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Central bank News

Afghan bank clerks rob their own bank of $1.4 million and run

Kabul - Bank clerks in Afghanistan's southern Kandahar province may have stolen as much as 81 million Afghanis ($1.4 million) from the country's central bank when they raided their own bank and fled, said one official on Saturday.

Mark Carney steps down as head of Bank of Canada for England job

Ottawa - Bank of Canada Governor Mark Carney announced that he is stepping down as of July 1 after serving nearly five years. The central bank head, who has received accolades across the globe, will take the top job at the Bank of England.

Denmark central bank cuts deposit rates below zero for first time

Copenhagen - Denmark's central bank cut its interest rates by a quarter of a point Thursday, which echoed the European Central Bank's measures hours before. This is the first time in the nation's history that its deposit rate is below zero.

CNBC financial experts agree: 'We are slaves to central banks'

In a eye-opening round table discussion on CNBC's The Kudlow Report, every financial analyst openly admitted that the people of the United States serve central banking interests.

Botswana's Central Bank maintains benchmark rate at 9.5 percent

Gaborone - The Bank of Botswana announced that it is leaving its benchmark rate unchanged at 9.5 percent for the fifth straight meeting. The African central bank noted that the inflation rate would drop between three and six percent next year.

New Nigeria's central bank policy to curb illegal money transfer Special

The Central Bank of Nigeria’s new policy which requires banks to ensure that proceeds of international funds transfers are remitted to customers through their bank accounts will check fraud and money laundering in the country, says journalist Acheme Jac

Philippine Central Bank Hit for Outsourcing Manpower in Banking Special

MANILA – The Bangko Sentral ng Pilipinas (BSP), the country’s premier banking institution, is at the center of a raging controversy after it issued a circular allowing the outsourcing of human resources in banks and other financial institutions.

Federal Reserve makes record $50 billion in profits

The Federal Reserve has posted record profits in 2009 by making $50.2 billion, which is a $14.4 billion increase from 2008.

Gulf nations to create a joint central bank, single currency

At the Gulf Co-operation Council Summit in Kuwait, four of the six member nations agreed on Tuesday to setup a joint central bank and a single currency, which will be based in Riyadh.

Australia first G20 nation to raise interest rates

The Reserve Bank of Australia raised its chief interest rate today by a quarter of a percentage point to 3.25 becoming the first G-20 nation to do so.

Nigeria injects billions into banks, fires director

Nigeria's central bank has injected $2.5 billion into five big banks in the oil-producing nation and at the same time firing their managing director.

Op-Ed: Brave New World, Same Old Story

As the Fed takes actions to slash interest rates, your money is losing value in your very hands. You are now receiving diminished compensation for delaying consumption while your ability to consume is simultaneously eroding.

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Financial experts discuss the central banks  control over the economy on CNBC s The Kudlow Report.
Financial experts discuss the central banks' control over the economy on CNBC's The Kudlow Report.
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