Articles by Central Banking Newsdesk
Norges Bank sues Citi over subprime-related losses
Norges Bank alleges bank was deceitful over true nature of health; condemns Citi’s subprime mortgage, CDO practices
New York Fed research finds flaws in inflation expectations polls
New York Federal Reserve research uncovers faults in measuring inflation expectations; says questions on rate of inflation rather than price level provide better guide to future uncertainty
Isoard to head International Association of Deposit Insurers
International Association of Deposit Insurers appoints former governing board member of Mexico's deposit protection agency Carlos Isoard as next secretary general
Rate decisions this week
Majority of central banks stand pat as uncertainties persist over growth, price pressures; Iceland cuts while Turkey, Uruguay tighten policy
FSA’s Turner: regulator faces challenging transition period
Financial Services Authority chairman Adair Turner says restructuring of regulator will no doubt impact quality of operations
MAS governor on regulatory reform
Monetary Authority of Singapore’s Heng Swee Keat notes need for better regulations, better appreciation of the macro-financial linkages, and firmer supervision
RBNZ’s Spencer: monetary policy will have more bite
Reserve Bank of New Zealand deputy governor Grant Spencer says cautious lending means monetary policy will have more bite than in previous years
BoE: consumption volatility explains global decline in real interest rate
Bank of England study shows lower global real interest rates caused by higher consumption volatility in traded goods
Weber’s German defence highlights leadership flaws
Bundesbank president Axel Weber blames deficit countries for eurozone’s woes; analysts say comments further complicate chances at ECB presidency
BIS must fix data gaps: Bank paper
Bank of England paper identifies specific information gaps in cross-border banking statistics published by Bank for International Settlements; improvements thought to be under way
Finland’s Liikanen demands greater economic coordination in eurozone
Bank of Finland governor Erkki Liikanen says better public finance governance serves common interest in Europe
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit
Wellink keen on expanding Basel III rules
Basel Committee chairman Nout Wellink says further improvements to new Basel rules will increase quality of capital base
Reform missed chance to fix mortgage markets: Volcker
Former Federal Reserve chairman Paul Volcker says US mortgage markets are dysfunctional due to reliance on government; renminbi appreciation in China’s own interest
US to launch financial stability council next week
Financial Stability Oversight Council to hold first meeting on 1 October
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
BoE: higher probability of further stimulus
Bank of England Monetary Policy Committee minutes show members felt more stimulus measures may be required to steer economy towards recovery
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
Summers quits Obama’s economic team
Chief adviser to President Obama, Lawrence Summers, announces departure from National Economic Council at end of year
BIS on offshore domestic currency use
Bank for International Settlements paper says monetary stability risks from offshore credit growth can be managed through prudent policy
NBER: narrow funding banks will help regulate ABS market
National Bureau of Economic Research study proposes new narrow funding banks to help regulate asset-backed securities
Ireland’s debt costs soar
Auction results show demand for Irish debt remains strong, but analysts fear higher financing costs are unsustainable
RBA appoints new head of economic research
Reserve Bank of Australia promotes deputy head of domestic markets Jonathan Kearns to head of economic research