Financial crisis
Global economy to shrink by 0.5-1%: IMF
The International Monetary Fund (IMF) has again lowered its growth estimates, saying that it now sees a contraction of 0.5% to 1% in global activity.
BoJ pledges up to 1 trn in subordinated loans
The Bank of Japan is to offer its banks subordinated loans worth up to 1 trillion ($10.1 billion) to bolster its banking sector, crippled by the recent slump in equity prices.
Fullani highlights main risks to Albania
The drop-off in remittances and a tightening of financing conditions are the main threats from the global crisis to the Albanian economy, said Adrian Fullani, the governor of the country's central bank.
Stiglitz laments US's "bogus" bailouts
Joseph Stiglitz, the 2001 Nobel Laureate, tells CentralBanking.com why the US administration must set up its own lender and stop pandering to the banks if it is to fix the economy.
Brazil cuts to record low to boost sluggish growth
The Central Bank of Brazil cut its core interest rate, Selic, by 150 basis points on Wednesday after data out Tuesday indicated Brazil was much more vulnerable to the global economic crisis than previously assumed.
Recovery a long way off: Wellink
Despite strong interventions, recovery of the banking system seems a long way off, said Nout Wellink, the president of the Netherlands Bank and chairman of the Basel Committee on Banking Supervision.
De Grauwe fears beggar-thy-neighbour policies
A lack of coordination between the world's leading central banks in the current crisis raises concerns over a return to beggar-thy-neighbour policies, a leading European economist has argued.
Nordic crunch's key lesson: avoid party politics
The Nordic credit crisis in the 1990s revealed that a united stance by politicians is crucial in averting a financial meltdown, the head of the Bank of Finland's research department has said.
China's Zhou promises rapid action if needed
Zhou Xiaochuan, the governor of the People's Bank of China, has pledged to act speedily and forcefully to prevent a slump in confidence during the financial crisis.
ECB's Bini Smaghi: go easy with easing
It is unsound to ease monetary policy too much too soon, even when insuring against the worst-case deflationary scenario, said Lorenzo Bini Smaghi, a member of the European Central Bank's executive board.
National Bank of Kazakhstan - Annual Report 2007
In 2007, the National Bank of Kazakhstan gave priority to financial rather than price stability, says the central bank in its latest Annual Report.
Crisis impacting low-income countries: DSK
Third wave of the crisis is hitting low-income countries, said Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF).
New Zealand will suffer, says Bollard
New Zealand's economy has its strengths but it will not escape unscathed from the global crisis, Alan Bollard, the governor of the Reserve Bank of New Zealand, has warned.
Central bank liquidity abates crisis but not risk
Central banks' liquidity provision can manage a liquidity crisis but cannot tackle the roots of liquidity risk, posits a new paper form the European Central Bank.
Financial order changing - Macedonia's Goshev
The global financial crisis is going to reshape the international financial architecture, said Petar Goshev, the governor of the National Bank of Macedonia.
Lessons from the crisis for central bank management
Central banks and regulators have failed, argues John Mendzela. Here are seven lessons to help management improve performance and promote cultural change.
When liquidity and reserve management collide
Ludeˇk Niedermayer analyses the challenges in coordinating market operations and reserve management during the crisis
Reserves and the crisis: a reassessment
Joshua Aizenman analyses the different approaches to the use of reserves during the crisis and what this means for the global financial system
Interview: Paul De Grauwe
The major central banks have responded differently to the global financial and economic crisis, threatening a return to beggar-thyneighbour policies, Paul De Grauwe tells Malan Rietveld
What payments experts have learned
Payments experts have learned a lot about liquidity risk and lender of last resort from the crisis, explained Daniel Heller, the new head of the influential CPSS Secretariat in Basel.
Forex reserves not perfect insurance - IMF's Kato
High levels of foreign-exchange reserves can not fully insure against a sudden stop of capital inflows, said Takatoshi Kato, a deputy managing director of the International Monetary Fund.
Emerging markets should watch fiscal positions
Emerging-market economies should pay off their debts sooner rather than later, posits new research from the Bank of England.
Look to Stockholm for bailout tips: Cleveland Fed
A Cleveland Federal Reserve study has urged officials to follow Sweden's lead in resolving the financial crisis.
Crisis must prompt risk-management reassessment
A new wave of transformation in the standards of risk management is now a priority, Andrew Haldane, the executive director responsible for financial stability at the Bank of England, has said.