Financial Stability
RBNZ comments on liquidity provisions
Grant Spencer, the acting governor of the Reserve Bank of New Zealand, says the central bank would act if market conditions worsened, saying that the bank "stands ready to provide additional liquidity" if required.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Recent events indicate Argentine stability
Martin Redrado, the governor of the Central Bank of Argentina, said that recent market volatility showed the strength of the country's monetary and financial policy.
Trichet claims markets close to normal
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that the current "period of market nervousness" is coming to an end.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
Japan injects 1.6 trillion into money markets
The Bank of Japan injected 1 trillion ($8.4 billion) into the money markets Friday and 600 billion Monday in an effort to counter shockwaves triggered by the US subprime crisis.
Central banks' use of websites in the crisis
Central banks have been using their websites in novel ways during the crisis. On 13 August, the New York Fed put the following notice up:"The Desk will evaluate whether it needs to inject additional cash into the banking system at its normal operating…
Statements on liquidity injections
The Federal Reserve Bank of New York released a brief statement regarding its intervention to inject liquidity into the markets. It said it is providing liquidity to facilitate the "orderly functioning of financial markets" and will provide reserves as…
ECB intervenes in money markets
The European Central Bank (ECB) injected tens of billions into the money markets on Thursday amid growing concerns over illiquidity.
Recent developments in US subprime
The International Monetary Fund has published a working paper called "Money for Nothing and Checks for Free: Recent Developments in US Subprime Mortgage Markets."
Slovenia's Kranjec: subprime may hurt EU
Marko Kranjec, the governor of the Bank of Slovenia, has said the US subprime mortgage crisis could affect eurozone consumer demand. His comments appear to contradict those of other members of the European Central Bank's (ECB) governing board.
IMF board backs global imbalances plan
The board of the International Monetary Fund (IMF) has backed a plan for conducting multilateral surveillance aimed at reducing global imbalances.
New Zealand breaks with the Brash era
Going for growth will come back to haunt the Reserve Bank and its governor, writes Rodney Dickens
A crisis of identity
The loss of its managing director could not have come at a worse time for an IMF looking to remodel itself. Klaus Engelen reports
How to manage system risks
Many central banks can forget best-of-breed solutions for IT systems. Terry Beadle offers some realistic proposals
Does the global output gap matter?
Recent studies point to the increasing importance of global economic forces for domestic inflation. But policymakers are far from convinced, writes Assistant Editor Malan Rietveld
News analysis: Gulf economies: divided we stand
Kuwait’s decision to loosen its dollar peg may herald an era of greater national economic independence in the Gulf, writes Narayan Lakshman.
Scorecard for Bulgaria’s currency board
After ten years of running under a new law, Bulgaria’s central bank can be proud of its record, writes Steve Hanke
China's first payment system development report
The People's Bank of China issued the first report on developments in the country's payment systems on Tuesday. The report reveals the progress, relevant data and the future policy orientation of the payment systems in the country.