Central Banks
Kansas City Fed: QE effective at zero bound
Kansas City Federal Reserve study shows quantitative easing is effective at lower interest rate bound
Lessons from Bill Taylor and the last financial crisis
Kansas City Federal Reserve publishes a short biography of former FDIC chairman
Washington begins writing out reliance on ratings agencies
Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Office of Thrift Supervision begin search for new measure of creditworthiness
Bank leaps to defence of off-target inflation forecasts
Bank of England lifts inflation predictions on volatility from short-term shocks, mounting spirited defence of erroneous predictions to date; slightly lowers growth expectations
New York Fed details how it plans to implement latest policy move
New York Federal Reserve says it will hold levels of domestic securities at $2.054 trillion by buying long-term Treasuries; plans to steer away from scarce markets
King takes firm line on QE, direct lending
Bank of England governor Mervyn King says small businesses’ problems won’t be solved by direct help from the central bank; stresses that banks will be weaned off liquidity support
RBI moots new bank licences to increase competition
Reserve Bank of India says it may issue new bank licences; higher capital requirements are expected
FOMC pledges to maintain scale of asset purchases
Federal Reserve fails to announce additional quantitative easing but pledges to keep size of purchases at current levels; calls for more easing spurred by weak jobs data
Serbia’s Marković: effective hedging will ease FX risks
National Bank of Serbia vice-governor Bojan Marković says Serbia must adopt hedging tools to reduce foreign currency exposure
BIS’s Hannoun flags dangers of exceptional measures
Bank for International Settlements’ Hannoun calls on central banks to shrink balance sheets
Commentators sharpen knives ahead of Bank’s forecasts
Leading media outlets criticise Bank of England’s forecasting methods ahead of Wednesday Inflation Report; former Bank economists say new model welcome but will not remedy rate-setters unfounded optimism, which underpins off-target predictions
Sarb bill passes in parliament’s lower house
South Africa’s National Assembly approves package of amendments edifying central bank law against shareholder machinations
Israel’s Fischer starts search for new bank supervisor
Bank of Israel governor Stanley Fischer appoints committee to find replacement for departing bank supervisor Rony Hizkiyahu; hails Hizkiyahu’s leadership in a difficult time
Mauritania’s central bank releases new note
Central Bank of Mauritania note to be highest denomination in circulation
Nomura snares RBS's Melph as global head of central bank and sovereign wealth sales
Central banks and sovereign wealth funds have become an increasingly important source of revenue for derivatives dealers.
BoK minutes: Holding rates could cause economic imbalances
Bank of Korea Monetary Policy Committee minutes show decision to hold rates was not so clear cut
Monetary policy has scant impact on commodity prices
European Central Bank research finds the impact of monetary policy on prices is rather limited, though statistically significant
Bank of Israel – minutes of August rate decision
Minutes show meeting participants all supported governor’s decision to raise rates