Central Banks
Buba paper on benefits of cocos
Bundesbank study says benefits of contingent capital may lead to its incorporation in firms’ financing mix without mandate
RBA reports to parliament on SME lending
Reserve Bank of Australia business report says slowdown in small business credit growth reflected both demand and supply factors
Uganda’s Kasekende on benefits of African cooperation
Bank of Uganda deputy governor Louis Kasekende says stronger cooperation in African region will enable countries to exploit growth opportunities
Inflation often misunderstood: Atlanta Fed’s Lockhart
Atlanta Federal Reserve president Dennis Lockhart discusses common misuse of the term “inflation” in news reports
Weber does not plan on second term: Bundesbank source
Bundesbank president Axel Weber set to quit central bank in spring 2012 at the latest
Israel’s Fischer calls for international FX rules
Bank of Israel governor Stanley Fischer calls on IMF to draw up set of international rules on foreign exchange intervention
Bank’s inflation argument ‘fanciful’: ex-MPC’s Julius
Former Bank of England rate-setter DeAnne Julius says inflation expectations risk becoming unmoored; monetary policy acting for financial stability, ex rate-setter Tim Besley adds
Ex-Bank economists parry fears of wage-price spiral
Upsurge in inflation will not pass through into wages, economists at Fathom Consulting believe
Southern Sudan should adopt currency board: IMF mission chief
Fund’s Sudan mission chief Edward Gemayel says simplicity of currency board system advantageous for soon-to-be country; South preparing to adopt new currency
Norges Bank’s Nicolaisen gives advice on rate-setting in turbulent times
Norges Bank director of monetary policy Jon Nicolaisen on setting monetary policy in volatile economic times
Boom years not coming back: Bahrain’s Al Maraj
Central Bank of Bahrain governor Rasheed Mohammed Al Maraj says shareholders must recognise past boom years will not return and consolidate industries
Monetary policy not responsible for land price bubbles: Minneapolis Fed’s Kocherlakota
Minneapolis Federal Reserve president Narayana Kocherlakota disputed claims that land price bubbles are a consequence of loose monetary policy
Trichet on ESRB mandate
European Central Bank president Jean-Claude Trichet outlines vision for European Systemic Risk Board
Fed wants right to choose which nonbanks pose systemic threat
Federal Reserve rule proposes that it will have discretion to determine whether nonbank financial firms come under Financial Stability Oversight Council’s watch on case-by-case basis
Spain should consider regulatory overhaul: FSB peer review
Financial Stability Board peer review calls for Spanish authorities to consider new regulatory structure once market turmoil has subsided; separate review of Italy also published
PBoC hikes rates again
People’s Bank of China raises rates for second time in less than two months amid rising food prices; analysts predict further rate hikes this year
Czech President names new rate-setter
Czech economist Lubomír Lízal to replace Robert Holman on Czech National Bank rate-setting committee; bank board member Pavel Řežábek reappointed for second term
Buba’s Weber says EU agreement on fiscal sanctions lacks ambition
Bundesbank president Axel Weber says reforms of Stability and Growth Pact lack ambition and leave too much room for political discretion
Tackling fiscal deficit a priority: Shirakawa
Bank of Japan governor Masaaki Shirakawa says Tokyo must not allow fiscal deficit imbalance to persist just because it has not yet been punished in bond markets