Financial crisis
Mexico holds rates at 7.5%
The Bank of Mexico's rate-setting board voted on Friday to hold its benchmark rate at 7.5%.
US downturn's impact limited in East Africa
An economic slowdown in the United States would have ramifications for East Africa but many factors can limit its impact, says Emmanuel Tumusiime Mutebile, the governor of the Bank of Uganda.
Canada virtually unscathed by credit crisis
Canada, has, so far, come through the recent bout of market turmoil reasonably well, says Pierre Duguay, the deputy governor of the Bank of Canada.
A troubling lesson of Northern Rock
The Northern Rock crisis has revealed a fundamental change in the nature of bank runs, says Robert Pringle, the editor of Central Banking journal.
G20 predicts "modest" global slowdown
Central bank governors and finance ministers from the G20 economies said that the credit turmoil would likely have a "modest" effect on global growth, but added that it remained difficult to judge the eventual impact.
Growth slowdown to follow crunch: Japan's Fukui
Toshihiko Fukui, the governor of the Bank of Japan, said he expected global growth to fall to 5% this year as a result of the financial turmoil.
Chile holds rates at 5.75%
The Central Bank of Chile's rate-setting board voted on Tuesday to keep its monetary policy interest rate at 5.75% despite CPI inflation of more than 6%.
European central bank response wins plaudits
The reaction of European central banks to the credit crisis gained International Monetary Fund (IMF) approval on Monday.
New Zealand economy stable despite turmoil
New Zealand's financial system remains sound in spite of the recent global banking crisis, the Reserve Bank of New Zealand said on Wednesday.
Fed finally gives Basel II the green light
The Federal Reserve Board on Friday approved the American version of the Basel II framework on risk-based capital requirements. It is the last of the Group of Ten countries, which developed the framework, to do so.
Why policy should take account of asset prices
One lesson of the current crisis is that monetary policy should respond to asset prices, whether the movement is up or down and regardless of its cause, argues Tim Young
Risky business
Avinash Persaud argues that the crisis was largely caused by the risk-transfer models championed by the investment banks, credit rating agencies and regulators
Information crunch: a 21st century crisis
Central banks have in general conducted themselves well in the current crisis, but should have acted earlier. Now they have to help overcome the prevailing “information crunch”, says Marco Annunziata
Clipping central bankers’ wings
Willem Buiter argues that central banks should “stick to their knitting” and become minimalist monetary authorities
Do we get more out of theory than we put in?
John B. Taylor assesses the impact of theoretical breakthroughs on monetary policymaking, and evaluates the results
Interview: Claudio Borio
Claudio Borio is the head of research and policy analysis at the Bank for International Settlements (BIS). He has published extensively on numerous issues, including the relationship between asset prices and financial and monetary stability, monetary…
Indonesia still vulnerable to shock
Indonesia's current economic conditions mirror those that sparked the 1997-1998 Asian financial crisis and the central bank is working to protect the country from the impact of a potentially similar scenario, Budi Mulya, a director at Bank Indonesia,…
New shocks may emerge, Old Lady warns
Holders of stock, commercial real estate and the US dollar could be the next victims of the banking crisis, the Bank of England predicted in the latest edition of its financial stability report.
Scale of subprime unknowable until 2008: Weber
Axel Weber, the president of the Bundesbank, said on Tuesday that the extent of the subprime crisis will remain unknown until at least the end of 2007.
Bank of England reports on the crisis
The Bank of England has acknowledged that the recent banking crisis has revealed that the UK's financial authorities need to strengthen their crisis management arrangements.
De Rato's final speech presents gloomy outlook
Rodrigo de Rato, the outgoing managing director of the International Monetary Fund, said on Monday that the recent banking crisis has exposed weaknesses and will hamper growth in the coming years.
Japan will weather banking crisis, says Mizuno
There is little chance of the recent banking crisis adversely affecting the Japanese economy according to Atsushi Mizuno, the most hawkish member of the central bank's current rate-setting board.