Central Banks
IMF’s Strauss-Kahn: unemployment bears grave social costs
IMF managing director Dominique Strauss-Kahn says failure to tackle unemployment could lead to lost generation
IMF: successful financial liberalisation requires good governance
Fund study shows that good political institutions increase opportunity for sustainable financial deepening
Norway’s Gjedrem says return to inflation target will be delayed
Norges Bank governor Svein Gjedrem says weakness in growth will lead to concessions on inflation mandate
BoJ's Nishimura says subprime crisis mirrored Japan’s 80’s housing bust
Bank of Japan deputy governor Kiyohiko Nishimura discusses commonalities between Japan’s recession in 1980 and United States subprime mortgage crisis
Shirakawa named Asian Consultative Council chair
Bank of Japan governor Masaaki Shirakawa will take over from Bank Negara Malaysia chief Zeti Akhtar Aziz as chair of council housed within Bank for International Settlements
Canada’s Carney pushes for change in global monetary order
Bank of Canada governor warns international monetary system “an increasingly unstable hybrid of fixed and floating regimes”; cites role of G20 as premier forum for economic cooperation
Growth in European cashless payments subsides
European Central Bank payments statistics shows amount of non-cash payments increased but at a slower rate than in previous eight years
Peru raises reserve requirement in bid to stem capital inflows
Central Bank of Peru increases reserve requirement on overseas loans to 75%
Bank of Israel: Currency Department Annual Review (2009)
Bank of Israel currency department’s report for 2009 reviews new cash payments system policy
SNB: money market rates best target during recessions
Swiss National Bank study shows money market-based monetary policy procedures create greater stability
Trichet warns Romania of complacency
European Central Bank president Jean-Claude Trichet advises Romania to actively tackle deficit at event marking central bank’s 130th anniversary
Goolsbee to replace Romer at helm of Council of Economic Advisers
Former University of Chicago professor Austan Goolsbee named as successor to Christina Romer
National Bank of Hungary tests hybrid inflation targeting rule
National Bank of Hungary study says hybrid regime takes best of price-level and inflation targeting regimes
Rate round-up: Canada, Peru hike as Sarb cuts
Canada hikes rates while South Africa cuts on rising rand; continued uncertainty in global economy prompts Korea, Japan and Australia to keep rates steady
India’s Chakrabarty demands technological improvement in banking services
Reserve Bank of India deputy governor Kamalesh Chandra Chakrabarty says country needs to update banking infrastructure to maintain current growth levels
ECB’s Bini Smaghi calls for more studies into sovereign risk
European Central Bank executive board member Lorenzo Bini Smaghi calls for more research into how markets react
IMF sells ten tonnes of gold to Bangladesh Bank
Sale to Bangladesh Bank takes total Fund gold sales to 310 tonnes
Sarrazin quits Bundesbank
Bundesbank executive board member Thilo Sarrazin leaves central bank after other board members called for his dismissal over anti-Semitic remarks
Britain names new head of fiscal watchdog
Institute for Fiscal Studies director Robert Chote is chancellor George Osborne’s choice to head government’s Office for Budget Responsibility; Chote likely to be approved by Treasury Select Committee
IMF on why bad news increases volatility, decreases leverage
IMF research attempts to explain why bad news is often associated with higher future volatility
France’s Redouin favours central banks’ new dual role
Banque de France first deputy governor Jean-Paul Redouin says having financial stability and monetary policy under one roof will strengthen surveillance of financial sector