of the central bank said on Friday.
Chinese economist to get senior role at World Bank
In a move set to strengthen ties between the big emerging economies and the Bretton Woods institutions, the World Bank is to appoint Justin Lin, a Chinese economist, as its chief economist.
Japan keeps rates at 0.5%
The Bank of Japan's rate-setting board opted on Tuesday to hold rates at 0.5%.
No more law talk - Israel's Fischer
No more time should be wasted talking about the new Bank of Israel law, said Stanley Fischer, the governor of the central bank.
ECB must take into account openness of eurozone
Empirical evidence published by the Centre for Economic Policy Research contradicts the assumption that the euro-area works as a closed economy, which is used by the European Central Bank (ECB) to model optimal monetary policy.
SNB's Jordan on uncertainty
Monetary policy decision-makers must be aware of uncertainty and the limitations of their knowledge, said Thomas Jordan, a member of the governing board of the Swiss National Bank.
Royal Monetary Authority of Bhutan: Ann Rep 06-07
2006 saw the signing of an agreement between India and Bhutan, which facilitates the flow of funds and manpower resources from India for the construction of hydropower projects in the kingdom.
Rock-bond plan could pay off Bank loan
The British Treasury underlined its commitment to finding a private sector bidder for Northern Rock on Monday, publishing details of a strategy that would require no upfront repayment of the £26 billion ($50.6 billion) owed by the beleaguered mortgage…
Global stocks plummet on US recession fears
Shares in Asia and Europe plunged on Monday amid concern that a United States recession would hit global growth. The Toronto stock exchange was also down by more than 4% at midday trading.
Brown calls for IMF and World Bank reform
The Bretton Woods institutions must adapt to fit the new global economic order where "contagion can move as swiftly as the fastest communication", said Gordon Brown, the British prime minister.
Mexico holds rates at 7.5%
The Bank of Mexico's rate-setting board voted on Friday to keep rates at 7.5%.
Banking risks must be considered together
The impact of credit and interest rate risk, the two most important dangers faced by commercial banks, must be measured jointly, research published by the Bank of England finds.
Tax rules hamper Italian investment funds
Tax treatment severely handicaps Italian investment funds with respect to their foreign competitors, said Mario Draghi, the governor of the Bank of Italy.
Bank governance strengthened by independence
Independent directors at commercial banks can provide an important internal governance mechanism for protecting shareholders' interests especially in large-scale transactions such as mergers and takeovers, research published by the Kansas City Federal…
Central Bank of Comoros
The growth rate of Comoros's economy dipped slightly in 2006 to 2.4% from 2.8% the previous year.
Tony Solomon, former NY Fed president, dies
Anthony M. Solomon, a former president of the Federal Reserve Bank of New York, died last Friday, at the age of 88.
Fisher urges Fed to avoid "trigger-happy" cuts
Having an itchy trigger finger with monetary policy risks shooting everyone in the foot, said Richard Fisher, the president of the Dallas Federal Reserve.
ECB poll notes tighter borrowing conditions
In the wake of the credit turmoil, banks have become far less willing to lend to both households and businesses, a European Central Bank (ECB) survey reveals.
Poor growth will curb inflation: Fed's Pianalto
The impact of the housing crisis on the rest of the United States economy will help dampen price hikes, says Sandra Pianalto, the president of the Cleveland Federal Reserve.
British MPC faces tough choices warns deputy Gieve
The Bank of England's monetary policy committee (MPC) faces difficult decisions in the months ahead because of the dual threat of slowing growth and rising inflation, said Sir John Gieve, the deputy governor responsible for financial stability.