Central Banking
Poole replaced on Fed policy vote
In a surprise development, William Poole, the president of the St Louis Federal Reserve, did not vote on the Federal Open Market Committee (FOMC) policy announcement on recent market volatility.
Japan injects 1.2 trillion as Nikkei falls 5.4%
The Bank of Japan lent 1.2 trillion ($10.5 billion) to the markets Friday after draining 2 trillion Wednesday. The central bank's injection was made as market concerns over liquidity took the overnight lending rate above the central bank's 0.5% target.
UK regulator revamps enforcement division
The Financial Services Authority (FSA), the UK industry regulator, will offload a third of staff from its enforcement division as part of its shift from a rules to a principles-based regulatory framework.
Independence nothing new - Jamaican governor
Local media reports the governor of the Bank of Jamaica, Derek Lati-beaudiere, played down plans from the Jamaica Labour Party, the country's main opposition party, for an independent central bank.
Virtual bank collapse spurs calls for regulation
The failure of a bank that exists only in cyberspace has raised awareness of the lack of real world supervision to protect online investors.
The costs of being wrong about policy lags
This paper from an economist at the University of Oregon examines the losses associated with conducting monetary policy.
Bank of Estonia - Annual Report 2006
Estonia is highly unlikely to meet the Maastricht inflation criterion in 2007-09, notes the governor of Estonia's central bank in the annual report for 2006, but "we should maintain readiness to adopt the euro at the first opportunity," he says.
Bank of Canada Review - Summer 2007
The central bank's quarterly publication features three articles on labour supply, productivity and competition in the banking sector, respectively.
Canada extends collateral list to aid market
In a move to shore up liquidity, the Bank of Canada said Wednesday that it will expand the list of collateral eligible for use in special purchase and resale agreements.
Only 'calamity' justifies rate hike - Fed's Poole
William Poole, the president of the St Louis Federal Reserve, said the US economy may weather subprime woes and that only a "calamity" would lead to a rate cut before the next Federal Reserve meeting on 18 September.
South African Reserve Bank raises rates by 0.5%
The South African Reserve Bank has hiked rates to 10% to combat rising inflation.
RBNZ comments on liquidity provisions
Grant Spencer, the acting governor of the Reserve Bank of New Zealand, says the central bank would act if market conditions worsened, saying that the bank "stands ready to provide additional liquidity" if required.
Turkey holds rates
The Central Bank of the Republic of Turkey decided to keep its short-term interest rates unchanged on Tuesday.
Swedish Financial Market - 2007 review
The Swedish Riksbank has published the 2007 version of its annual review of the country's financial industry.
CEBS advises on liquidity risk management
The Committee of European Banking Supervisors, which acts as a consultant to the European Commission on banking policy issues, published the first part of its technical advice on liquidity risk management.
Canada investigates inflation, wages and growth
A new working paper published by the Bank of Canada looks at the relationship between steady-state costs of inflation in a general equilibrium model, output growth and staggered nominal price and wage contracts.
Sri Lankan governor on poverty and inequality
Aijith Nivard Cabraal, the governor of the Central Bank of Sri Lanka, said that poverty and equality "are often the root causes of political, economic and social upheaval, tension and revolution."
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Polish rates to rise soon
Halina Wasilewska-Trenkner, a monetary policy committee member at the National Bank of Poland, says interest rates will rise in either August or September this year.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Burundi appoints new governor
Gaspard Sindayigaya will replace the recently-arrested Isaac Bizimana as the new governor of the Central Bank of Burundi.
BoJ survey shows little change in public mood
A Bank of Japan poll found most consumers remain pessimistic about the country's economy.
Recent events indicate Argentine stability
Martin Redrado, the governor of the Central Bank of Argentina, said that recent market volatility showed the strength of the country's monetary and financial policy.