Central Banks
Riksbank’s Nyberg challenges Svensson over monetary policy framework
Riksbank deputy governor Lars Nyberg says monetary policy must support macroprudential policy; comments contrast with Svensson’s calls for monetary policy to focus on price stability
De La Rue shares soar on Oberthur takeover bid
Banknote printer De La Rue confirms preliminary takeover bid has been made; French firm Oberthur Technologies behind the move
Sarb refutes faulty rand note claims
South African Reserve Bank says it has full confidence in currency after media reports of flawed batches of R100 notes; issue surfaces ahead of first general meeting under new central bank law
Merkel enraged at vote to scrap US-EU Swift data deal: WikiLeak
Leaked wire from US embassy in Berlin says Germany’s Chancellor Angela Merkel was furious at German MEPs' decision to reject Swift data sharing deal with United States
QE3 possible if conditions warrant it, says Bernanke
Federal Reserve chairman Ben Bernanke says a further expansion of Treasury bill purchase programme is possible; stresses worries on unemployment
Market for CoCos could take years to develop, say Credit Institute panellists
Regulators may be sold on banks issuing loss-absorbing contingent convertible securities, but panellists at Credit Institute event question whether natural investor base for instruments exists
Countercyclical measures key to stemming Indian inflows: Strauss-Kahn
IMF managing director Dominique Strauss-Kahn says adoption of countercyclical macroprudential measures eased capital inflows to India
Supervision of Israel’s housing market paramount: Fischer
Bank of Israel governor Stanley Fischer warns against complacency in supervision of mortgage-lending industry in Israel
Yilmaz uneasy on proposed central bank move to Istanbul
Turkish lawmakers to consider relocating central bank from capital Ankara to Istanbul; central bank governor Durmuş Yilmaz would rather stay in Ankara
Central Bank of Turkey – Inflation Report (Q4 2010)
Central Bank of Turkey’s fourth quarter Inflation Report says despite strong domestic demand, weak external demand forced the central bank to keep rates low
Kansas Fed’s Hoenig open to shorter lag in releasing FOMC transcripts
Kansas Federal Reserve president Thomas Hoenig says nothing inherently wrong in publishing rate-setter meeting transcripts with delay of less than five years
Nigeria to launch new mobile payments system
Central Bank of Nigeria grants licence to create system that will provide banking services to all with a mobile phone
Trichet to eurozone governments: take the lead on debt crisis
European Central Bank president Jean-Claude Trichet says debt crisis is within governments’ remit, hinting at support for extension of European Financial Stability Facility
Brazil raises reserve ratio to ease impact of capital inflows
Central Bank of Brazil lifts reserve requirement ratio in bid to stem inflationary pressures resulting from capital inflows
ECB bucks market expectation with silence on further bond purchases
European Central Bank extends liquidity operations but does not commit to more bond purchases; move comes against market anticipation, dividing analysts
Fed audit sheds light on scale of deterioration in AIG vehicles
Federal Reserve publishes data illustrating the fall in asset value and quality in Maiden Lane II and III vehicles; Fed’s-eye view on crisis events revealed
Nordea chief to head European banks' trade body
European banking lobby group appoints Nordea chief executive Christian Clausen as president; Clausen takes over from ex-UniCredit chief Alessandro Profumo
BoE paper: capital inflows primary cause of US housing bubble
Bank of England study shows large capital inflows had a greater effect than monetary policy in generating housing bubble in United States
IMF paper: Dutch disease weakens growth
Fund study finds evidence that overvaluation and volatility of the real exchange rate reduces growth