Articles by Yusuf Yassin
Uncertainty over resignation of Pakistan governor continues
State Bank of Pakistan spokesperson says governor Shahid Kardar's resignation has 'not yet' been accepted
Greece inches closer to default status
Fitch downgrades Greece’s long-term credit rating to CCC, one notch above default, in an active week for ratings agencies
Kenya reverses rate decision
Central Bank of Kenya reverses earlier rate increase on overnight discount rate but imposes restrictions on its discount window; analysts say measures amount to tightening in monetary policy
ECB “sidelined” in sovereign crisis debate, says analyst
Eurogroup lays out plans to provide bail-out fund with greater flexibility to address sovereign risks; analyst says message sends signal European Central Bank is being “sidelined” in discussion
State Bank of Pakistan left in dark over governor’s resignation
Reports emerge that State Bank of Pakistan governor Shahid Kardar has resigned just over a year into job; central bank staff say they are unaware of any changes
European debt concerns spark bond market sell off
European bond markets tumble amid growing concerns over Italy’s ability to tackle its fiscal deficit; uncertainty over Greek rollover adds to market uncertainty
New lending rules for Chinese SMEs overlook deeper structural issues in credit market, say analysts
China Banking Regulatory Commission introduces new measures to boost lending to small businesses; analysts say real problems lie in regulatory framework that favours the state sector
China’s July rate hike will be last for 2011, say analysts
Analysts say slowdown in growth suggests People’s Bank of China will not hike rates beyond Wednesday’s 25-basis-point rise
Portugal downgrade reignites sovereign debt fears
Moody’s downgrades Portugal’s credit rating four notches to junk status; decision sends shudders through European markets as contagion spreads across periphery
Uganda launches early retirement scheme
Two-hundred and fifty employees at the Bank of Uganda have retired as the retirement age is reduced to 55 years old
"Hawkish" Riksbank raises repo rate
Riksbank raises repo rate by 25 basis points amid growing inflationary pressures in Sweden; central bank does not alter future repo path to analysts' surprise
Sovereign debt crisis dominates BoE’s first FPC briefing
European sovereign debt crisis leads discussions at Bank of England’s first interim Financial Policy Committee briefing; body issues five policy recommendations to Financial Services Authority
Bank considers further QE
Bank of England Monetary Policy Committee minutes reopens debate on further quantitative easing; new external MPC member Ben Broadbent votes to hold rates
IIF’s Dallara criticises Basel Committee for shortcomings on governance reform
Institute of International Finance managing director Charles Dallara “deeply troubled” by the Basel Committee’s lack of focus on improving banks’ risk culture
Ireland proposes haircuts for Anglo Irish bondholders
Irish finance minister Michael Noonan says Anglo Irish Bank senior bondholders should receive haircuts; pits the Irish government against the European Central Bank
Greece debate grips European markets
Dutch finance minister Jan Kees de Jaager says private credit holders of Greek debt should bare 30% of losses on paper; Fitch says any exchange of distressed debt would constitute a default
Ex-IMF adviser calls for 'hard rules' on cross-border resolutions
Former IMF adviser Rosa Lastra says international regulatory framework should apply 'hard' rules on cross-border resolutions; says FSA was scapegoat in crisis
SWF legal immunity poses challenge for lawmakers
Panel on sovereign wealth funds says use of foreign immunity in legal disputes could jeopordise independence of funds
UK lawmakers highlight lack of market expertise on FPC
Treasury Committee labels Alistair Clark an “insider”; calls on Michael Cohrs to make more public pronouncements
Argentina’s Blejer likens Greece bailout to ponzi scheme
Former Central Bank of Argentina president Mario Blejer compares Greece bailout to ponzi scheme; analyst expects restructuring of debt to be delayed until 2013
S&P places Italy on negative outlook
Standard & Poor's places Italy’s long-term credit rating on negative outlook; analysts say downgrade not expected in near term
Fed minutes reveal split over exit strategy
Minutes from Federal Open Market Committee meeting show division among ranks over monetary policy exit strategy
SEC approves credit rating agency reforms
Securities and Exchange Commission unanimously votes in rules and amendments for greater transparency of credit rating agencies' operations
Kohn apologises for financial crisis
Former Federal Reserve vice-chairman and external FPC member Don Kohn apologises for failures that led to financial crisis; says FPC will need to ensure new tools are not circumvented by markets