Central Banks
Eurozone crisis catches up with Estonia
Bank of Estonia becomes latest central bank to cut growth expectations; says eurozone crisis could cause a recession in the country
BoE working paper investigates capital controls
Working paper from the Bank of England looks at ways of reforming the international monetary and financial system; suggests prudential capital controls may be needed
Currency momentum strategies uncovered: BIS paper
BIS working paper on currency momentum strategies finds a large cross-sectional spread in excess returns of up to 10% a year between past winner and loser currencies
Zeti discusses Islamic finance talent development
Governor of Bank Negara Malaysia stresses the importance of talent development in financial services; growing importance of Islamic finance means education is necessary
Boston Fed analyses US developments in mobile payments
Federal Reserve Bank of Boston paper charts rise of use of electronic banking for individuals in the US
Zambian president sparks ‘fake’ money panic
Zambian president refers to 'fake' money in circulation; finance minister accuses central bank of shirking legalities in awarding latest banknote printing tender to German company
Debt tolerance has turned decisively, says Carney
Bank of Canada governor Mark Carney says deleveraging process is here to stay; warns if debt restructuring needs to happen, it should be done sooner rather than later
US sanctions on Iranian central bank inch closer
Senator Carl Levin reveals Senate’s 'strong' sanctions pass negotiating panel of House and Senate representatives 'virtually intact'; clears way for momentous Bill to pass
Sri Lanka eases rules on foreign investments
Central Bank of Sri Lanka changes regulations on foreign investments and domestic firms taking out foreign loans; aims to support expanding economic activities with additional financing
European Parliament to vote on Cœuré’s future at ECB
Economic and Monetary Affairs Committee recommends Benoît Cœuré for ECB executive board; plenary European Parliament vote to happen on Wednesday
Lessons for monetary policymakers: BoE’s Dale
BoE’s Dale discusses lessons learned in 2011 and tackles concerns and criticisms over quantitative easing
‘Ambitious’ strengthening of economic governance needed: Praet
ECB’s Peter Praet says resolving economic crisis will rely on strengthening economic governance; ECB will remain anchor for stability
Norges Bank regional network reports weakening markets
Latest reports from regional network of enterprises, organisations and local authorities reveal lower output growth and somewhat weaker market prospects in Norway
UK’s FSA admits flaws in supervisory approach
New report into the failure of the Royal Bank of Scotland sees the Financial Services Authority accept a level of blame for the crisis at the bank
BIS stresses central banks' role in combating global liquidity problems
Bank for International Settlements releases quarterly review; says central banks have the power to limit liquidity crises; study finds QE may not be as effective as was hoped
New governor selected in Chile
Sebastián Piñera, the president of Chile chooses Rodrigo Vergara Montes to lead the Central Bank of Chile; Montes takes over role before final Senate approval
Video: National Bank of Angola’s David Carvalho on reserves allocations to Brics
Angolan central bank looks to invest in Brazilian, Chinese and African debt as it reassesses its reserves guidelines in light of the eurozone debt crisis and persistently low US Treasury yields
Brazilian working paper looks at adverse selection cost in stocks
Central Bank of Brazil working paper finds the component is higher than in the US market and displays an intraday U-shape pattern
Spain’s Ordóñez discusses developments in preventing future crises
Governor of the Bank of Spain, Miguel Fernández Ordóñez discusses global and European reform initiatives and Spain’s efforts to implement them
Fed working paper analyses indecision over economic shift in 1990s
Researchers find that initial enthusiasm for productivity-driven positive supply-side shocks of the 1990s followed by mistrust led to significant problems for business planning