Central Banks
Australia’s Stevens uncertain on response to commodity boom
Reserve Bank of Australia governor Glenn Stevens concerned over appropriate policy response to commodity boom
No energy pass-through to headline inflation: St Louis Fed paper
St Louis Federal Reserve study finds no pass-through effect from energy prices to trend headline inflation
UK FSA’s Turner calls for more radical reform
Financial Services Authority chairman Adair Turner argues that only if reform tempers the cyclical nature of credit and asset cycles can it truly be regarded as successful
Countercyclical buffer could be big help to output: BIS paper
Research by the Bank for International Settlements says Basel III’s countercyclical capital buffer could have “sizable” hand in preventing output falls
UK FSA’s Ross nominated for Esma executive role
UK Financial Services Authority's Verena Ross nominated for executive director role at pan-European markets regulator; banking, pensions authority to reveal their picks in coming week
€100 billion of caja loans could go bad: Bank of Spain
Bank of Spain releases details of savings banks’ exposures to real estate sector, levels of provisions; says reforms have addressed slew of underlying problems
Budapest wrests control to name external rate-setters
Hungarian lawmakers pass amendment to central bank law giving parliamentary committee right to appoint all four of external rate-setters on seven-strong Monetary Council
ECB calls for return to stricter growth and stability pact
European Central Bank calls for reversion of Stability and Growth Pact 2005 amendments, which relaxed compliance conditions; says sanctions on member states should be applied more stringently
CEPR paper identifies root cause of sovereign debt crises
Centre for Economic Policy Research study finds country indebtedness, quality of governance and ability to weather shocks are determinants of sovereign debt crises
RBI’s Chakrabarty: banks must embrace technology
Reserve Bank of India deputy governor Kamalesh Chandra Chakrabarty says technology should play a greater role in banks’ strategic plans
Wellink throws hat into ring as ECB race continues
Netherlands Bank president Nout Wellink signals interest in top European Central Bank role; stresses anti-inflation stance, opposition to E-bonds
G20 leaders pinpoint indicators for global imbalance guidelines
G20 central bankers, finance minister set out indicators to be used in assessing imbalances
FSB outlines progress on national resolution regimes
Financial Stability Board says work on building framework for national resolution regimes well under way; loss absorbency measures for global sifis on schedule
Bahraini bankers criticised central bank in lead-up to crisis: WikiLeak
WikiLeak alleges some economists and bankers dissatisfied with Central Bank of Bahrain's slow reaction to real-estate sector problems
Bundesbank slams idea of using ESM to buy government debt
Bundesbank says using enlarged European Stability Mechanism to buy government bonds of troubled countries will place more burden on taxpayers
Fed's Raskin on debit card reform
Federal Reserve board member Sarah Raskin outlines regulatory changes in debit card industry
Norway's Olsen: price stability remains central bank's priority
Norges Bank governor Øystein Olsen says price stability will remain primary monetary policy objective despite low inflation experienced in Norway over recent years
Monetary policy effects on housing bubble: Bank paper
Bank of England study measures impact of monetary policy and capital inflows on housing activity
Endogenous debt crises: CEPR paper
Centre for Economic Policy Research study says reckless borrowers pose greater threat of sovereign default than poor economic growth
A compromise candidate for the ECB?
Commentators divided on the viability of a compromise candidate for the European Central Bank presidency