Central Banks

Canada cuts rates further

Canada's central bank cut its key interest rate by a quarter-point on Tuesday, saying the country's economy needs the stimulus to ward off the effects of a recession in the United States.

India cuts rates by 1%

The Reserve Bank of India slashed its key short-term lending rate by a full percentage point on Monday. It was the central bank's first reduction in rates since March 2004.

Czech banknote wins prize

The International Association of Currency Affairs, an industry body, has announced that the Czech National Bank (CNB) was the runner-up in its Banknote of the Year award for the 1000-krone banknote, issued in April this year.

Bank reforms money market operations

The Bank of England set out plans for three major reforms of its money market operations, including proposals for two new facilities aimed at alleviating the tensions that have kept prices for interbank loans well above historical norms.

Tokyo finally nominates deputy

The Japanese government has nominated Hirohide Yamaguchi for the role of deputy governor at the central bank, a position left vacant since March.

OTC derivatives central counterparty issue urgent

The Financial Stability Forum, a collection of central bankers and financial regulators, has urged market participants to swiftly establish a central counterparty for over-the-counter (OTC) credit derivatives, in its follow-up report on enhancing market…

Trichet: joint action sets precedent

Monday's decision to provide broad access to liquidity and unlimited dollar funding marked a "world premiere" in exceptionally-confident cooperation between central banks, Jean-Claude Trichet, the president of the European Central Bank (ECB), has noted.

MPC's Sentance: downturn risks on the rise

Severe stresses in the financial system and the news from the real economy have certainly increased the risks of a bigger and more sustained downturn, said Andrew Sentance, a member of the Bank of England's Monetary Policy Committee.

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