Central Banks
Nepal launches polymer banknote graft investigation
Parliament demands report from finance ministry and Nepal Rastra Bank; latest country to delve into Australian companies' discrepancies
Unconventional tools can ease interbank lending: ECB paper
European Central Bank study says repo haircuts can help boost interbank lending during crisis
Capital inflows must be better monitored: BoJ paper
Bank of Japan study says framework to monitor capital inflows must be improved to reflect increase in volume
BoE's Weale explains rate-raise vote change
Martin Weale explains decision to vote to hold rates; admonishes low UK savings records and discusses future monetary policy responses
Speculation intensifies over Bernanke's forthcoming Jackson Hole speech
Markets will be looking for signs of a third round of quantitative easing ahead of Fed chairman Ben Bernanke’s much anticipated speech at Jackson Hole, Wyoming, writes Blair Baker
Payments Council lambasted over cheques plan
Treasury Select Committee leaves damning verdict over Payments Council's original decision to abolish system for cheque clearance; says industry-led body should be more heavily regulated in future
Allan Meltzer awarded Truman Medal
American economist Allan Meltzer to become only the fourth person to receive the distinguished Truman Medal for Economic Policy
Atlanta Fed welcomes faster card chip migration
Atlanta Federal Reserve says decision by credit card companies to accelerate chip migration will provide roadmap for merchants
Fiscal policy in Cemac region strongly procyclical: IMF paper
Fund study finds evidence of procyclical nature of fiscal expenditure in Cemac countries
EU no-bailout rule must be strengthened, says Buba
German Bundesbank says eurozone bailout reduces incentive to commit to sound fiscal policy; calls for strengthening of no-bailout rule in EU treaty
PboC adviser calls for urgent reform in the West
People’s Bank of China adviser Li Daokui says Europe and the US must introduce further reforms to address their chronic economic problems
RBI’s Subbarao on scaling up corporate governance in emerging markets
Reserve Bank of India governor Duvvuri Subbarao says banks’ special role as financial intermediaries requires special corporate governance rules
Tough policy choices ahead for Australia: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says higher inflation and lower-than-expected growth will make monetary policy more challenging
High markups can exacerbate downturns: IMF paper
Fund study finds evidence that high markups in South Africa creates monetary policy asymmetries
Austria’s Nowotny fears delay in ratification of EFSF
National Bank of Austria president Ewald Nowotny expresses concern that new European Financial Stability Facility powers will not be phased in by October
Gono warns government against ‘firing harmful, verbal economic gunpowder’
Gideon Gono says no intention to withdraw foreign banks’ licences; rebukes Zimbabwean government for issuing warning of nationalisation
Towards a global monetary policy
US monetary policy must change as the dollar’s dominance wanes, writes Allan H. Meltzer
Interview: Robert Mundell
The Nobel laureate explains what is needed to save Europe’s single currency and calls for greater global coordination of monetary policies, in conversation with Robert Pringle
The fractured global monetary system
Robert Pringle reflects on the 40th anniversary of Bretton Woods
Would Spain be better off out of the euro?
Domingo Cavallo compares the economic performances of the UK and Spain during the crisis to see if being ‘out’ is better than being ‘in’
Conflicts of interest in central banking
The crisis has highlighted how interests can diverge in the monetary policy-making bodies of federal central banks, writes Daniel Gros