Articles by Central Banking Newsdesk
Policymakers can mitigate post-crises unemployment effects: Turkey’s Başçı
Central Bank of Turkey governor Erdem Başçı says declines in employment during crises can be reduced by introducing policies to ease firms’ borrowing costs
Brazil holds first Financial Stability Committee meeting
First meeting held over a month later than planned; comes in same week governor addresses New York audience for the first time and discusses rising inflation
Markets respond positively as Bernanke says US is ready to act
Federal Reserve chairman Ben Bernanke says US has a “number of ways” it could ease financial conditions if necessary; markets respond postitively
Lagarde sticks with tradition and appoints American first deputy
Christine Lagarde appoints a US citizen as first deputy managing director; creates new deputy managing director position for Chinese official
Germany and China heighten cooperation
People’s Bank of China and Deutsche Bundesbank meet in Frankfurt to discuss financial stability and trade partnership; China stresses confidence in euro area
St Louis Fed paper on US monetary policy and global output gaps
St Louis Federal Reserve study says there is not sufficient empirical evidence to suggest US monetary policy should focus on global output gaps
RBI's Gokarn on new financial stability empahsis
Reserve Bank of India deputy governor Subir Gokarn says financial stability can be jeopardised in environment of price and macroeconomic stability
BoJ’s Shirakawa optimistic over post-earthquake recovery
Bank of Japan governor Masaaki Shirakawa points to further evidence that supply-side constraints are easing
Ireland appoints new deputy governor
Central Bank of Ireland makes Stefan Gerlach new deputy governor
Non-performing loans pose severe risk to advanced economies: IMF paper
Fund study finds evidence of strong link between level of non-performing loans and macroeconomic activity in advanced economies
Iceland paper reviews monetary policy in turbulent times
Central Bank of Iceland study shows banks’ price setting behaviour and inflation expectations have been negatively impacted by banking crisis
Upheaval at Bank of Israel
New directors of the research and market operations departments; long-serving director of human resources and administration department resigns
China insists local government debt is ‘manageable’
People’s Bank of China dismisses claims local government financing vehicles owe 14 trillion yuan; says risks from the debts are manageable
King receives 2.5% pay rise
Bank of England 2010 Annual Report shows governor Mervyn King’s starting minimum salary for 2010 increased to £375,000; deputy governors also receive pay rise
Weber gains clearance to join UBS
Eurozone and German central bank give former Bundesbank president Axel Weber green light to join UBS in May
BoE identifies deficiencies in central banks’ monetary policy frameworks
Bank of England deputy governor Charlie Bean says central banks must review their monetary policy frameworks to include a more prominent role for financial intermediaries
BIS’s Caruana urges completion of regulatory reform agenda
Bank for International Settlements general manager Jaime Caruana highlights a number of challenges facing national authorities in implementing critical reforms
IMF paper on leaning against the wind in Latin America
Fund study says countercyclical instruments are an effective tool to restrain excessive credit growth in Latin American countries
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
BIS report highlights steps to curb sovereign debt risks
Basel working group outlines measures central banks can introduce to mitigate the risks associated with sovereign debt
LOLR creates incentive for banks to over-leverage: Netherlands Bank paper
A Netherlands Bank study finds central banks’ lender-of-last-resort function motivates banks to take on excessive risk
Israeli housing bubble in early stages: Bank of Israel paper
Bank of Israel study shows house price increases in Israel are not exceptionally high relative to past episodes
Former Vietnamese governor suspended over corruption scandal
After reports implicate Le Duc Thuy, a former governor of the State Bank, the country’s prime minister forces him out of public service
Expansionary effects of fiscal contractions overstated: IMF paper
Fund study finds bias in literature towards expansionary effects on fiscal contractions