Central Banking
EMU has led to increased stability and convergence
Monetary union has led to increased stability and convergence of financial markets in euro area, a new paper from the CEPR finds.
Trinidad & Tobago -- Annual Report 2006
Trinidad & Tobago's economy grew by 12% in real terms, the central bank reports.
Allan Meltzer dismisses calls for Fed action
The following article by Allan H. Meltzer, university professor of political economy at Carnegie Mellon, and a member of Central Banking's editorial board, was published in the Wall Street Journal on September 15. It provides an incisive analysis of the…
Launch the lifeboats? Not likely!
The closest parallel to the rescue of Northern Rock is the secondary banking crisis which erupted at the end of 1973 and which brought down a whole string of so-called "secondary" banks. That financial crisis, like this one, was preceded by a long period…
Bank of England moves to aid mortgage lender
The Bank of England said on Friday that it would provide a liquidity support facility for Northern Rock, a UK mortgage lender.
Canada's Dodge repeats calls for transparency
David Dodge, the governor of the Bank of Canada, underlined his argument that a lack of transparency was behind the recent turmoil on Friday.
Turkey makes surprise rate cut
The Central Bank of the Republic of Turkey unexpectedly decided to lower interest rates by 25 basis points on Thursday.
Chile raises rate
The Central Bank of Chile decided on Thursday to raise its interest rate by 25 basis points to 5.75%.
China raises rates again
The People's Bank of China decided on Friday to raise rates for the fifth time since March in order to curb rising inflation.
King and Reddy to speak on India
Mervyn King, the governor of the Bank of England, and Y.V. Reddy, the governor of the Reserve Bank of India, will discuss the future of the Indian economy in an event at the London School of Economics on 15 October.
Norwegian deputy predicts lower bank profits
Jarle Bergo, the deputy governor of the Central Bank of Norway, said on Thursday that conditions in the property and money markets were likely to drive down commercial banks' profit margins.
South African Reserve Bank - Annual Report 2006/07
Tito Mboweni, the governor of the South African Reserve Bank, noted the importance of transparency in his foreword to the central bank's latest annual report.
Volcker critical of World Bank integrity unit
Paul Volcker, a former chairman of the Federal Reserve, has lambasted the World Bank's governance and anti-corruption strategy.
Bank of England injects £4.4 billion extra
The Bank of England loaned £4.4 billion ($8.9 billion) more than the forecast reserves target on Thursday after promising to do so last week if overnight lending rates remained high.
Bank of Finland lines up academic for board
Seppo Honkapohja, a professor of macroeconomics at the University of Cambridge, is set to join the board of the Bank of Finland for a five-year term beginning January 2008.
New Zealand holds rates
The Reserve Bank of New Zealand decided to keep its benchmark official cash rate (OCR) at 8.25% on Thursday.
SNB adjusts three-month inter-bank target
The Swiss National Bank said on Thursday that it was increasing its three-month Libor (London inter-bank offered rate) by 25 basis points to 2.75% in an effort to calm the Swiss franc money market.
SA reveals rate hikes are paying off
The South African Reserve Bank's monetary policy appears to be working as inflationary pressures dampened in the quarter to September.
Links between ownership, market structure and risk
The relationship in developing countries between banks' risk of failure, market structure, their ownership, and screening and bankruptcy costs is investigated in an International Monetary Fund paper published on Wednesday.
National Bank of Georgia - Annual Report 2006
The Georgian economy grew by 9.4% in 2006. But end-of-year inflation was well above the 6% upper boundary of the target range at 8.8%.
India's Reddy discusses monetary policy
Y.V. Reddy, the governor of the Reserve Bank of India, said that the central bank's monetary policy would alter if turmoil in the financial markets threatened the country's economic stability.
King refuses to aid markets
Mervyn King, the governor of the Bank of England, said on Wednesday that he believed providing additional liquidity against a wider range of collateral and over longer periods "sows the seeds of a future financial crisis".
Bank of Italy closes more than a third of branches
The Bank of Italy said on Wednesday that it will close 33 of its 97 branches as part of the reorganisation of its network.
Bosnian CB must improve vastly to meet EU level
The EU said on Wednesday that the Central Bank of Bosnia and Herzegovina (CBBH) needed to make "significant progress" in order to meet the trade bloc's standards.