Central Banks
Former HKMA head Yam set to join UBS board
Swiss investment bank UBS nominates HKMA former chief executive Joseph Yam as candidate to its board of directors.
Bank of Italy: north hit hardest by crisis
Bank of Italy study says geographical differences in growth reflects dependence on industry
Crisis makes Tokyo more insular
In the first of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
Bank of Albania: country has seen double digit FDI growth
Albanian central bank monetary policy statement says foreign direct investment rose by double digits in 2008
BIS: Inflation targeting only one option
Bank for International Settlements study says inflation targeting is not necessarily the only prescription for price stability
Lending in Japan remains subdued: BoJ survey
Bank of Japan survey on bank lending reports continued weakness in demand for loans by firms
Dodd-Frank starts to bite as Obama signs bill into law
US President Barack Obama draws a line under year-long legislative process, hailing bill’s benefits to consumers; ratings agencies flustered by exposure to ‘expert liability’
ECB will always end up bailing out sovereigns: Buiter
Former Bank of England rate-setter Willem Buiter says ECB will lose in “game of chicken” with finance ministries over who rescues sovereigns
Hungary prepares bracing bank tax, wage caps
Hungarian parliament set to approve hefty bank levy to shear budget deficit; public sector wage freeze will affect central bank employees, despite ECB protests
Laos to liberalise cross-border transactions
Laos notifies IMF that it accepts plans to adopt measures that will end restrictions on international payments and transactions
US deposit insurance ceiling permanently raised to $250,000
Dodd-Frank law makes temporary $250,000 limit permanent; Federal Deposit Insurance Corporation says new law will apply retroactively
Tax increase creates dilemma for BoE policymakers
Bank of England hints at further stimulus despite signs inflation will remain high on the back of value added tax hikes
Faulty paper halts note production at De La Rue
Banknote printer De La Rue suspends production at its Hampshire plant owing to paper fault; shares plummet on company statement that 2010 production and sales will be affected
BoE: UK consumer confidence continues to slump
Bank of England field survey on business conditions shows consumer sentiment slightly weaker in second quarter of 2010 as sales declined
BoJ’s accommodative policy will be consistent, say minutes
Bank of Japan minutes show central bank will press ahead with accommodative polices to tackle deflation in economy
Japan’s Yamaguchi apprehensive of Asian expansion
Bank of Japan deputy governor Hirohide Yamaguchi says emerging economies must be aware of overheating
RBA’s Stevens: Economic downturn will have long lasting implications
Reserve Bank of Australia governor Glenn Stevens says financial crisis will have longer lasting impacts to advanced economies
Sarb trumps investors in fight to amend law
South African parliamentary committee approves amendments proposed by central bank to protect it from shareholder attack; bill now expected to be signed into law
Price stability rightly remains sole focus of monetary policy: IMF
Fund directors say macroprudential measures, rather than monetary policy tools, should deliver financial stability; propose measures including dynamic provisioning framework
Swiss National Bank set to post half-year loss of $3.8 billion
SNB forecasts exchange-rate losses of more than Sfr14 billion on the back of the euro’s decline; gold gains and FX positions pare losses
BoE expands discount window collateral list
Bank of England to accept loans to individuals and businesses as collateral for discount window in order to provide more liquidity in times of stress