Reserves
Russia to trade on stock exchanges
The Russian government has passed a law which will permit the Central Bank of Russia to trade securities on the over-the-counter market and on stock exchanges.
Zhou parries calls for imbalances adjustment
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank would not allow for a faster appreciation of the renminbi to reduce global imbalances.
Subprime aftermath risks exacerbating imbalances
Financial market turbulence, together with a significant slowdown in the United States, could lead to and be exacerbated by a disorderly resolution of global current account imbalances, says the Bank of Canada's latest Financial System Review.
Eurozone needs to deal with global imbalances
The euro area must prepare for the orderly resolution of global imbalances, says Klaus Liebscher, the governor of the Austrian National Bank.
New thinking on large current-account deficits
Governments should not necessarily intervene to reduce the large current-account deficits of the United States and many of the euro area economies, research published by the International Monetary Fund finds.
Norway's oil fund avoids FX after recent losses
The Bank of Norway said it would not buy foreign exchange for its sovereign wealth fund, the Government Pension Fund, in December. The announcement follows news that Nkr104.4 billion ($18.9 billion) was knocked off the value of the fund, a store of the…
Jury still out on global saving glut theory
New research published by the Reserve Bank of Australia finds limited support for the argument that financial crises have contributed to the current-account surpluses in developing economies.
UAE governor denies revaluation rumour
Sultan Bin Nasser Al-Suwaidi, the governor of the Central Bank of the United Arab Emirates, on Thursday moved to deny reports that the central bank would allow the value of the dirham to rise by up to 5% on Sunday.
Koruna's rise presents mixed blessing
Ludek Niedermayer, a vice governor of the Czech National Bank, parried calls for the central bank to act on the appreciation of the koruna and said that the increase in the currency's value made euro accession more favourable.
Dollar fall hampering Chinese reserve management
Wen Jiabao, China's premier, said on Monday that the fall in the value of the greenback was making it difficult to manage the country's reserves.
Zhou parries appreciation calls
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank could widen the renminbi's trading range if deemed necessary.
Central banks: the gorillas of foreign exchange
Chris Turner, the head of foreign exchange strategy research at ING wholesale banking in London, evaluates the possibility of sterilisation by central banks next year
Estonia dismisses currency claims
The Bank of Estonia on Monday denied rumours that it was set to devalue the kroon, which is pegged to the euro.
China must be more responsible on yuan: Trichet
It is essential that China assumes the global responsibilities that accompany its growing economic clout, says Jean-Claude Trichet, the president of the European Central Bank (ECB).
China repeats efforts to curb liquidity
The People's Bank of China said on Thursday that it will introduce a raft of further measures to control what it described as the country's "severe" liquidity problem.
Dollar hits new low on back of Chinese comments
Sterling and the euro reached record highs against the dollar on Wednesday after a senior Chinese official said the government should diversify its foreign exchange reserves by swapping dollars for stronger currencies.
Strengthen dollar or face "economic war": Sarkozy
Nicolas Sarkozy, France's president, has told American politicians that the dollar must appreciate in order to avoid an "economic war" between the United States and the eurozone.
The Federal Reserve and the crisis of 2007
Stephen G. Cecchetti reviews the unfolding of the recent credit market turmoil and the Federal Reserve’s response to it. The Fed, he suggests, got it right
The Fed in the international central banking community
The Volcker Fed provided the lead for an international consensus in favour of low and stable inflation. But the institutional arrangement for exchange rate policy remains the Achilles heel of the current consensus, argues Marvin Goodfriend.
Dollar at all-time low against euro after Fed cut
The greenback reached a record low against the euro following the Federal Open Market Committee's decision to cut rates by 25 basis points. At its peak, the euro was worth 1.4504 against the dollar on Thursday.
Pressure rising over currency, says China's Yi
The contrast between US and Chinese monetary policy is exacerbating the pressure on the People's Bank of China to allow the renminbi to appreciate.
Non-bank financial firms' impact on the eurozone
The growth in the amount of deposits held by financial institutions other than banks in the euro area has led to the integration and deepening of the region's financial markets and a shift in the attitude of investors towards risk, research by the…
Vietnam government calls on CB to stabilise dong
Nguyen Sinh Hung, Vietnam's deputy prime minister, has asked the State Bank of Vietnam to stabilise the value of the dong currency against the dollar.
China fights back over G7 currency criticisms
Wu Xiaoling, the deputy governor of the People's Bank of China, said the country's current policy on the appreciation of the renminbi was a responsible one despite claims to the contrary by the world's leading finance ministers.