Central Banks
RBI cuts reserve ratio to improve lending conditions
Reserve Bank of India reduces cash reserve ratio for banks by 75bp; move injects 480 billion rupees into banking system
Norway to issue new coin to mark universal suffrage
Norges Bank announces plans to introduce a commemorative 10-krone coin 100 years after suffrage was extended to all women
Filipino governor announces new fund to assist small businesses
New office building opened in Roxas City; coincides with introduction of Capiz Credit Surety Fund and public learning programme in the region
Greece’s private bondholders approve ‘voluntary’ debt swap
An 85.8% majority approves Greek sovereign debt swap but strong-arm tactics raise concerns about the future legal certainty of sovereign bonds
Lord Kingsdown pays tribute to BoE’s George Blunden
“If he approved, it was likely to be the right answer,” says former governor of the Bank of England; other former central bank colleagues pay respects to man with "highest moral standards"
Australia’s Lowe confronts the country’s changing economy
RBA deputy governor calls on Australia to make the most of the opportunities a shifting world economy offers the country
BIS study looks at financial volatility prediction
Bank for International Settlements researchers investigate the prediction of financial volatility using economic variables
IMF paper studies bank asset quality in emerging markets
IMF research paper finds significant links between banks' asset quality, credit and macroeconomic aggregates
Governor Zeti encourages use of Islamic financing
Zeti Akhtar Aziz says Islamic finance presents new opportunities to support the economy and overall financial stability
Lagarde chooses new IMF secretary
Christine Lagarde picks Jianhai Lin as secretary of the Fund; becomes first Chinese national to hold the post
Former Bank of Haiti governor shot dead
Venel Joseph, former governor of the Central Bank of Haiti killed in his car; held office as chief of the central bank between August 2001 and March 2004
Asia-Pacific keeps rates on hold as Brazil surprises with 75bp cut
Korea, Indonesia and New Zealand keep benchmark interest rates on hold despite surprise 75 basis point cut by the Central Bank of Brazil to 9.75%
SNB spent $19.6 billion maintaining minimum exchange rate
SNB purchased foreign currency to a value of $19.6 billion in 2011; central bank also reveals larger than expected profit
UK payment card fraud falls to 10-year low
UK card fraud has fallen sharply due to ‘chip and pin’ and new online payment services, reaching a 10-year low in 2011. Online banking fraud has also fallen but bogus mortgages remain a concern
Philippines economic newsletter looks at roots of financial crisis
Central Bank of the Philippines investigates international claims and cross-border lending during the global financial crisis
IMF paper analyses corporate investment in India
International Monetary Fund research paper looks into how the business environment affects corporate investment in India, which has been sluggish since the financial crisis
Fed paper studies the effect of Tarp on bank risk-taking
Discussion paper says the increase in risk-taking without an increase in lending following Tarp capital injections “is suggestive of moral hazard due to government ownership”
South Africa records increase in value of gold reserves
SARB reveals $186 million rise in value of gold reserves; overall reserves value up $438 million