Economics

Markets plunge on recession fears

Confirmation of a sharp contraction in the UK economy and fears of a similarly grim outlook elsewhere sparked a global sell-off in equities and commodities on Friday.

SA's Mboweni challenges IMF and World Bank

Tito Mboweni, the governor of the South African Reserve Bank, has lashed out at the Bretton Woods institutions, labelling them vehicles for developed economies to control developing and emerging-market countries.

Obama turning to ex-Fed's Volcker on economy

Barack Obama, the Democratic candidate for the United States presidency, is increasingly relying on Paul Volcker, a former chairman at the Federal Reserve, for advice on the economy, reports suggest.

Interbank rates ease further

The cost of borrowing three-month funds in interbank markets on Tuesday extended the declines registered over the preceding six trading days.

Russia in currency-swap clampdown

With rouble under increasing strain, the Central Bank of Russia has announced stringent new limits on the maximum amount of currency swaps that may be traded each day.

RBA's Stevens on the future of finance

In this speech, Glenn Stevens, the governor of the Reserve Bank of Australia, argues that the global financial sector is likely focus less on "exotic innovation" in the future.

IMF on European outlook

The International Monetary Fund expects growth to stagnate in advanced economies in Europe, while the region's emerging economies will slow down significantly.

Mboweni on governance of global finance

In this speech, Tito Mboweni, the governor of the South African Reserve Bank, argues that the G7 is "an exclusive economic club for rich countries and has outlived its usefulness".

Thaw in money markets gathers pace

The cost of borrowing in interbank markets declined on Monday, indicating that measures implemented by governments and central banks around the world to reduce tensions in frozen interbank markets are finally gaining traction.

Annual report: Sierra Leone

In 2007, Sierra Leone received extensive debt relief from creditors represented by the Paris Club and the US government, the Bank of Sierra Leone latest annual report notes.

Saudi Arabia's inflation challenge

Inflation in Saudi Arabia accelerated from 4.1% in 2007 to 11.1% in July 2008, posing challenges in the coordination between controlling inflation through monetary policy and enhancing economic growth through expansionary fiscal policies, said Hamad Al…

Chile's De Gregorio on handling bubbles

The lesson from the present crisis is that we cannot wait for asset-price bubble to burst before addressing its effects, said Jose De Gregorio, the governor of the Central Bank of Chile.

The tragic mistakes of the central banks

As the print dries on the European and US bank nationalisation plans and praise is sung for the financial statesmanship behind these, it is important (at least for posterity) to draw attention to the fact that there was an alternative route back to…

Bank of Israel - Annual Report 2007

The Bank of Israel's new law should provide a firm legal basis for the central bank's independence, said Stanley Fischer, the governor of the central bank in its latest Annual Report.

Fed's Beige Book a glum read

The latest edition of the Federal Reserve's Beige Book, a guide to business conditions in the 12 districts overseen by the regional Feds, indicates that economic activity weakened in September across the US.

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