Tag: central banks
Inflation remains challenging for Asian economies
The Asian Development Bank (ADB) has said inflationary pressures remain rife in Asia’s developing economies and could pose a challenge for many, leading to social tensions. However, the region is powering ahead in the economic growth stakes, due to soaring exports, and has been leading the way in the global economic recovery. Growth rates for [...]
Rising inflation to dominate this weekend’s G20
This weekend’s G20 summit in Paris is likely to be dominated with the talk of rising inflation. The two-day meeting of finance ministers and central bankers from 20 of the world’s largest developed and developing nations, will discuss soaring inflation – which is causing severe problems for many economies throughout the world. In the UK, [...]
US core inflation rises in January
The Labor Department has today revealed the US Consumer Price Index, the core rate of inflation, rose by 1.6% on an annual basis in January. However, the rate is still within the central bank’s target of closer to 2%. On a monthly basis, prices rose by 0.2% – the largest gain since October 2009 – [...]
IMF fears currency war after interventions by central banks
Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has expressed his concern for a currency war. According to Mr Strauss-Kahn, if Governments across the world use exchange rates as a policy weapon, there could be a serious risk to global economic recovery. His comments come ahead of the IMF and World Bank annual [...]
China takes action to relax currency
China has today taken action to honour its pledge in making its currency, the yuan, more flexible. On Saturday, policymakers pledged to make the yuan more flexible but then just 24 hours later the central bank’s website said: “There is at present no basis for major fluctuation or change in the [yuan] exchange rate.” However, [...]
Fed chairman warns of political interference
Ben Bernanke, the chairman of the US Federal Reserve, has emphasised the importance of central banks to be free of political meddling and to keep their independence. Mr Bernanke believes central banks throughout the world should be able to make key economic decisions about monetary policy without Government interference. His statement comes as some Governments [...]
£55 billion pumped into the banking system
The Bank of England has taken steps today in a bid to ease the worsening credit crisis after it injected an additional £55 billion into the banking system. The move follows the announcement that the $700 billion (£380 billion) US financial bailout plan has been blocked. As a result, central banks are taking action to [...]
Markets react to $180bn cash injection
Global markets have suffered over the last few days amid the collapse of Wall Street giant, Lehman Brothers, and the rescue of US insurance giant AIG, with many fearing that other financial institutions would suffer the same fate. US stocks increased in early trading today after Central banks from the UK, US, Europe, Canada, Switzerland [...]
