Central Banks
Hungary likely to miss inflation target - governor
Hungary's central bank is likely to undershoot its inflation target, admitted the governor, Andras Simor.
Bernstein: €9bn needed to save Danish banks
Nils Bernstein, the governor of the Danish central bank called on the public sector to provide Dkr70 billion (€9 billion) capital to the banking sector.
Lower inflation gives Manila scope to cut
Inflation in the Philippines fell by almost two percentage points, affording the central bank the opportunity to consider cutting rates further.
Romania's Isarescu on euro adoption
Romania's objective of joining the euro area in 2014 is within reach, said Mugur Isarescu, the governor of the National Bank of Romania.
Principles for sound stress testing
A new consultative paper from the Basel Committee on Banking Supervision presents sound principles for the governance, design and implementation of stress testing programmes at banks.
Balassa-Samuelson revisited
A new paper from the Bank for International Settlements finds that Balassa-Samuelson effects are clearly present in 11 euro accession countries and that these explain around 24% of inflation differentials vis-a-vis the euro area.
MPC minutes: Egypt
The Central Bank of Egypt's Monetary Policy Committee decided to keep rates unchanged at 11.5% owing to high inflation, the minutes of the meeting on 25 December explained.
India's central bank cuts again
The Reserve Bank of India cut rates by a percentage point for the second time in less than a month and eased deposit requirements for commercial banks in a bid to limit the impact of the financial crisis.
Euro adds to Slovakia's New Year celebrations
Slovakia became the 16th country to join the Eurosystem on New Year's Day, an achievement few predicted would happen so soon after it joined the European Union less than five years ago.
Polish policymaker flags half-point cut
Marian Noga, often portrayed as a hawk on the National Bank of Poland's ten-member rate-setting panel, said rates could be lowered by half a percentage point at the next meeting.
Korean rate setting to focus on recovery
Monetary policy will be geared towards restoring economic growth the Korean central bank said in a statement on monetary policy for 2009.
Heller on how crisis will impact payments and settlements
Nick Carver spoke with the new head of the secretariat of the Committee of Payment and Settlement Systems about the impact of the credit crisis on market infrastructure and how central banks will respond
Obama nominee underlines change at the Fed
The nomination of Daniel Tarullo, law professor at Georgetown University and regulation expert, to the Board of Governors of the Federal Reserve provides early evidence of the way the central bank is being reshaped in the aftermath of the financial…
Chilean paper on inflation persistence
This paper measures persistence of inflation in Chile and finds that it has increased sharply in recent years.
ECB warns of "downbeat attitude" on SEPA
The European Central Bank has published its sixth progress report on the implementation of the Single Euro Payments Area.
Iraq to cut rates
The Central Bank of Iraq has announced that it will reduce its key policy rate by 1 percentage point to 14%, starting next year.
UAE creates swap lines for local banks
The Central Bank of the United Arab Emirates (UAE) is to provide currency-swap facilities for the UAE dirham and the US dollar to local banks in a bid to inject more liquidity into the country's banking system.
Raza nominated to replace Akhtar
Saleem Raza, a former executive at Citigroup, has been nominated as the new governor of the State Bank of Pakistan, after the unexpected resignation of Shamshad Akhtar.
Italy names first female board member
Anna Maria Tarantola, the managing director of the Bank of Italy's banking and supervision unit, will replace Antonio Finocchiaro in the new year as deputy director-general at the central bank. In doing so, she will become the first woman to sit on the…
Eurosystem continues to shed staff
The number of central bankers in the 16 national central banks that now make up the Eurosystem stands at 46,123, a fall of 17.9% since 2003, reveals the 2009 edition of Central Banking Publications' Central Bank Directory.
Crisis calls for revision of LOLR role: economists
Central banks must broaden their remit as lenders of last resort in the wake of the crisis, two economists who advise central banks have said.
Poland slashes on signs of sharp slowdown
The National Bank of Poland made its steepest cut since January 2001 on Tuesday and cautioned that the country's economy was set for a sharper-than-expected slowdown.
China bids to breathe life into ailing economy
The People's Bank of China has cut its key lending and borrowing rates for the fifth time in three months in its quest to shore up faltering growth in the world's fourth largest economy. However, the move met with disappointment from market participants,…
Bubbles becoming ever-more frequent: BoJ head
Masaaki Shirakawa, the governor of the Bank of Japan, has noted that asset-price bubbles are becoming more and more frequent.