Central Banks
IMF urges further Spanish reforms
IMF mission to Spain says authorities have implemented strong fiscal and structural reforms to aid recovery, but plans need to be strengthened
Canada unveils polymer banknotes
Canada unveils new polymer banknotes; changes to combat counterfeiting
China ups gold coin production
People’s Bank of China more than doubles issuance of gold panda coins for 2011; demand outstripping minting
Bank of Finland highlights threat of dual imbalance in China
Bank of Finland study shows large external imbalances in China’s current and capital account risk creating asset bubbles
Israel’s Fischer highlights risk of Israeli housing bubble
Bank of Israel governor Stanley Fischer voices concerns over rapid rise of house prices in Israel
RBA minutes say further rate hike will be necessary
Reserve Bank of Australia monetary policy minutes show members of Reserve Bank Board voted to keep rates on hold; signals further tightening in future
Economic models not a panacea for policymaking: Bank’s Fisher
Bank of England executive director Paul Fisher highlights limitations of economic models for forecasting and monetary policy
Panellists' ‘shock’ at lack of investigation of BoE failings
Panellists giving evidence to the Treasury Committee expressed shock at absence of high-level investigation into the Bank of England’s actions in the financial crisis
IMF warns European contagion is resurfacing
IMF Global Financial Stability Report highlights growing concern over debt sustainability of European periphery countries; advanced economy downward growth revision signals two-speed recovery
Carstens and Lagarde in Washington for interviews
Interviews happening this week; decision still on course for June 30
West Africa central bank to audit Ivory Coast offices: reports
Central Bank of West African States wants audit of Ivory Coast offices
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
IMF paper identifies risk of low reserve adequacy in Central America
Fund study shows Central American countries are vulnerable from low international reserve accumulation
BoJ’s Nishimura highlights demography link to asset bubbles
Bank of Japan deputy governor Kiyohiko Nishimura says asset market bubbles are correlated to demographic changes
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
Reserve Bank of India deputy governor retires
Shyamala Gopinath retires as deputy governor of the Reserve Bank of India; two new executive directors announced
ESM will wrap up restructuring dispute: IMF
IMF says completion of European Stability Mechanism will end unproductive debate on restructuring debt of peripheral countries
Trichet says euro is ‘stable and credible’
Trichet offers reassurance on credibility of the euro; says global imbalances are a concern, but euro area does not contribute to them
Angola stops foreign currency loan issuance
National Bank of Angola bans commercial banks from issuing loans in foreign currency
Buba’s Dombret on drawing up shadow banking sector
Bundesbank executive board member Andreas Dombret says monitoring and regulating shadow banking sector will be key to financial stability