Central Banks
Fiji’s Whiteside on microfinance challenges
Reserve Bank of Fiji governor Barry Whiteside says poor infrastructure presented challenges in extending financial services into the rural areas
Turkey’s Yilmaz on central banks’ enhanced stability mandates
Central Bank of Turkey governor Durmuş Yilmaz says centralising power for safeguarding stability at central banks places too great a burden on unelected officials
Creditless recoveries not uncommon: IMF paper
Fund study finds creditless recoveries are common and may result from impaired financial intermediation
Zimbabwe told to look to commercial banks for US coin supplies
Contrary to local media reports, Federal Reserve has not made formal arrangement with Harare
BoJ forecasts widespread production declines following earthquake
Report of Recent Economic and Financial Developments says domestic production expected to decline in earthquake aftermath
Crisis reshaping Australian bond market: RBA’s Debelle
Reserve Bank of Australia assistant governor Guy Debelle says regulatory reforms to change Australia’s bond market structure
ECB paper on EMU governance reforms
European Central Bank study says Van Rompuy Task Force proposals are essential to euro area governance framework
RBA minutes: rates on hold as temporary inflation effects dissipate
Minutes of RBA rate-setting meeting says inflationary effects of extreme weather conditions only short term; renewed focus on global inflation risks of higher oil prices
RBI group recommends switch to one-policy rate
Reserve Bank of India group on operating procedure of monetary policy says moving to one rate would be in line with global best practice
Lawmakers grill BoE’s court over stability mandate
UK Treasury Committee query whether Bank of England’s Court of Directors is up to the task of monitoring the activities of the Financial Policy Committee
BoE governing body member 'uncomfortable' with King fiscal comments
Bank of England’s Court of Directors member and head of Trades Union Congress Brendan Barber says he is uncomfortable about comments made by governor Mervyn King on fiscal policy
Ex-Brazil governor to head Olympic authority
Former Central Bank of Brazil chief Henrique Meirelles tasked with managing preparations for 2016 games, to be held in Rio
Buba’s Weber says negative growth effects of Basel III unfounded
Bundesbank president Axel Weber says higher Basel III capital requirements will have positive long-term implications on growth
RBA paper estimates long-term inflation expectations
Reserve Bank of Australia study measures long-term inflation expectations in Australia
Japan injects ¥7 trillion; expands asset purchase programme by ¥5 trillion
Bank of Japan makes largest-ever same-day funds operation in bid to subdue market panic following Tohoku earthquake
EU agrees to more generous terms for Greece
Heads of state agree to lower rate of interest and extend maturity on Greek loan; no word on Ireland
Bank’s King calls for grand bargain to tackle global imbalances
Bank of England governor Mervyn King says G-20 countries must reach agreement on path to rebalance global economy; says G-20 could metamorphose into IMF governing body
ECB’s Bini Smaghi proposes single eurozone bond issuing agency
European Central Bank executive board member Lorenzo Bini Smaghi backs proposals for single eurozone government bond issuer; says agency could pave the way for a single European bond
BIS economists identify indicators of systemic risk
Bank for International Settlements research points to size as most reliable indicator of systemic importance, ahead of interbank lending and borrowing
China's growth and the yuan's status are not inextricably linked
China’s growing economic might has led to claims that the yuan will take its place among the reserve currencies. But, as Gary Smith argues, the link between GDP and reserve status is far from causal
BoJ leaps to action to soothe quake fears
Bank of Japan moves to assure investors that financial infrastructures are still working; central bank will work to maintain smooth liquidity, settlement conditions
IMF paper on foreign credit expansion in European EMEs
Fund study finds evidence of significant increase in level of foreign credit growth in emerging European countries
Foreign currency loans in EMEs supply driven: SNB paper
Swiss National Bank study finds evidence that the level of pre-crisis foreign currency loans in Bulgaria was partly supply driven