Central Banks
Impact of pledge to keep rates on hold unclear: Bank of Canada
Canadian central bank research says conditional commitment to keep rates low has had mixed effect; study shows pledge lowered interest rates on government bonds, but findings not statistically strong
Fed loses appeal to protect names of bailed out banks
Federal Reserve appeal to withhold names and details of banks it bailed out in crisis dealt a further blow; central bank must now petition Supreme Court
IMF: commodity shocks explain variation in Latin American fiscal positions
IMF study finds impact of commodity price volatility on government revenue in Latin America linked to fiscal standing
Jamaica’s Wynter: financial literacy programme long overdue
Bank of Jamaica governor Brian Wynter says financial literacy programme will enhance economic development
Bank – CEPR Monetary Policy Roundtable
Summary of roundtable discussion comprising members of Bank of England and Centre for Economic Policy Research shows above-target inflation expected to be temporary
Executive director Hoogduin tipped as Wellink’s successor
Netherlands Bank executive director Lex Hoogduin frontrunner to take over as president when Nout Wellink’s term expires
Why monetary base control can offer stability
There is a way of replicating the big achievements of the gold standard without going back to gold, argue Brendan Brown and Robert Pringle.
Russia inches back toward dollar assets
Bank of Russia report shows percentage of dollar assets increased by end 2009, reversing trend set in two previous years; central bank also upped sovereign debt holdings and risk appetite declined
UK think tank forecasts 8% rates by 2012
Though now at record lows, Policy Exchange chief economist Andrew Lilico says interest rates in the United Kingdom may rise to 8% by 2012 to overcome double digit inflation
Former BoA chief risk officer Curl joins Singapore's Temasek as president
Temasek has hired former BoA CRO Gregory Curl and promoted Simon Israel as co-presidents to work alongside existing president and former SGX chief executive, Hsieh Fu Hua
Rate round-up: Hungary, Israel hold on uncertainty
Continued uncertainty in global and domestic economy prompts Hungary, Israel to leave rates unchanged
BoE considers option of further stimulus
Bank of England minutes show the Monetary Policy Committee opted to keep stock of asset purchases constant despite downward pressure on growth
Holocaust museum slams Romanian central bank over ruling on anti-Semite coin
US Holocaust Memorial Museum labels National Bank of Romania’s decision to keep anti-Semite coin in circulation “misguided”
Australia’s Battellino stresses importance of floating exchange rate
Reserve Bank of Australia deputy governor Ric Battellino says floating exchange rate regime helped dissipate external shocks to economy
IMF: bond issuance creates more effective monetary policy channel
IMF study says government bond issuance can help mop up excess liquidity, making monetary policy more effective
Nepal to end circulation of banknotes featuring ousted king
Nepal Rastra Bank says it will phase out old notes depicting former monarch
Regional Fed staff to make way for foreign officials at Jackson Hole: reports
Reports say ticket allocation for regional Fed presidents and research directors will drop from two to one; New York Fed markets chief no longer on invite list
Korea’s Kim: interest rate hikes had limited impact
Bank of Korea governor Kim Choong-soo says current monetary policy stance remains accommodative
NZ’s Bollard: goods tax to have temporary inflationary effect
Reserve Bank of New Zealand governor Alan Bollard says recent tax on goods and services will only have temporary effect on inflation
Romania keeps coin featuring anti-Semite in circulation
Romania says it will keep a controversial coin featuring an anti-Semite despite calls for ban by Jewish community