Central Banking
Malawi makes first rate cut in three years
The Reserve Bank of Malawi, the country's central bank, reduced its bank rate to 17.5% from 20% yesterday, encouraged by falling inflation and a strong economic turnaround.
Bernanke's prudent investments
Ben Bernanke, the chairman of the Federal Reserve, is a cautious investor, which a portfolio of financial assets consisting of mostly US Treasury securities, mutual funds and annuities.
Chinese capital controls
This working paper by the Bank for International Settlements finds that China's capital controls have allowed the authorities to retain some degree of short-term monetary autonomy, despite the fixed exchange rate.
Randall Kroszner testimony
In testimony during his confirmation hearing, Randall Kroszner, a member of the Board of Governors of the Federal Reserve, said the central bank has achieved much success in reducing and stabilising inflation and inflation expectations over the quarter…
Explaining inflation differentials
This working paper by the International Monetary Fund suggests that some central banks may aim at comparatively high inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalisation in their economies.
Banque de France - annual report 2006
Christian Noyer, the governor of the Banque de France, today presented the central bank's annual report to the country's president.
Italian government eyes reserves for debt payment
The Italian government is proposing to use part of the central bank's gold and currency reserves to pay down national debt, which is currently at 107% of the country's gross national product. The country's parliament has approved a resolution calls for…
Bank of Japan plans gradual share sale
The Bank of Japan is considering ways to limit the market impact of its move to start selling shares in the country's commercial banks, bought between November 2002 and September 2004, by October this year.
Thailand mulls external reserves managers
Tarisa Watanagase, the governor of the Bank of Thailand, says the central bank may outsource the management of part of its $73 billion reserve holdings to maximise investment returns.
China plans deposit insurance
The People's Bank of China is looking into the establishment of a deposit insurance scheme to protect depositors should a bank collapse.
Russian fund rakes in $3.4 billion
The Russian Stabilisation Fund, which manages part of the foreign-currency proceeds from the country's oil exports, earned more than R85 billion ($3.4 billion) in the year to 1 July.
China's first payment system development report
The People's Bank of China issued the first report on developments in the country's payment systems on Tuesday. The report reveals the progress, relevant data and the future policy orientation of the payment systems in the country.
Central Bank of Aruba - annual report 2006
Aruba's economy grew at the same rate as 2005 last year, the governor notes in his foreword to the annual report, and inflation accelerated.
Happy birthday Buba!
Germany's central bank celebrates its 50th birthday today, with a commemorative €10 coin to be issued next week and a series of events is planned.
Kroszner on Fed's supervision initiatives
In this speech, Randall Kroszner, a governor of the Federal Reserve Board, discusses the American central bank's current work to strengthen our support of minority-owned depository institutions and several ongoing supervisory and regulatory initiatives…
Unexpected tightening in Pakistan
Pakistan's central bank has unexpectedly raised its benchmark interest rate to its highest level in more than five years after inflation exceeded its target.
De Rato warns against private equity buy-outs
Rodrigo de Rato, the managing director of the International Monetary Fund, has warned against the dangers posed to global investment and growth prospects from the sharp rise in private equity buy-outs.
Indian cash reserve ratio increase
The Reserve Bank of India, the country's central bank, today left its key interest rates - the repurchase rate and the reverse repurchase rate - unchanged at 7.75% and 6% respectively, but increased the cash reserve ratio.
Zimbabwe issues new $200,000 note
The Reserve Bank of Zimbabwe has introduced the latest in a series of temporary banknotes which are intended to relieve a critical shortage of notes in the inflation-ravaged country.
Slovakian rates on hold
The board of Narodna Banka Slovenska, the central bank of Slovakia, decided keep current interest rates on hold after a meeting of the monetary policy committee.
IMF on euro area policies
A report by the International Monetary Fund on euro area policies, released on 31 July, said that the outlook for the region was the best in years, but stabilising inflation below 2% may imply further gradual tightening of monetary policy.
Philippines: e-rediscouting system
In a speech made on the launch of an electronic rediscounting system, Amando Tetangco Jr, governor of the central bank of the Philippines, said that the system would expand access to credit of countryside areas in the Mindanao region.
ECB on downward wage rigidity
A study published by the European Central Bank (ECB) on 31 July, has found that the number of industries affected by downward nominal wage rigidity in OECD countries increased between the 1970s and 1990s.
Geithner: challenges of global integration
Timothy F. Geithner, president of the Federal Reserve Bank of New York, said that there is growing concern in the US about long-term challenges facing the country, such as the perceived shift in the locus of economic growth away from the US toward Asia.