Central Banks
The effect of China's fiscal stimulus on output
China's fiscal spending of Rmb2 trillion ($293 billion) in 2009 could lead to Rmb1.7 trillion ($249 billion) direct increase of output, a new paper from the Hong Kong Monetary Authority posits.
A model for market expectations about inflation
The Bank of Spain has devised a new model for market expectations about the inflation rate.
Monetary union could improve British stability
The British economy's stability would be enhanced by euro adoption, a new paper from the St Louis Federal Reserve posits.
G20 protests converge on Bank of England
The Bank of England on Wednesday was surrounded by anti-capitalist protesters, converging on Threadneedle Street to vent their anger at the crisis on the eve of the London G20 summit.
Mexico may tap Fed, IMF credit lines
Felipe Calderon, Mexico's president, said on Tuesday that the country was eligible to take a $40 billion credit line with the International Monetary Fund (IMF) as speculation mounted that the Bank of Mexico would soon use its $30 billion arrangement with…
A guide for an ideal communique
For Marc Uzan, an executive director on the Reinventing Bretton Woods Committee, the perfect G20 communique would note the long-term ramifications of the crisis.
IMF to enhance borrowing terms for the poor: Lipsk
The International Monetary Fund (IMF) is redesigning its lending policies for low-income countries, said John Lipsky, the first deputy managing director of the fund.
Canada's Carney: don't cut off banks from markets
Banks should not be divorced from the markets to avoid liquidity problems. Instead the perimeter of regulation should be expanded, said Mark Carney, the governor of the Bank of Canada.
China vows to expand currency-swap operations
The People's Bank of China pledged on Tuesday to expand its network of swap lines with other central banks days after agreeing a Rmb70 billion ($10.2 billion) arrangement with Argentina.
Euro inflation at new low, OECD wants more easing
The OECD on Tuesday urged the European Central Bank (ECB) to cut rates further and apply quantitative easing in a bid to stave off a severe economic contraction. The calls came as it emerged eurozone annual inflation in March had dropped to its lowest…
Don't rely too heavily on capital-adequacy models
Supervisors should guard against placing undue reliance on the overall level of capital implied by economic capital models in assessing capital adequacy, a new paper from the Bank for International Settlements posits.
Sepa project must be extended
The scope of the Single Euro Payments Area (Sepa) project must be extended to include standardisation in the field of value-added services, such as e-invoicing, a new paper from the National Bank of Denmark states.
Turkey justifies cut to record low
The Central Bank of Turkey cut rates by 100 basis points to an all-time low earlier this month on signs that the global economic outlook continued to deteriorate and the depression was expected to be long lasting, the minutes for the 19 March meeting…
A solution to the reserves riddle
There has been an anomaly between what is in the national interest and what is in the global interest on the issue of reserves. However, this does not have to be so.
Soros urges G20 to agree on SDR reallocation
George Soros, one of the world's most renowned hedge-fund managers, has called on G20 leaders to endorse the reallocation of rich country's SDR quotas with the International Monetary Fund (IMF).
A proposal to aid emerging-market stability
Ousmene Mandeng, the head of public sector investment advisory at Ashmore, an asset management firm, believes there is a more efficient way for emerging market central banks to use their reserves to stave off a disorderly unwinding of their capital…
Spain appoints new deputy amidst first bailout
The Spanish government named Francisco Javier Ariztegui as the Bank of Spain's new deputy governor on Friday.
SWFs look beyond Santiago
Although agreement on the Santiago Principles for sovereign wealth funds represents a remarkable achievement, the proof of their effectiveness will come in the implementation phase that has now started.
ECB issues Sepa "expectations"
The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Tucker: macroprudential is more than macro + micro
A macroprudential approach to financial supervision requires more than simply bringing together the central bank's macroeconomists and the regulator's line supervisors, said Paul Tucker, a deputy governor of the Bank of England.
Limits to safety net support - Richmond's Lacker
It is of paramount importance to clearly define the boundaries of future safety net support, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Europe's and Japan's fiscal actions procyclical
Discretionary fiscal policy tended to be procyclical in continental European countries and Japan, a new paper from the International Monetary Fund posits.
Cooperation between leaders and banks essential
As the world responds to financial and economic turmoil, the industry and authorities must work together as never before, says Angela Knight, the chief executive of the British Bankers' Association (BBA).