Interest rates
SARB inflation target seen as out of reach
SOUTH AFRICA - Consumer inflation surprised on the upside last month, fuelling expectations that the Reserve Bank's targets for next year are getting out of reach, though Business Day reports economists said they did not expect interest rates to rise…
RBA's Macfarlane signals rates may head higher
AUSTRALIA - Reserve Bank Governor Ian Macfarlane on Wednesday delivered an upbeat view of the Australian economy, warned of a looming shakeout in property and signalled that the bank remains on course to raise interest rates once global uncertainties…
Greenspan keeps his nerve
ARTICLE - More mixed economic data appear to support Alan Greenspan's cautious decision not to cut interest rates any further for the time being, reports the Economist magazine on Friday. But this week the Fed admitted that stockmarket jitters have…
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 31 July and 1 August 2002. The minutes showed members of the Bank of England unanimously voted to leave interest rates on hold at the 31 July-1 August meeting. The members…
MPC voted unanimously to hold UK rates
UK - The Bank of England's Monetary Policy Committee discussed the case for a cut in interest rates at its August meeting, according to the minutes of its meeting published on Wednesday.
RBA report says rates may rise again
AUSTRALIA - The Reserve Bank of Australia expressed confidence on Monday that recent market volatility would have only a minor effect on the world economy and signalled it stands ready to raise interest rates again once current uncertainty passes.
Norges Bank keeps interest rates unchanged
PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 7 August 2002.
Australia leaves rates steady
AUSTRALIA - Australia's central bank left interest rates unchanged Wednesday, amid global volatility on the financial markets and warning signs about the strength of the U.S. economic recovery.
No interest rate change in Norway
NORWAY - Norway's central bank kept key interest rates on hold on Wednesday, as expected by analysts, with inflationary pressures in Norway's oil-backed economy offset by an international slowdown.
UK interest rates left on hold
UK - UK interest rates have been left on hold for the ninth month running at 4%, their lowest level for 38 years.
Interest rates in europe left unchanged
GERMANY - The European Central Bank on Thursday kept interest rates unchanged for the ninth month in a row amid uncertainty over the impact of turbulent financial markets and a stronger euro on Europe's slowly recovering economy.
Bank of England News Release
News Release - Bank Of England Maintains Interest Rates at 4.0%, 1 August.
Czech interest rates cut to stem rise of currency
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates to lower than in the eurozone, in an attempt to halt the headlong appreciation of the country's currency.
Lower inflation in Australia
AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.
Thai central bank keep rates unchanged
THAILAND - The central bank's Monetary Policy Committee yesterday kept short-term interest rates unchanged, noting that recent data pointed to steady recovery in manufacturing and consumption.
UAE central bank profits fall
UAE - A steep decline in interest rates slashed the net profits of the UAE central bank by nearly a third in 2001, reports Gulf News, but its deposits with other banks almost doubled, its balance sheet showed.
One opposed last UK rate decision minutes reveal
UK - The men and women who set interest rates in the UK earlier this month voted overwhelmingly in favour of leaving interest rates unchanged at 4%, minutes of the rate decision meeting show.
BofE chief George saved from letter to chancellor
UK - The prospect of an imminent rise in interest rates receded yesterday after an unexpectedly sharp fall in underlying inflation to its lowest level for at least 27 years.
Chile's central bank cuts rates by 75 points
CHILE - Chile's central bank said on Thursday it cut interest rates by 75 basis points to 3.25 percent in a further attempt to stimulate sluggish consumer spending.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 4 July.
Norges Bank Press Release
PRESS RELEASE - Norges Bank increases interest rates, 3 July.
Interview with Professor JK Galbraith
INTERVIEW - The UK's Independent newspaper published an interview with the 93 year old economist John Kenneth Galbraith on Monday. In the interview Galbraith describes the belief that central bank's can control the economy simply by tweaking interest…
RB of New Zealand criticised by finance minister
NEW ZEALAND - The Reserve Bank of New Zealand's management of monetary policy came under attack from the country's finance minister Michael Cullen today when he alleged that it was failing to interpret the bank's written policy agreement with the…
Brazil's central bank pays to keep money at home
BRAZIL - Brazil's central bank, seeking to stem an outflow of money from the country, offered banks the ability to swap local currency interest rates for dollar-linked yields.