Governance
Redrado reinstated
Argentine central bank governor is back at work after a federal judge rules presidential decree unconstitutional
Fed appeals to withhold bailout names
Federal Reserve goes to a US appeals court to overturn ruling forcing it to reveal the institutions rescued to the tune of $2 trillion at the height of the financial crisis
Argentine president fires Redrado
Governor dismissed by presidential decree on Thursday evening following his refusal to hand over reserves
Philadelphia Fed Business Review
Review features articles on monetary policy implementation, banking design and the best way for central banks to transmit information
Korea holds amid concern over government influence
Bank of Korea leaves the cost of borrowing at 2% for 11th straight month; concern that presence of a minister at meetings will curtail independence
Argentina’s Redrado clings to position
Buenos Aires wants former governor Mario Blejer to take over following governor’s questioning of plan to raid reserves
Bakani named new Papua New Guinea governor
Bank of Papua New Guinea’s Loi Bakani succeeds Sir Wilson Kamit
Politician seen as likely replacement for Buba’s Fabritius
Reported move raises fears Bundesbank becoming increasingly politicised
Israel’s Fischer asked to serve second term – reports
Stanley Fischer reportedly asked by Israel’s prime minister to serve a second term at the Bank of Israel
Senator who proposed Fed overhaul to retire
Senate Banking Committee chairman Chris Dodd, who produced a sweeping bill that seeks to limit Fed power, announces that he will not seek re-election
Bank of Estonia leads the way in slashing budget
Estonian central bank sets an example by cutting costs by 10%, with EEK 1 m drop in staff costs; also expects income from reserves to fall
Benefits and limitations of transparency
A Centre for Economic Policy Research paper argues that while increases in transparency yield significant benefit at low levels, diminishing returns set in at higher levels
Chief Republican votes against Bernanke
Leading Republican on Senate Banking Committee Richard Shelby says Fed abused trust and confidence
Economists judge Carstens worthy successor
Carstens up to the job of heading the Bank of Mexico but concern exists over his replacement as finance minister
ECB to start building new HQ in spring
European Central Bank to finally begin construction after two-year delay
Denmark gets new assistant governor
Head of economics at National Bank of Denmark promoted
Carstens likely to replace Ortiz as BIS chair
Guillermo Ortiz will step down as chairman of the Bank for International Settlements’ board if he leaves the Bank of Mexico
Zambia’s Fundanga calls for more professionalism
Bank of Zambia’s Caleb Fundanga says the country’s civil service must urgently adopt higher standards of conduct
Nobel laureate Paul Samuelson dies at 94
Paul Samuelson, a key figure in the development of economics, passes away at home in Massachusetts on Sunday
Ecuador chief and general manager quit
Upheaval at the top of the Central Bank of Ecuador sees Carlos Vallejo and Karina Sáenz depart; cabinet minister Diego Borja is named new governor