Central Banks
Renminbi to be reserve currency in less than five years: CB.com poll
A poll of CentralBanking.com readers finds most believe the Chinese currency will account for more than 5% of global reserves in less than five years
Czech Republic holds off euro entry
Czech Republic will not join single currency until at least 2015 after central bank and finance ministry urge government not to enter Exchange Rate Mechanism II next year
Robert Pringle’s Viewpoint: What future for European banking?
Policymakers urgently need to form a clear, strategic position on the future of banking in Europe as well as a roadmap on how to get there. This may require the nationalisation of major European banks
Bank of Japan launches Twitter account
Bank of Japan advances internet offerings by launching a Twitter account; joins several other central banks in ‘tweeting’ key information
Liquidity crisis did not alter settlement method: Cleveland Fed paper
Cleveland Federal Reserve study shows liquidity risks to net and gross settlement systems had little impact on payment methods
RBI signals end to tightening cycle
Reserve Bank of India leaves interest rates on hold and says it is likely to loosen monetary policy next on expectations of moderation in growth
South Korea takes heed of US sanctions on Iran
US Senate passes bill containing strict new sanctions affecting Central Bank of Iran; South Korea government warns businesses of implications
Noyer blasts ratings agencies on Twitter
Banque de France verified Twitter page publishes stream of comments from governor Christian Noyer; criticises credit ratings agencies and slams UK economic performance
Hungarian government proposes banking regulator merger
Hungarian parliamentary committee sets out amendments to National Bank of Hungary law that will merge institution with financial regulator; move would see governor Andras Simor demoted to deputy head
Draghi explains extraordinary policy measures
ECB president sets out the reasons behind governing council’s decision to cut the benchmark interest rate and introduce three measures to support bank lending and liquidity in the eurozone
BoE survey shows inflation expectations are climbing
Bank of England Inflation Attitudes survey says most respondents believe inflation is expected to average 3.5% in next five years
National Bank of Hungary paper explains strong demand for cash in Eastern Europe
National Bank of Hungary study shows transactional cash demand is influenced by the level of improvement in payment systems
Liikanen warns of growing downside risks to economy
Bank of Finland governor Erkki Liikanen says he expects Finnish economy to grow by 0.4% in 2012 if eurozone debt crisis does not worsen
SNB holds rates despite weaker growth outlook
Swiss National Bank holds currency floor at Sfr1.20 to the euro as forecasts project a sharp decline in growth and deflation in 2012
New director for IMF Institute
Christine Lagarde announces Sharmini Coorey as new head of the IMF’s economic management training body; also reveals new directors of the external relations and human resources departments
IMF delivers gloomy Greece update
IMF releases Fifth Review Under the Stand-By Arrangement for Greece; offers a bleak picture of the country’s economy and future
Australia ‘well placed’ to deal with global downturn; RBA’s Battellino
Reserve Bank of Australia’s deputy governor Ric Battellino says Australia is in a strong position to cope with ongoing global financial turbulence
Fed holds fire amid European chaos
Federal Open Market Committee points to 'strains' in global financial markets as it holds rates and reaffirms commitment to Operation Twist
Saudi Arabian reshuffle sees new governor appointed
Muhammad al-Jasser moved to government post; Fahd bin Abdullah al-Mubarak takes over as governor of the Saudi Arabian Monetary Agency