Inflation

Dodge's comments lead to temporary loonie fall

The Canadian dollar fell against its US counterpart on Monday, after David Dodge, the governor of the Bank of Canada, said that domestic conditions were unrelated to the loonie's recent "abnormally quick" rise against the greenback.

Brazil holds rates at record low

The Central Bank of Brazil decided to keep its benchmark Selic rate at 11.25% today as growth and inflation accelerated. It is the first time in 18 meetings that the central bank has voted against a rate cut.

Mark Carney replaces Dodge at the Bank of Canada

Mark Carney, the senior associate deputy minister of finance and a former head of Goldman Sachs in Canada, will become the youngest central bank chief in the G7 when he takes over from David Dodge as Bank of Canada governor in February 2008.

Philippines cuts rates

The Central Bank of the Philippines surprised the markets on Thursday by deciding to lower its key policy rates by 25 basis points to 5.75%, for the overnight borrowing rate, and 7.75% for the overnight lending rate.

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