Central Banks
Dovish Miyao wants more QE for Japan
Bank of Japan minutes show policy board member Ryuzo Miyao voted for a ¥10 trillion monetary injection at the last meeting
FSB Asia Regional Consultative Group holds first meeting
Asian regional consultative group gathers in Korea to exchange views on key financial stability issues
Liikanen predicts emerging market over-take in 2013
Bank of Finland governor sees emerging economies overtaking developed as soon as 2013; Bank of Finland renews terms of two key central bank figures
Eurozone crisis altered sovereign spreads: IMF paper
Fund study says risk assessment of sovereigns and banking sector gradually converged as sovereign debt crisis evolved
SF Fed says mortgage market reforms can aid monetary policy
San Francisco Federal Reserve president John Williams says fiscal policy must work in tandem with monetary policy to stimulate US economy
Singapore warns rise in capital outflows may destabilise Asia region
Monetary Authority of Singapore November Financial Stability Review says Asia is vulnerable to a sudden and large reversal of capital flows
Draghi exasperated with eurozone leaders over EFSF
European Central Bank president Mario Draghi expresses frustration at delays from member states to issue new powers to eurozone rescue fund
Industry praises expansion of South Korea’s currency swap arrangements
Senior executives of large enterprises praise Bank of Korea for expanding currency swaplines with Japan and China; industry concerned about slowdown caused by eurozone crisis
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
Emerging market central banks lead gold rush
World Gold Council Global Demand Trends report shows central banks were net buyers of gold in third quarter of 2011, led by Russia, Bolivia and Thailand
Bank of Canada paper urges reform to international monetary system
Bank of Canada study says reforms to international monetary system should focus on flexible exchange rate regimes and coherent macroeconomic policy
IMF paper on how to negotiate a debt restructuring
Fund study shows full creditor participation requires haircuts and probability of successfully holding out for entire repayment is not too high
US senator renews call for ‘crippling’ sanctions on Central Bank of Iran
Senator Mark Kirk wants foreign financial institutions conducting transactions through the Central Bank of Iran to see access to US financial system cut off, and their US-based assets blocked
Chicago Fed paper explores determinants of asset-price bubbles
Chicago Federal Reserve study says theoretical models that observe relative price deviations from fundamentals are effective in predicting boom-bust cycles
Central bank intervention in credit markets threatens independence, says Fed's Lacker
Richmond Federal Reserve president Jeffrey Lacker says intervention in credit markets diminishes central bank autonomy; CentralBanking.com poll suggests otherwise
Blanchflower blasts BoE’s forecasting record
Former Bank of England Monetary Policy Committee member David Blanchflower says central bank will continue to miss projections until outdated models are replaced
IMF’s European director Antonio Borges quits
Director of European department, Antonio Borges, steps down for personal reasons; succeeded by strategy director Reza Moghadam in shake-up at Fund
Turkey and Nigeria in talks with China about currency swaplines
Governors of relevant central banks confirm Republic of Turkey and Nigeria are both in negotiations with the People’s Bank of China regarding currency swaplines
Quantitative easing proved effective in Japan: IMF paper
Fund study shows the Bank of Japan’s asset purchase programme helped lower bond yields and raised equity prices in the country