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Fed cut a psychological boost but little more

At face value, Tuesday's Federal Open Market Committee statement was an historic move that underlined the US central bank's commitment to do all it can to counter the crisis. But, though the statement met with widespread approval from the markets, it…

Norway slashes rates on "major shocks"

Norges Bank has followed the Riksbank's lead in chopping 175 basis points off its key rate. Exposure to "new major shocks" sparked the move, which leaves the central bank's key rate at 3%. Elsewhere, three other central banks cut their key rate by 50…

Russia, Nigeria devalue, shun "losing battle"

The Nigerian and Russian central banks have both said that they will allow their currencies to depreciate to protect their reserves stockpile. The actions signal Moscow and Abuja have acknowledged that the real values of their currencies have weakened in…

Impact of retail market structure on prices

Changing retail market structure in the Czech Republic was responsible for an average yearly decrease in prices of 0.8 percentage point during 2000-05, this paper from the Czech National Bank finds.

Trinidad and Tobago's Williams on SME

The small- and medium-sized enterprise (SME) sector is a major provider of employment in the domestic economy, said Ewart Williams, the governor of the Central Bank of Trinidad and Tobago.

Hildebrand calls for restrictions on leverage

Philipp Hildebrand, the vice-chairman of the Swiss National Bank (SNB), said excess leverage was the main cause of financial fragility and the current global banking crisis, and called for restrictions on leverage ratios.

Norway to tap oil wealth

The Norwegian is expected to spend more of its oil revenues to avoid a severe recession, and might draw on the assets of its $332 billion (£222 billion) sovereign wealth fund to finance a new fiscal spending package.

UK inflation falls as King writes letter

British inflation fell in November but remains far above the Bank of England's target, obliging Mervyn King, the governor of the central bank, to write another letter explaining why inflation remains so high and what the Bank is doing to bring it down.

BoE survey confirms household squeeze

The results of a survey of household finances, published on Monday by the Bank of England, finds that 71% of British homeowners and tenants have experienced declines in their disposable income in September compared with the same month last year.

IMF to cut growth forecast

The International Monetary Fund (IMF) will cut its forecast for growth in the global economy in 2009, its managing director said.

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