Central Banks
Capital flows drive financial imbalances: IMF study
Fund paper says capital inflows are main factor behind financial imbalances, with effects worsened by insufficient oversight
Dublin deflects ECB criticism of bank law
Ireland’s finance ministry says central bank independence not threatened by bank bill; statement comes in response to wide-ranging European Central Bank critique of draft law
Philippines bats away attacks of new banknote series: reports
Central Bank of the Philippines’ deputy governor Diwa Guinigundo reportedly dismisses criticisms of incorrectly rendered native bird and map on new banknotes
Tributes pour in for euro architect Tommaso Padoa-Schioppa
Central bankers, private sector officials laud the contributions of Tommaso Padoa-Schioppa, who died on Saturday
Bank of Namibia – Monetary Policy Statement (December 2010)
Bank of Namibia’s monetary policy statement shows concern over expected weakness in future growth
Norges Bank on links between marginal value of cash and firms’ behaviour
Norges Bank research points to impact of marginal value of cash on businesses’ decision making
EFSF's Frankel: guarantees are "enough for the time being"
European leaders endorse EFSF model, as facility gears up for debut issuance of up to €5 billion
EU pledges to make bailout vehicle permanent
Meeting of European Union leaders concludes with a pledge to create permanent rescue fund for the eurozone
BoE, ECB announce euro-sterling swap line to aid Ireland
Bank of England agrees to provide sterling in exchange for euro up to a limit of £10 billion; move aimed at helping Central Bank of Ireland
King named vice chair of European Systemic Risk Board
Bank of England governor Mervyn King named Trichet’s deputy on ESRB
Another SNB council member to step down next April
Swiss National Bank’s Konrad Hummler to step down in April; move comes after Armin Jans tendered his resignation in November
Carney cautions on dangers of low rates
Bank of Canada governor Mark Carney warns that cheap money is far from viable as a long-term growth strategy
Boston Fed surveys evidence of a credit crunch
Boston Federal Reserve policy brief attempts to understand how supply and demand of bank business loans changed in period following Lehman Brothers’ collapse
Policy reform provided shelter from global storm: IMF paper
IMF research examines how monetary policy reform in Latin America enabled economies there to weather the global financial crisis
Basel III won’t be a problem if implemented correctly, says Bank of England
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
Bank’s Bean mounts QE2 defence
Bank of England deputy governor Charles Bean says criticisms that QE2 is inflationary, will spark inflows in emerging markets, are incorrect
Four steps to financial stability: Turkey’s Yilmaz
Central Bank of Turkey governor Durmuş Yılmaz says debt ratios, maturities, forex positions and exchange rate risk key factors
Frankfurt taps NCBs for €5 billion
European Central Bank says greater amount of capital required because of increased volatility
Brussels forges ahead with Sepa end-date proposal, despite differences
European Commission proposes deadlines for national credit and debit transfers to migrate to Sepa system; move could divide stakeholders
Posen forecasts inflation ‘well below’ Bank’s latest estimate
Bank of England external Monetary Policy Committee member Adam Posen points to “empirical regularities” to explain why inflation could dip to less than 1% in years ahead