Central Banks
Bank of Spain governor warns against complacency
Miguel Fernández Ordóñez outlines progress made in reforming Spanish banking sector; stresses there is more to be done, and that European interventions have merely bought time to push changes through
Bernanke outlines shadow banking reform priorities
Fed chairman outlines regulatory steps taken so far in relation to shadow banking; says careful monitoring and supervision of the whole system are required
Riksbank presents monetary policy report to Swedish parliament
Swedish central bank outlines monetary policy decisions from 2011; reveals international pressures hampered growth
SNB’s Jordan describes task of maintaining franc exchange limit
Thomas Jordan sets out how the Swiss National Bank has been fighting to keep the franc-to-euro exchange limit in place; explains slight slip-up last week allowing some trades to happen at lower rate
Bank of Japan holds off rate change and further easing
Japanese central bank acknowledges "critical challenge" of overcoming deflation, but keeps rate unchanged for now
IMF working paper studies impact of financial crisis on low-income countries
International Monetary Fund research investigates shocks that caused the crisis; concludes that low-income countries must take broader view when forming monetary policy
Irish central bank predicts slower growth as export markets tighten
Central Bank of Ireland says emergency budget shouldn’t be necessary in 2012; return to stability forecast even as growth slows
NBB working paper pays tribute to 'architect of the euro'
National Bank of Belgium working paper highlights role of Tommaso Padoa Schioppa in the creation of the euro
Canada's Boivin laments challenges posed by ageing population
Jean Boivin discusses problems of Canada's ageing population and champions the role of the central bank in meeting the challenge
Bank of Thailand opens representative office in Beijing
Thai central bank opens office in Beijing; third foreign representative office aimed at developing “understanding” of China’s economic developments
China raises QFII quota by $50bn to $80bn
Chinese authorities more than double the investment quota available to approved foreign institutional investors wanting to invest directly into China’s restricted financial markets
Korean government issuers unlikely to benefit if sovereign is upgraded – Moody's
Government-related issuers not likely to be upgraded alongside Korean sovereign as rating agencies place more weight on underlying credit fundamentals
Central banks well placed to deliver on macro-prudential policy, says ECB’s Constâncio
ECB vice-president outlines macro-prudential roles for European central banks
SNB set to keep rates low and maintain floor
Accommodative monetary policy likely to continue as growth slows in Switzerland; international climate and strength of currency continue to worry Swiss National Bank, according to annual report
IMF research links wage growth and unemployment in South Africa
Fund working paper asserts link between wage rate growth exceeding productivity growth and rising unemployment in South Africa
Chakrabarty: Crisis has turned policy frameworks 'on their head'
Reserve Bank of India deputy governor tells conference that policy focus has moved towards future crisis prevention
Italy could face more swap terminations
Italian politicians claim Morgan Stanley's swap termination in January will be a one-off - but dealers say Italy's debt office is subject to other clauses that could have the same effect
BoJ's Kamezaki says efforts to reform Europe no more than 'stop-gaps'
Bank of Japan’s Hidetoshi Kamezaki says fiscal reform and boosting funds for 'firewalls' are essential to prevent a future crisis
Danish central bank publishes essays on risk in interest rates and inflation modelling
National Bank of Denmark publishes essay series on risk inherent in interest rate and inflation modelling
QE3 prospects diminish slightly after FOMC minutes release
FOMC minutes provoke fresh questions as to likelihood of further QE; Fed board members cautious on growth prospects
House of Lords committee slams Europe’s proposed Tobin tax
A committee of UK lawmakers hits out at European Commission proposal to introduce a new financial transaction tax in the European Union
Draghi places emphasis on governments to drive EU growth
ECB president says national policy-makers must take measures to develop the competitiveness of their economies; downside risks prevalent for euro economy
SIG to keep an open mind on RWA probe, says Himino
The Basel Committee’s standards implementation group has begun an investigation into RWA consistency, but chair Ryozo Himino says there might be good reasons for discrepancies