Central Banks
BoE MPC member makes case for more stimulus
David Miles presents model that suggests monetary policy is probably still too tight in the UK; says more QE would be one way to address this, but other easing strategies could also work
Bank of Canada names new deputy governor
New deputy appointed as governor Carney and senior deputy governor Macklem unveil re-shuffle of responsibilities
NY Fed plans test run of small-firm open market operations
Fed prepares pilot programme to allow five smaller firms to act as counterparties in open market operations for a year, with the possibility of making the scheme permanent thereafter
Eastern Caribbean Central Bank sued over 'brazen act of thievery'
ECCB in the dock over management of failed bank; investors claim they should be compensated for loss arising from fraudulent ownership
Hungarian central bank may face police investigation
Reported police investigation follows State Audit Office allegations of unlawful behaviour at the central bank, including passing 'secrets' to the IMF
FOMC members 'undecided' over further asset purchases
Federal Open Market Committee displays more uncertainty over when to halt asset purchase programme; wary of buying more securities but scared of ending purchases too soon
IMF staff present mixed economic outlook following G-20 meeting
Report sounds note of cautious optimism as financial markets recover, but downside risks remain around the implementation of important policies in the US, Japan and Europe
New Zealand Reserve Bank 'prepared to intervene' in FX markets - governor
Graeme Wheeler says currency is over-valued, and investors should know that the Kiwi is 'not a one-way bet'
UK statistics office explains QE impact on national debt
ONS attempts to clarify accounting practices used in transferring cash reserves from Bank of England’s quantitative easing programme to the Treasury
Australian banks propose ‘layered' high-speed payments system
Industry body presents ‘fast payments solution' based on core infrastructure and additional services; RBA describes proposals as ‘substantial initial progress'
UK’s Turner says financial fragmentation may not be a bad thing
Chairman of UK FSA says restrictions to cross-border financial flows have important benefits that should be weighed against costs
IMF paper urges ‘meaningful debt restructuring’ in private sector
Study says 'now is the time' for governments to tackle households and corporate sector debt; out-of-court restructurings may be a useful tool
Report slams IMF over Article IV ‘formalistic rituals’
Independent Evaluation Office finds IMF has been consistently failing in some areas, with the Fund paying little attention to the needs of individual countries
BoE minutes signal ‘shift in remit' to support economic growth
Minutes reveal governor Mervyn King sided with expanding QE, leading analysts to speculate that inflation is no longer a target
Eurozone ‘funding for lending scheme' gains favour
ABN Amro says a eurozone FLS would be ‘the most practical way of dealing with the credit constraints of SMEs'; Sony Kapoor says ECB would be ‘irresponsible' to ignore it
Zhou Xiaochuan to stay on as governor of PBoC, says Reuters
China’s top central banker and renminbi reformer Zhou Xiaochuan may not step down from his post as previously expected, according to a news agency report
People: NZ names new currency head, Fischer shuffles Israeli appointment committee
Reserve Bank of New Zealand hires retail banking expert as new head of currency; Bank of Israel and Richmond Fed name new members to key advisory groups
BoJ paper finds asymmetric macroprudential growth impacts
Research suggests macroprudential policy is good at cooling the economy but less effective at heating it, while the growth impact differs between tools
Saudi Arabian Monetary Agency welcomes diversification away from oil
Annual report reveals boost to growth and falling inflation in 2011; welcomes government intent to expand non-oil sector
Draghi wants variable NAV for all European MMFs
European Systemic Risk Board – chaired by ECB president – demands changes to the way money market funds present asset value, but industry body slams recommendations
Dutch central bank wants audit investigation into its role in SNS collapse
DNB says it is "pleading" for European rules to be changed to allow an investigation by the national auditor
BoJ board divided ahead of new governor appointment
Minutes detail arguments made by two policy board members who opposed move to 2% target, and why they were overruled; Shinzo Abe hints Bank of Japan could lose independence if target is not hit
Bundesbank’s Dombret warns low interest rates are not 'suitable therapy'
Executive board member Andreas Dombret says exit from low interest rate environment must take place at ‘right time’; expounds damage it causes to savers