Financial crisis
Central Bank of Kenya - Annual Report 2007/ 08
The Kenyan economy suffered major setbacks and inflationary pressures following the December 2007 election crisis, notes the latest Annual Report of the Central Bank of Kenya.
Turkey's Yilmaz in call for global LoLR
The most important lesson from the current financial turmoil is the need for a global lender of last resort, said Durmus Yilmaz, the governor of the Central Bank of Turkey.
Brazil's Meirelles: Bretton Woods needs a rethink
Both the International Monetary Fund (IMF) and the World Bank need to address their legitimacy as part of the policy debate on a Bretton Woods II, said Henrique Meirelles, the governor of the Central Bank of Brazil.
Turkey justifies November cut
The Central Bank of Turkey's rate-setting committee opted to cut rates earlier this month on signs inflation would fall more rapidly than expected, the minutes of the meeting reveal.
Why Canada avoided the worst of the crunch
Canada avoided the worst effects of the turmoil due to conservative lending practices of the country's banks, said Pierre Duguay, a deputy governor of the Bank of Canada.
ECB's Bini Smaghi: don't use the d-word
The term deflation is often misused as a catch-all phrase to describe every kind of negative development, said Lorenzo Bini Smaghi, a member of the European Central Bank's executive board.
Norwegian oil fund hit hard by crunch
The crisis in global financial markets has led Norway's Government Pension Fund to record its largest ever quarterly loss in the three months to September.
Rules must match lenience of lending: Fed's Lacker
A critical policy challenge in the aftermath of the credit crisis will be to re-establish the boundaries of central bank lending, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
EU regulators must work together: Swedish deputy
Barbro Wickman-Parak, a deputy director at the Riksbank, has said that the European Union (EU) organisations for supervision and crisis management need to be better coordinated.
Thailand's Nijathaworn calls for regulatory unity
Bandid Nijathaworn, a deputy governor at the Bank of Thailand, has called for domestic and international harmonisation of financial regulation in order to avoid the harmful arbitrage associated with the current turmoil.
Spain's Ordonez - monetary policy to blame
Miguel Fernandez Ordonez, the governor of the Bank of Spain, has blamed central banks' reluctance to raise rates in the wake of the dotcom crash as the principal cause of the current crisis.
Integration and openness vital: Italy's Draghi
Confronting the challenges posed by the current crisis requires greater integration and market openness, said Mario Draghi, the governor of the Bank of Italy.
Real and financial sector linked - Fed's Warsh
The US economy will recover sooner than expected if banks are willing to find new ways of lending, said Kevin Warsh, a governor at the Federal Reserve.
Markets obey laws of nature not math: NBB's Praet
The "once in a century" credit crisis demands a fundamental re-think in the way we view, and regulate, financial systems, Peter Praet, an executive director at the National Bank of Belgium and a member of the Basel Committee on Banking Supervision, has…
Philippine's Tetangco - links with US decisive
The macroeconomic impact of the current turmoil on Philippine's economy will depend on trade links with the United States, remittances and investments, said Amando Tetangco, the governor of the Central Bank of Philippines.
Riksbank board unanimous on cut
The executive board of the Riksbank unanimously backed a lowering of the repo rate by 50 basis points to 3.75%, the minutes of the 22 October meeting reveal.
Turkey explains October hold
The Central Bank of Turkey's rate-setting committee in October decided to keep rates on hold as the intensification of the financial turmoil called for a cautious approach, the minutes of the meeting reveal.
Czech currency protects economy - CNB's Singer
The Czech koruna cossets the economy from financial turmoil elsewhere, said Miroslav Singer, a vice governor of the Czech National Bank.
IMF: crisis calls for new statistics
Understanding the crisis may require out-of-the-box thinking on data, said Adelheid Burgi-Schmelz, the new director of the International Monetary Fund's (IMF) statistics department.
Bank calls for systemic risk re-think
The Bank of England on Tuesday called for a strengthening of cross-border crisis management, criticising the decision by some authorities to offer blanket guarantees on deposits.
Stay vigilant, SARB warns markets
Financial system authorities and participants must stay vigilant, and enhance efforts to improve resilience and contingency measures, states the latest Financial Stability Review from the South African Reserve Bank.
India impacted by global turmoil
Recent events in India's financial markets reflect adverse developments and extreme uncertainty in international financial markets, opines the latest macroeconomic and monetary development mid-term review from the Reserve Bank of India.
We were powerless to save Lehman, says Paulson
The US Treasury and the Federal Reserve had to let Lehman Brothers fail because the now-defunct investment bank did not have enough good collateral on its books to guarantee a Fed loan, Hank Paulson, the US treasury secretary, has said.
Bank's monetary-policy roundtable
The Bank of England has published a note summarising its first monetary policy roundtable, run jointly with the Centre for Economic Policy Research.