Central Banks
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold
New government member for Reserve Bank of India’s board
Following a legal amendment allowing the Indian government to appoint two members of the Reserve Bank of India’s board of directors, the latest appointment is made
Fed’s Plosser warns of blurring institutional boundaries
President of the Philadelphia Fed warns of hazards when central banks get involved in fiscal policy
Brazilian research looks at regulatory policies and capital flows
Researchers find counter-cyclical regulatory policies may need to be supplemented by other, more targeted, macro-prudential instruments
Praet discusses lessons from the crisis
ECB executive board member says speed at which imbalances result in systemic risks is a major lesson to learn; talks of emerging new Europe
Buba’s Weidmann defends German role in eurozone rescues
President of the Deutsche Bundesbank says criticising German authorities for their action, or lack of it, in helping struggling eurozone counterparts is “quite inappropriate”
Korea braces for higher oil prices
Bank of Korea governor holds economic review with leading academics and others; group discusses rising oil prices
Central Bank of Hungary governor offers to give up salary
Andras Simor attempts to ease conflict with government; desperate for the country not to lose ability to negotiate with International Monetary Fund over emergency funding
EU freezes assets of Syrian central bank
Council of the European Union announces freeze on central bank assets among string of sanctions; EU “increasingly appalled” by situation in the country, says council
Lagarde stresses importance of firewalls
Managing director of IMF says she is “encouraged” by G-20 commitment to strengthening firewalls to limit spread of economic damage
IMF approves conditional distribution of gold profits
International Monetary Fund agrees to distribute $1.1 billion of profits from gold sales; member countries must first pledge contributions to Poverty Reduction and Growth Trust
ECB alters external communication policy
European Central Bank will no longer mass-produce hard copies of its Annual Report; document will be available online
Carney expresses faith in flexible inflation targeting
Bank of Canada governor says flexible inflation targeting provides “robust framework for all seasons”
IMF paper studies Indian growth spillovers to south Asia
Results of a panel growth regression suggests India’s growth has impacted region since 1995