Central Banks

Chile surprises with one-point cut

The Central Bank of Chile surprised observers and markets with the size of the reduction in borrowing costs as data revealed that inflation plunged almost two percentage points in December.

Korea denies renminbi reserves interest

The Bank of Korea has issued a strong denial in response to a story claiming the central bank had looked into but ultimately rejected shifting some of its reserves into renminbi.

BoE - Credit Conditions Survey

UK lenders report rise in default rates and losses on lending to households and private non-financial corporations, says the Bank of England's Credit Conditions Survey for the last quarter of 2008.

Tanzania looks into new notes

The Bank of Tanzania is looking into printing new banknotes barely five years after the previous series was introduced.

Trichet defends summer rate hike

The European Central Bank (ECB) was right to raise rates by a quarter point in July as long-term inflation expectations threatened to become unanchored, Jean-Claude Trichet, the president of the European Central Bank, has said.

Fed justifies move to target range

The Federal Open Market Committee (FOMC) shifted from a key rate towards a target range owing to a lack of control over overnight market rates and to highlight the need to step up quantitative easing, the minutes of its December meeting reveal.

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