Central Banking
Bulgarian National Bank - Annual Report 2006
The Bulgarian economy performed well in 2006, growing by 6.1%.
Norges Bank - Financial Stability Report 2/2007
The Norwegian economy is expected to remain stable even though the turmoil in the money and credit markets will continue to hamper banks, the Bank of Norway's latest financial stability report says.
Central banks failing to calm interbank markets
Interbank borrowing costs in the sterling, euro and dollar money markets shot up on Monday in spite of attempts by central bankers last week to alleviate end-of-year jitters.
Injections pose no moral hazard risk: ECB member
In spite of the Bank of England's claims to the contrary, moral hazard should not be an issue in deciding whether or not to inject extra funds into the money markets, a member of the European Central Bank's (ECB) executive board said on Monday.
Chavez defeat allows central bank some freedom
The Central Bank of Venezuela will not face further limits on its autonomy for now after Hugo Chavez, Venezuela's president, was narrowly defeated in a referendum on constitutional change.
Trichet pushes for regulatory convergence
Progress towards more consistent EU banking rules and cross-border information sharing is absolutely critical, Jean-Claude Trichet, the president of the European Central Bank, said on Monday.
Kazakhstan raises rates by 200 basis points
The National Bank of Kazakhstan's rate-setting board voted on Friday to hike its benchmark official refinancing rate by two percentage points to 11%.
Boston Fed blames subprime on house price decline
In conducting what it calls "the first rigorous assessment of the homeownership experiences of subprime borrowers", the Boston Federal Reserve has found that the decline in house prices that began in the summer of 2005 is the factor most responsible for…
No clear answer on when Japan will raise rates
Toshihiko Fukui, the governor of the Bank of Japan, emphasised on Monday that uncertainty still clouds the central bank's rate outlook.
Central Bank of Bolivia - Annual Report 2006
The Central Bank of Bolivia just about managed to keep inflation within the 3% to 5% target range in 2006.
Subprime standardisation can help: Fed's Kroszner
Randall Kroszner, a Federal Reserve governor, said last Friday that he is hopeful efforts to standardise loan-modification options and processes for subprime loans will help lenders, investors, homeowners, and communities faced with potential mortgage…
Bernanke keeps door open for rate cut
The Fed chairman's concern over the effects of renewed turmoil in financial markets lent weight to expectations of a rate cut in December.
ECB makes new bid to calm end-of-year fears
The European Central Bank (ECB) responded to panic in the interbank markets on Friday by pledging to lend over longer periods.
SARB policies here to stay regardless of Zuma
Tito Mboweni, the governor of the South African Reserve Bank, moved to assure markets on Thursday night that inflation targeting would remain whether or not the South African presidency changed hands.
Pre-crunch poll supports Basel II stability claim
The introduction of the Basel II regulatory framework, which has faced a barrage of criticism in the wake of the credit crunch, will make the financial system sounder and encourage better risk management, according to a poll conducted the Professional…
Norway's oil fund avoids FX after recent losses
The Bank of Norway said it would not buy foreign exchange for its sovereign wealth fund, the Government Pension Fund, in December. The announcement follows news that Nkr104.4 billion ($18.9 billion) was knocked off the value of the fund, a store of the…
Mishkin wants changes to lead to medium-term focus
Frederic Mishkin, a governor at the Federal Reserve, said on Thursday that he hopes the decision to increase the frequency and expand the content of the central bank's economic projections will stop Fed watchers' obsessive focus on where rates are…
Banking Authority of Kosovo - Annual Report 2006
The performance of the Kosovan economy vastly improved in 2006, with growth of 3%, up from 0.3% the previous year.
HK's Yam on ominous central bank injections
Joseph Yam, the chief executive of the Hong Kong Monetary Authority, said on Tuesday that the continued need for central banks to inject extra funds was "not a good sign."
Jury still out on global saving glut theory
New research published by the Reserve Bank of Australia finds limited support for the argument that financial crises have contributed to the current-account surpluses in developing economies.
Old Lady changes tack and steps in with £10bn
The Bank of England said on Thursday that it would lend an extra £10 billion ($20.7 billion) at its benchmark bank rate to allay fears that interbank borrowing costs will shoot up over December.
UK's King gloomy on economic conundrum
Mervyn King, the governor of the Bank of England, said on Thursday that the economic outlook is "uncomfortable" because the problems of the credit crisis are now coupled with burgeoning inflationary pressures.
Eurozone growth stat charts biggest fall this year
A measure of the economic outlook in the euro area indicated on Thursday that growth in the region slowed sharply in November.
UAE governor denies revaluation rumour
Sultan Bin Nasser Al-Suwaidi, the governor of the Central Bank of the United Arab Emirates, on Thursday moved to deny reports that the central bank would allow the value of the dirham to rise by up to 5% on Sunday.