Central Banking
King's paper on current turmoil
The governor of the Bank of England, Mervyn King, presented a 10-page paper on the recent market turmoil and the Bank's response, to the British parliament's Treasury Committee prior to his testimony on 20 September.
BIS paper on house prices in emerging Europe
This BIS working paper examines the determinants of house price increases in central and eastern Europe.
Embattled King blames legislation for reticence
Mervyn King, the governor of the Bank of England, says the central bank is "hemmed in" by legislation, which "made it almost impossible for us to act as a lender of last resort in the way that I would prefer."
Fed unveils new $5 bill
The Federal Reserve, the American central bank, today unveiled a new, more secure design for the $5 banknote that will be issued and enter circulation in early 2008. A new $100 bill will follow.
Taiwan raises interest rates again
Taiwan's central bank raised its key interest rates by a further 12.5 basis points, after an increase of 25 basis points in June. The move brings the discount rate to 3.25%.
New assurances from Bernanke and Paulson
Ben Bernanke, chairman of the Federal Reserve, told the American Congress today that "significant market stress" had been caused by the credit crisis, but reiterated his assurances that regulators would move to curb fallout from the subprime mortgage…
Dollar drops to record lows against the euro
The dollar fell today to record lows through the $1.40 level against the euro. The American currency continued its slide after the Fed cut interest rates by 50 basis points earlier this week.
Bollard defends monetary policy framework
Alan Bollard, the governor of the Reserve Bank of New Zealand said yesterday that if the central bank were to aim for exchange rate stability the price to be paid would be big swings in interest rates.
New deputy governors for Bank Indonesia
Jakarta's local business newspaper, Bisnis Indonesia, has reported the appointment of two new deputy governors for Bank Indonesia, the country's central bank.
November for Poland's next rate rise?
Marian Noga, a policymaker at Poland's central bank, said in an interview that it is likely the bank will next raise rates in November with two hikes in the new year.
Australia's Payment Systems Board report - 2007
Australia's Payment Systems Board, which is chaired by the central bank governor, published its annual report for 2007 on Wednesday.
MPC minutes show 9-0 vote to hold rates
Minutes from September's meeting of the Bank of England's rate setting Monetary Policy Committee show that all the members were in favour of keeping the cost of borrowing at 5.75%.
Nyberg on monetary and financial stability
The interaction of monetary and financial stability is one of the most discussed issues in central banks and academia today, and is likely to remain high on the agenda for the foreseeable future, said Lars Nyberg, a deputy governor at Sweden's central…
Trichet's testimony to Parliament
The president of the European Central Bank, Jean-Claude Trichet, testified to the Euroepan Parliament's Economic and Monetary Affairs Committee earlier in the month.
Japan keeps rates on hold
The Bank of Japan's monetary policy board decided to keep rates on hold at 0.5%.
Knut Kjr quits Norway's oil fund
Knut Kjr announced his resignation as head of Norges Bank Investment Management (NBIM), which manages the country's oil-fuelled $330 billion pension fund and the bulk of the central bank's forex reserves.
Former Fed governor seeks gainful employment
In his memoirs, The Age of Turbulence, Alan Greenspan presents himself very much as a global leader; he hobnobs with former UK prime ministers Margaret Thatcher and Tony Blair, features the current prime minister, Gordon Brown, the president of China,…
Bank of England backtracks on money market tactics
In a remarkable about-turn, the Bank of England yesterday moved to inject liquidity into the longer-term money market by announcing plans to provide funds at three-month maturity against a wide range of collateral, including mortgages.
Bernanke's boost for global stock markets
Shares around the world surged on news of the Fed's half-point cut in interest rates.
Mervyn King - a governor in distress
No governor of the Bank of England in living memory - and very few governors of any industrial country - has come in for such an avalanche of media criticism as Mervyn King has suffered in recent days.
Bank funding: gone in 15 seconds?
Bank runs, once triggered, are set to become much quicker and less controllable in future.
Bank of England fights to restore financial order
The Bank of England has today lent £4.4bn ($8.8bn) of "exceptional" funds at its benchmark interest rate of 5.75% and says that it will offer the same amount on September 20 in seven-day debt.
Central banks are "just doing their job": Noyer
Christian Noyer, the governor of the Bank of France and a member of the governing council of the European Central Bank (ECB), made a strong defence of recent actions by central banks.
Treasury Committee calls for more MPC transparency
A report from the UK parliament's Treasury Committee, published Tuesday, says that the Bank of England should disclose how members of its rate-setting Monetary Policy Committee (MPC) voted at the same time as it announces its interest rate decisions.