Interest rates
Nigeria combats inflation with 50bp hike
The Central Bank of Nigeria's rate-setting board voted on Tuesday to raise rates by half a percentage point to 9.5% in a bid to fight inflation.
Interest rates set to climb in China in 2008
The People's Bank of China said on Wednesday that it would step up its fight against inflation by implementing tighter monetary policy controls and utilising other monetary tools in 2008.
Domestic pressures behind Australian rate rise
Members of the Reserve Bank of Australia's rate-setting board voted to hike rates last month on domestic economic grounds, minutes of the 6 November meeting reveal.
Canada surprises markets with quarter-point cut
The Bank of Canada's rate-setting board voted unexpectedly on Tuesday to cut its benchmark overnight rate by 25 basis points to 4.25%.
New Zealand to webcast monetary policy statements
The Reserve Bank of New Zealand is set to webcast the news conference that will follow this Thursday's rate decision.
Bernanke keeps door open for rate cut
The Fed chairman's concern over the effects of renewed turmoil in financial markets lent weight to expectations of a rate cut in December.
SARB policies here to stay regardless of Zuma
Tito Mboweni, the governor of the South African Reserve Bank, moved to assure markets on Thursday night that inflation targeting would remain whether or not the South African presidency changed hands.
Mishkin wants changes to lead to medium-term focus
Frederic Mishkin, a governor at the Federal Reserve, said on Thursday that he hopes the decision to increase the frequency and expand the content of the central bank's economic projections will stop Fed watchers' obsessive focus on where rates are…
UK's King gloomy on economic conundrum
Mervyn King, the governor of the Bank of England, said on Thursday that the economic outlook is "uncomfortable" because the problems of the credit crisis are now coupled with burgeoning inflationary pressures.
Czechs hike rates to 3.5%
The Czech National Bank's rate-setting board voted on Thursday to hike rates by 25 basis points to 3.5% after inflation rose to a six-year high in October.
FOMC members disagree on risks to growth
Stock markets around the world rose sharply on Wednesday after Donald Kohn, the vice chairman of the Federal Reserve, suggested that the Federal Open Market Committee (FOMC) would cut rates in December. Kohn's comments differ sharply from those made by…
South African inflation rampant despite rate hikes
Two 50 basis point rate hikes have failed to dampen rising inflation in South Africa, new statistics showed on Wednesday.
Poland hikes rates to combat inflation
The National Bank of Poland's rate-setting board voted on Wednesday to raise the benchmark reference rate by 25 basis points to 5% after inflation rose above the central bank's target in October.
Uncertainty clouds outlook for rates in Norway
Svein Gjedrem, the governor of the Bank of Norway, said on Wednesday that the central bank's interest rate decisions may diverge from the forecasted rate path because of the heightened uncertainty caused by the global financial turmoil.
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%.
Israel holds rates at 4%
The Bank of Israel's rate-setting board voted on Monday to keep rates at 4% for the third consecutive month.
Subprime losses could mount to $300 billion
US housing market losses are likely to be in the region of $200 billion to $300 billion, a report by the Organisation for Economic Co-operation and Development (OECD) finds.
Poor data raises chances of UK rate cut
Worse-than-expected growth and woeful housing statistics have increased the likelihood that the Bank of England will move to cut rates next month.
Markets certain on rate cut despite Fed's stance
In spite of repeated claims by Federal Open Market Committee (FOMC) members that the risks between inflation and growth are now balanced, interest rate futures traders believed on Wednesday that a December cut is more likely than ever.
Canada's Duguay raises chances of liquidity shift
Fresh suspicions that the Bank of Canada may alter its liquidity provisions by lending for longer periods arose on Tuesday after a speech by Pierre Duguay, a deputy governor of the central bank.
Japan's Nakamura expects further US housing woe
Seiji Nakamura, a member of the Bank of Japan's rate-setting board, has said that the chances of economic slowdown in the United States are rising as the subprime market slumps further.
Hoenig: US economy will "weather this storm"
Thomas Hoenig, the president of the Kansas City Federal Reserve and the only member of the Federal Open Market Committee to vote against the 31 October rate cut, said that he thought the effects of the credit crunch were unlikely to spread very far.
UK's Gieve surprises with rate cut vote
Sir John Gieve, the deputy governor at the Bank of England responsible for financial stability, was one of two dissenters who voted for a rate cut at the monetary policy committee's November meeting, minutes published on Wednesday reveal.
Koruna's rise presents mixed blessing
Ludek Niedermayer, a vice governor of the Czech National Bank, parried calls for the central bank to act on the appreciation of the koruna and said that the increase in the currency's value made euro accession more favourable.