Central Banks
Central Bank of Turkey – Inflation Report (Q3 2010)
Central Bank of Turkey says recent figures have shown high inflation towards the end of 2009 to be a blip
Buba calls for Sarrazin to be sacked over racist comments
Bundesbank executive board votes unanimously in favour of removing Thilo Sarrazin; central bank takes firm line after Sarrazin’s anti-Semitic remarks spark outrage
Fed cannot bear full burden of job creation: Fisher, Plosser
Regional Federal Reserve presidents Richard Fisher and Charles Plosser say loosening monetary stance further will not cure unemployment ills; monetary policy no panacea for macroeconomic problems
Indonesia moots new rule to boost bank lending
Bank Indonesia to propose range of loan-to-deposit ratios to encourage lending; banks prefer to park deposits in money market due to perceived default risk
BoJ: Financial Markets Report
Stock market volatility, declining yields on government debt and money-market operations covered in review
Rajan, Krugman clash over Fed policy
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman lock horns over Federal Reserve’s loose monetary stance
FX market going global: BIS
Bank for International Settlements’ triennial survey of foreign exchange markets shows decline in prevalence of local transactions, dollar and sterling
Moral hazard not contained prior to crisis: Norges Bank paper
Norges Bank paper co-authored by Bank for International Settlements' Claudio Borio points to lessons from the Nordic experience
FOMC officials cite disinflation in explaining policy shift
Federal Open Market Committee minutes reveal officials see anaemic growth tempering price pressures
IMF’s Lipsky: five steps to systemic reform
First deputy managing director of the IMF John Lipsky summarises measures to safeguard stability
Afghan governor insists country’s biggest bank is solvent
Bank of Afghanistan governor Abdul Qadeer Fitrat refutes reports top officials at Kabul Bank have been fired due to corruption; stresses bank remains solvent as graft rumours threaten to spark run
Brown’s ex-spokesman denies Blair claim over Bank independence
Gordon Brown’s former spokesman Charlie Whelan says first Tony Blair knew about decision to grant Old Lady responsibility for setting rates was when Brown announced move after election
JP Morgan slashes commodity desks
Fate of other prop desks unclear ahead of enactment of Volcker Rule
Anti-Semitic remarks could end Sarrazin’s term at Buba
Bundesbank condemns executive board member Thilo Sarrazin for racist comments; will hold hearing before deciding on future
BoJ expands fixed-rate fund supply on growth, yen fears
Bank of Japan unveils six-month term to existing fixed-rate funds operation; facility to expand by $238 billion on fears of weak US growth, yen strength
Core principles mostly apply to micro lenders: Basel Committee
Basel Committee on Banking Supervision issues final report on applying core principles to microfinance providers; tweaks needed on credit risk, capital adequacy and risk management
Spanish debt office in negotiations on credit support annex thresholds
Government agency looks to alleviate funding costs for bank counterparties in swaps transactions
Focus on banks’ incentives must continue post-crisis: Bank’s Bean
Bank of England deputy governor Charles Bean says crisis focus on bank incentives must remain; financial market problems require macroprudential instruments
Debt to reserve ratio key indicator of country default: World Bank research
World Bank paper identifies ratio of debt to reserves as most important indicator of sovereign default