Interest rates
Reserve Management in an Era of Low Returns
RESEARCH - Although central banks have traditionally conducted their reserves management in a conservative and risk-averse way, the very low interest rates we see now have caused central banks, like other fixed income investors, to search for higher…
Reserve Bank of New Zealand Press Release
PRESS RELEASE - The Reserve Bank has decided to leave the Official Cash Rate unchanged at 5.75 per cent. In addition, the Bank's projections show no change in short-term interest rates over the period ahead - reflecting the Bank's sense that the risks…
Taiwan's central bank cuts key rate to record low
TAIWAN - The Central Bank of China (CBC) announced Monday a further cut in its key interest rates by a quarter percentage point with the aim of defusing the threat of falling prices and maintaining export competitiveness.
Curb inflation, not economy - Tito Mboweni
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Thursday that interest rates may have peaked, saying the fight against inflation must not jeopardise the health of the overall economy.
Central bankers do it their way
ARTICLE - It is as well that central bank actions are not co-ordinated. The US Federal Reserve has a clear bias towards stimulus and preventive action, as its half-point cut in interest rates this week shows.
Polish gov't worried about overvalued currency
POLAND - The Polish government continues to believe that the zloty is overvalued and interest rates too high, Prime Minister Leszek Miller said Wednesday.
Fed shocks with half point but signals easing over
US - The U.S. Federal Reserve on Wednesday slashed interest rates by a sharp half percentage point to new four-decade lows to try to reignite the recovery, but signalled it planned no more cuts any time soon.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 7 November.
ECB Press Release
PRESS RELEASE - At today's meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 3.25%, 4.25…
ECB refuses to join Fed rate cut for now
GERMANY - The European Central Bank left interest rates unchanged on Thursday, opting not to join the U.S. Federal Reserve in monetary easing aimed at propping up the faltering global economy.
RBA holds interest rates steady again
AUSTRALIA - The Reserve Bank of Australia, in a widely anticipated response to a worsening global economy and the growing impact of the drought, announced on Wednesday that it had decided to leave interest rates on hold for a fifth month.
The Fed should cut next week
ARTICLE - The US economy is growing around trend, unemployment is at its lowest post-recession peak for decades, the housing market is firing on all cylinders - and the financial markets are expecting the Federal Reserve to cut interest rates to a 40…
Czechs cut interest rates for fifth time this year
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates for the fifth time this year in a new attempt to stimulate faltering domestic economic growth and slow the rapid appreciation of the Czech koruna.
Thailand's credit card rate to be capped at 18%
THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.
Norges Bank Press Release
PRESS RELEASE - Norges Bank keeps interest rates unchanged, 30 October.
Expectation increases of UK interest rate cut
UK - The odds against a cut in interest rates before the end of the year have shortened sharply after it emerged that three members of the Bank of England's monetary policy committee voted for a cut earlier this month.
ECB Working Paper Series
RESEARCH - 'Monetary policy and the zero bound to interest rates: a review', by Tony Yates, October 2002. The paper reviews the literature on what the zero bound to nominal interest rates implies for the conduct of monetary policy. A situation familiar…
Bank of Canada's Dodge softens rate hike stance
CANADA - David Dodge, the Bank of Canada governor, said yesterday economic growth would likely ease over the next three quarters so interest rates need not be raised as quickly as previously thought.
Brazil central bank raises interest rates to 21%
BRAZIL - Brazil's central bank yesterday sought to stave off a growing financial crisis by raising overnight interest rates by 3 percentage points to 21 per cent. The increase followed renewed pressure on the Real, the country's currency, before a likely…
How fiscal and monetary policy stifle the eurozone
ARTICLE - For Wim Duisenberg yesterday (10 October), attack was the best form of defence. Explaining the European Central Bank's decision to leave interest rates unchanged at 3.25 per cent, despite the dark clouds gathering over Europe's economy and…
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 10 October.
SARB Monetary Policy Review - October 2002
REPORT - The South African Reserve Bank has published its October Monetary Policy Review. The report reflects on increased inflationary pressures in the South African economy following the depreceiation of the rand in the latter half of 2001.
SARB-South Africa's inflation outlook has improved
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Tuesday that interest rates may not rise again in November, saying the country's inflation outlook had improved "significantly".
IMF's Kohler calls for ECB rate cut
EUROPE - International Monetary Fund Managing Director Horst Koehler said the European Central Bank should cut interest rates soon to help boost the economy.Koehler said he believes a drop in rates would stimulate growth, adding that central bankers must…