Central Banking
Fed keeps rates at 5.25% for 12th month
The Federal Reserve held interest rates steady 28 June, citing "modest" improvements in recent inflation readings. Fed rates have now remained at 5.25% for 12 months.
Unexpected rate hike in Poland
Poland's central bank surprised market with a second rate hike for this year on 28 June, citing concerns that wage growth will force companies to boost prices.
Bank of England MPC members explain decisions
The testimonies of individual members of the Bank of England's rate-setting monetary policy committee (MPC) before the Treasury select committees on 28 June, provided some clues as to the timing of further tightening.
Czech rates on hold, hikes to follow
The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central…
Brazilian CB raises growth outlook
Brazil's central bank raised its economic growth forecast as 16 consecutive rate cuts and low inflation fuels consumer spending.
Albanian rates up by 0.25%
Albania's central bank raised interest rates by 25 basis points to 5.75% on 28 June. The central bank's governor, Adrian Fullani, said the risk of inflation had grown stronger lately, prompting the central bank's board of directors to act.
Basel II and financial institution resiliency
Remarks by Nout Wellink, governor President of the Netherlands Bank and Chairman of the Basel Committee on Banking Supervision, at the "Risk Capital 2007" conference in Paris.
HKMA's Yam on renminbi bonds
Renminbi-denominated bonds in Hong Kong are part of a bigger picture for both Hong Kong and the Mainland, writes Joseph Yam.
Fed to streamline cheque processing
As consumers shift to electronic payments, the Federal Reserve Banks set out plans to streamline cheque processing.
RBA's Lowe on the 2007/08 review of payments
Speaking at the 4th International Consumer Credit Card Summit in Sydney, Philip Lowe set out the Payment System Board's plans for its review this year.
RBNZ may continue to sell its dollar - deputy gov
Grant Spencer, deputy governor of the Reserve Bank of New Zealand said on 27 June that the central bank may continue selling its domestic currency, now trading at its highest level in more than two decades.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
Brazil extends inflation target of 4.5% to 2009
The National Monetary Council of Brazil has extended the central bank's annual inflation target of 4.5% to 2009, which it says will provide policymakers with the "flexibility" to deal with unexpected price increases.
Inflationary pressures building - Fund
Inflationary pressures are "definitely building up" according to Simon Johnson, economic counsellor and director of research with the International Monetary Fund.
IMF worried about wealth fund obscurity
The International Monetary Fund has added its voice to the growing number of international financial institutions and public policy entities calling for greater transparency in the activities of sovereign wealth funds.
ECB independence not in question - Juncker
Jean-Claude Juncker, the president and minister of finance of Luxembourg, said on 27 June that the finance ministers of the eurozone do not question the independence of the ECB.
BoE annual report
The Bank of England (BoE) published its 2007 annual report on 25 June. Highlights include a 77% rise in the bank's annual profit in the last financial year and the launch of the Adam Smith £20 note.
ECB on euro bonds and derivatives
The European Central Bank (ECB) has published a report on "The euro bonds and derivatives markets" on 26 June.
IMF: Romania Article IV consultation
The IMF on 25 June released the staff report and public information notice regarding the conclusion of its Article IV consultation with Romania. The Fund projected 7% (baseline) growth of real GDP in 2007, down from 7.7% (preliminary estimate) in 2006.
Bank of Canada: Financial System Review
The Bank of Canada published, on 21 June, the latest issue of its biennial "Financial System Review."
Slovakia keeps rates steady
All key interest rates were left unchanged by the board of the National Bank of Slovakia at its regular monthly meeting on 26 June.
Bank of Israel leaves rates unchanged
The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.
Chicago Fed's National Activity Index improves
The Federal Reserve Bank of Chicago announced on 25 June that its gauge of the national economy, the National Activity Index, although negative in May, was stronger than it was a month ago because as a number of indicators showed an improvement.
Fed under fire in Washington over supervision
In spite of the successes of his first 16 months in office, the relations of Ben Bernanke, the chairman of the US Federal Reserve, with the American Congress are deteriorating as the country's central bank is threatened with having some of its authority…