Asia
CEPR: inflation targeting a success in Asia
Centre for Economic Policy Research study says introduction of inflation targeting framework in Asian countries reduced inflation persistence
BIS: access to CDS markets reduces debt financing in Asia
Bank for International Settlements study shows credit default swap trading lowers bond issuance costs
RBA flags sharp rise in commodity prices
Reserve Bank of Australia Monetary Policy statement says high commodity prices could lead to further rate hikes
Sheng, Lemierre: finance must shift to serve real economy
China Banking Regulatory Commission's Andrew Sheng and BNP Paribas's Jean Lemierre say speculation must be quelled; Sheng urges Asia to develop investment banking industry, create regional champions
RBA’s Stevens: Australia must show greater interest in Asian policy
Reserve Bank of Australia governor Glenn Stevens says Australia must appreciate regional partners
Riskier investment strategy rewards GIC
Government of Singapore Investment Corporation Annual Report reports rise in portfolio returns after investment in riskier assets
Singapore tightens to spur faster appreciation
Monetary Authority of Singapore tightens policy further to allow for faster appreciation of Singapore dollar
RBNZ reports NZ$111m loss
Reserve Bank of New Zealand makes loss after appreciation in New Zealand dollar, slashes dividend payment to government
China overtakes Japan as world’s second largest economy
Figures from Japanese Cabinet Office show that China’s GDP exceeded that of Japan in the three months to June
BoK’s Kim: Asia was well prepared for market turmoil
Bank of Korea governor Kim Choong-soo says Asian crisis taught region many lessons that helped prepare them in onset of the last crisis
Asia’s low income countries will outpace other regions
IMF special advisor Min Zhu says Asian low income countries well placed to benefit from region’s boom
Cross-border collateral may alleviate dollar funding strains: Emeap
Executives’ Meeting of East Asia Pacific Central Banks says crisis revealed shortcomings in regional money markets; swaps deals, cross-border collateral could alleviate some problems
Goodhart: Anglo-Saxon model of banking is flawed
Bank of England former MPC member Charles Goodhart says Asian model of banking is better suited to staving off crises
BIS: Inflation targeting only one option
Bank for International Settlements study says inflation targeting is not necessarily the only prescription for price stability
Japan’s Yamaguchi apprehensive of Asian expansion
Bank of Japan deputy governor Hirohide Yamaguchi says emerging economies must be aware of overheating
East Asian, Pacific governors set for 15th annual meeting
Executives’ Meeting of East Asia and Pacific Central Banks gears up for 15th outing in Sydney; regional currency and financial stability issues to dominate agenda
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Asia must be “attuned” to prevailing shocks, says Strauss-Kahn
IMF managing director Dominique Strauss-Kahn says Asia’s quick rebound from recession should be followed by policies to counter risk of overheating economies
Temasek Holdings’ portfolio hits record high
Singaporean sovereign wealth fund Temasek Holdings says portfolio has hit record of $135 billion; fund chief credits increased exposure to Asian emerging markets
ECB bond purchase effect wearing off, warns IMF
Fund cautions that stability risks are on the rise again as effect of European Central Bank’s foray into bond markets loses bite; southern eurozone to face refinancing contest with US, UK and Japan
IMF: FDI undermined competitiveness in central and eastern Europe
An IMF study on real effective exchange rates reveals large volumes of foreign capital flows reduced competitiveness in central and eastern and European countries
China bubble unlikely to derail recovery: St Louis Fed's Bullard
St Louis Federal Reserve president James Bullard says concerns over bubble in China are over exaggerated
RBA minutes show central kept rates unchanged over euro fears
The Reserve Bank of Australia’s board kept rates on hold at 4.5% amid uncertainty over Europe’s fiscal position
External debt could prove perilous: NZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard cautions that the country faces external debt imbalances; calls for deficits to be slashed below 5% of GDP