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Economist Poloz tapped to lead Canada's central bank

Agence France-PresseMay 2, 2013 17:30
The Bank of Canada on Thursday named an economist and longtime bureaucrat, Stephen Poloz, as its new governor, succeeding Mark Carney who is leaving to head the Bank of England next month. Poloz has worked in Canada's public service for 25 years, including since 2011 as chief executive of Canada's export credit agency, which helps Canadian exporters and investors expand their international business.

UK MPs say mortgage scheme may be costly or counterproductive

April 19, 2013 19:30
By David Milliken LONDON (Reuters) - A British government scheme to help home-buyers risks being costly, counterproductive and a danger to the Bank of England's political independence, a non-partisan committee of legislators said on Saturday. Chancellor George Osborne pledged to guarantee up to 130 billion pounds of higher-risk mortgages and offer 3.5 billion pounds of shared-equity loans to home-buyers in his annual budget statement last month.

key rate-March minutes

April 2, 2013 04:00
SEOUL, April 2 (Yonhap) -- Policymakers at South Korea's central bank froze the key interest rate in a 6-1 vote for March while one member argued for a rate cut, citing economic uncertainty and easing moves by other central banks, the bank's minutes showed Tuesday. At a rate-setting meeting held on March 14, the Bank of Korea (BOK)'s seven-member monetary policy committee decided to leave the benchmark 7-day repo rate unchanged at 2.75 percent for the fifth straight month. The bank cut the key rate in July and October last year.

Britain appoints members to BoE's Financial Policy Committee

March 26, 2013 12:00
LONDON (Reuters) - Chancellor of the Exchequer George Osborne announced on Tuesday that Clara Furse, Richard Sharp and Martin Taylor will join the Bank of England's Financial Policy Committee. They will replace three outgoing members, Alastair Clark, Michael Cohrs and Robert Jenkins. Donald Kohn has been reappointed to serve a further term, he said.
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