The head of the German central bank or Bundesbank warned Wednesday that a planned European financial transactions tax could have unexpected negative implications for monetary policy.
The Group of 24 emerging and developing countries called on the central banks in rich countries to guard against spillovers that could wreak havoc on their economies.
Federal Reserve Chairman Ben Bernanke said Monday that the US economy still has far to go to recover to an acceptable state of health.
Cyprus's central bank said "indications are" that the country's banks will reopen on Thursday after a 12-day closure imposed as the country sought an EU-IMF bailout.
Major British banks must reinforce their capital by £25 billion ($38.8 billion, 29.5 billion euros) by the end of 2013 after underestimating the potential losses and fines they face over the next three years, the Bank of England said on Wednesday.
Cyprus's central bank will impose capital controls to prevent funds going abroad, limiting what travellers may take out, restricting credit card purchases and slapping a ban on cashing cheques, local media reported Wednesday.
Cyprus's central bank said "indications are" that the country's banks will reopen on Thursday after a 12-day closure imposed as the country sought an EU-IMF bailout.
A former governor of the Central Bank of Cyprus on Friday accused the EU of "blackmail" in its bailout plan for Cyprus and said its approach to the crisis put the entire European project at risk.
The European Central Bank threatened Thursday to pull the plug on its emergency funding to Cyprus unless Nicosia can secure a bailout deal with international creditors by next week.
US central bank chief Ben Bernanke said Wednesday that the Federal Reserve was monitoring the Cyprus crisis but that it was not so far seen as a danger for the United States.
Wednesday, April 24, 2013
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