Central Banks
Sir Mervyn King collects more titles in Basel
BIS reveals Bank of England governor to chair Global Economy Meeting, Economic Consultative Committee and Group of Governors and Heads of Supervision; takes over in November
BIS Annual Report highlights action needed in key global economies
General theme of Annual Report is of slow global recovery; the United Kingdom, the United States and China all pinpointed for action
Lithuania plans public education programme
Central bank in discussions with banks and ministry of finance to provide public education programme; central bank governor sees vital importance in the endeavours
RBI’s Subbarao says capital flows are advisable
Reserve Bank of India governor Duvvuri Subbarao distinguishes between strategic and tactical capital controls
ECB paper on exchange rate misalignments
European Central Bank study identifies methods to improve policymaking under exchange rate imbalances and fluctuations in capital flows
Sarb’s Mnyande emphasises importance of monetary policy in recovery
South African Reserve Bank chief economist Monde Mnyande says monetary policy to play more prominent role in policymaking
Ex-BIS GM on limitations of narrow banking
Bank for International Settlements former general manager Sir Andrew Crockett says narrow banking will not prevent excess build-up in credit
Draghi appointed ECB president
European Council approves appointment of Bank of Italy governor Mario Draghi as next president of the European Central Bank
Sovereign debt crisis dominates BoE’s first FPC briefing
European sovereign debt crisis leads discussions at Bank of England’s first interim Financial Policy Committee briefing; body issues five policy recommendations to Financial Services Authority
Belarus central bank first deputy appointed acting head
Belarusian first deputy chairman Yuri Alymov takes over from hospitalised central bank head Pyotr Prokopovich
Lagarde ready to get tough on Greece
Says she “will not shrink from the necessary candor and toughness” in discussions with European leaders
Euro area heads endorse Vienna Initiative-style agreement
European governments back official and private sector involvement to roll over Greek debt
IMF's Lipsky urges European cooperation
IMF acting managing director John Lipsky says greater cooperation in Europe will be key to post-crisis recovery
Canada’s Carney forecasts moderation in domestic growth
Bank of Canada governor Mark Carney says supply chain disruptions and higher energy prices will slow pace of economic growth in Canada
RBA’s Lowe on historical lessons from high inflation
Reserve Bank of Australia assistant governor Philip Lowe says people should not take low inflation for granted
Crisis raises risk of creditless recovery: ECB paper
European Central Bank study shows creditless recoveries are more frequent after a banking or currency crisis
Japan’s 90s QE programme too small: Fed paper
Federal Reserve study says Japan’s 1990s quantitative easing programme was not large enough to sufficiently impact bank lending
Spain’s Ordóñez emphasises need for labour market reforms
Bank of Spain governor Miguel Fernández Ordóñez says most pressing task for Spain lies in its labour market
Unconventional policies warrant inclusion in central banks' toolkits: IMF paper
Fund study says unconventional balance sheet policies in some cases warrant inclusion in central banks' toolkits
SNB’s Hildebrand identifies risks to central bank independence
Swiss National Bank chairman Philipp Hildebrand says central bank independence is crucial, but has its pitfalls
Financial institutions scramble to avoid Sifi label
Federal Deposit Insurance Corporation detects “absolutely no interest” from any financial institution in being named a systemically important financial institution
Kenya addresses currency concerns
Central Bank of Kenya to expand number of commercial banks with access to foreign currency window in bid to end speculative trading