Central Banks
New governor for the Bank of Central African States
Former director-general Lucas Abaga Nchama takes over at the top after the firing of his predecessor, Philibert Andzembe, over an embezzlement enquiry and unexplained losses
Ex-Bank deputy wants shift in monetary policy remit
Former Bank of England deputy governor and Financial Services Authority chairman Howard Davies calls for central banks to broaden ambit of monetary policy; insists supervision best handled outside the central bank
Monthly report on covered bond purchases – ECB
ECB’s January report shows demand is stronger in primary than secondary markets
Kenya gets first credit-reference bureau
Central bank governor Njuguna Ndung’u says credit bureaux will increase the availability and lower the cost of loans for borrowers
Ghana suited to inflation targeting: IMF paper
International Monetary Fund paper says the country does not suffer problems in credibility, which helps in the inflation targeting framework
BIS’s Caruana: central banks up to stability task
Bank for International Settlements’ Jaime Caruana says crisis highlighted the prominent role central banks should have in financial stability policy
Watch money growth like ECB does: Trichet
ECB president Jean-Claude Trichet says the central bank has always considered monetary aggregates in its policy decisions, and urges the rest of the world to do so
Zim’s Gono to meet Biti, Mugabe over diamond seizure
Reserve Bank of Zimbabwe’s Gideon Gono to meet with president and finance minister after police seize a reported 29kg of diamonds from the central bank
Israel inches towards rate-setting board
Bank of Israel law, which would set up a six-member Monetary Policy Committee, passes first of three readings in the Knesset
Inflation targeting the best available option: RBNZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard says although the method has not always ensured stability, it is better than the alternatives
Fed’s Kohn: don’t underestimate interest-rate risk
Federal Reserve’s Don Kohn says it is crucial interest-rate risk does not undermine the safety and soundness of the most important lenders
UK FSA chief executive in quit surprise
Financial Services Authority’s Hector Sants surprises City with decision to depart in the summer after three years as chief executive
Hungary to buy forint mortgage bonds to spur lending
Move by the National Bank of Hungary highlights concern over return to euro financing, seen as key cause of crisis
Towards a euro monetary fund
Daniel Gros and Thomas Meyer team up on fix aimed at stopping another Greece
No winners from Redrado’s row
The Central Bank of Argentina's conflict confronts the country with a Catch-22 situation from which the authorities cannot profit, argues Vladimir Werning, an economist at JP Morgan.
Barbados’ Worrell: supervisors of the region unite
Central Bank of Barbados’ governor urges Caribbean supervisors to ramp up cooperation
Chile on the pros and cons of connectivity
Central Bank of Chile looks at how shocks are transmitted across markets and banking systems
Europe is losing the “war on cash”: report
ECB and European Commission efforts to promote cashless payments are having some effect, but people still prefer cash, report finds
Greece should go to IMF, not EU for aid: Issing
Former ECB chief economist advocates tough love from Washington, rejects Brussels bailout; position conflicts with senior EU bureaucrat
Ex-Nigeria chief loses state governor race
Nigerian ex-governor Charles Soludo places third in the bid for governorship of the resource-rich Anambra state after a spirited campaign
Kuwait makes surprise 50bp cut
Central Bank of Kuwait trims half a percentage point off key rate in the face of low inflationary pressures and to encourage lending to non-oil sectors