Central Banks
ECB’s Tumpel-Gugerell: self-regulation hasn’t worked for Sepa
European Central Bank executive board member Gertrude Tumpel-Gugerell acknowledges banks’ progress “has not achieved the required results”
Philly Fed’s Plosser offers perspective on economic outlook
President of Philadelphia Federal Reserve notes “somewhat troubling” movements of inflation expectations
Finland supports Portuguese bailout; calls for international banking tax
National Coalition Party and Social Democratic Party agree to support bailout; want to see EU-wide banking tax “to collect funds from banks in advance in view of a possible future financial crisis”
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
Lambert will not take up seat on Bank’s FPC
Former Monetary Policy Committee member Sir Richard Lambert says he no longer wishes to become one of four external members of macroprudential body
Basel Committee unveils final proposals on pay
Basel Committee on Banking Supervision reveals risk-adjusted remuneration report; urges large firms to move away from remunerating employees based purely on their profits
Frank’s FOMC attack offers further evidence of the politicisation of Fed policy
Attempts to rescind regional Fed presidents’ voting rights as members of the Federal Open Market Committee manifest an unfortunate trend in US monetary policy, Thomas F. Cargill believes.
IMF re-examines link between exchange and inflation rates
IMF examines link between nominal exchange rate and inflation
Watch out for policy spillovers: Subbarao
Reserve Bank of India governor warns that process of globalisation can cause unexpected policy spillover damage
New model for assessing underlying inflationary pressure: Canada
Discussion paper calls for exclusion of components with “exceptionally large price changes” when assessing underlying inflationary pressures
Rebalancing of global economic policy urged: ECB’s Stark
Stark calls for “a fundamental change in economic mindset across the global economy”
Funding pressures influencing rate votes: BoE’s King
Bank of England governor Mervyn King notes gap between rates and funding costs “enormous”; says “big picture not changed much”
Japan set to up legal reserve to safeguard against losses
Japan applies to increase capital buffer; wants to "maintain its financial soundness"