Central Banks
BoK’s Kim: Asia was well prepared for market turmoil
Bank of Korea governor Kim Choong-soo says Asian crisis taught region many lessons that helped prepare them in onset of the last crisis
Top US economic adviser Christina Romer quits
Chair of US President’s Council of Economic Advisers Christina Romer resigns, citing family reasons; thought to be interested in Janet Yellen’s post at San Francisco Fed
Europe has turned a corner: Trichet
European Central Bank president Jean-Claude Trichet says economy back on track; slower growth expected despite positive figures in second quarter
IMF’s Min on Fund’s role in safeguarding systemic risk
Dominique Strauss-Kahn's special adviser Min Zhu highlights excess liquidity, international interest rate differentials and systemic risk as future issues
New Turkish notes spark spike in printing costs
Central Bank of Turkey’s Annual Report shows improved lira notes caused banknote manufacture costs to leap by more than half; governor Durmuş Yılmaz praises inflation targeting framework
Greece passes first hurdle of bailout programme
European-IMF review of Greek economic programme says country is on track to receive second tranche of funds
CIC denies interest in UK football club: reports
Chinese sovereign wealth fund refutes suggestions that it is funding a bid to buy Liverpool Football Club
Ageing to drive down asset prices
Bank for International Settlements research says demographic trends will reduce house prices significantly
BIS: cross-border flows shaped by global and country specific factors
Bank for International Settlements study shows global and country specific risk factors explain cross-border bank flow patterns
RBI drastically cuts deputy governor Chakrabarty’s role
Reserve Bank of India removes five of deputy governor Kamalesh Chakrabarty’s nine portfolios; move linked to Chakrabarty’s out-of-turn comments on monetary policy
Pakistan set to appoint new governor in coming weeks
State Bank of Pakistan says new governor must be in place by beginning of September, but no frontrunners yet
Bair’s senior adviser leaves FDIC
Senior adviser to markets Joseph Jiampietro departs FDIC after less than 18 months
NY Fed to start second set of reverse repo tests
New York Federal Reserve will conduct further tests of reverse repurchase operations tool in preparation for eventual exit from monetary support; tests will involve agency MBS, unlike previous trial
Bernanke on why states face fiscal shortfalls
Federal Reserve chairman Ben Bernanke pins shortfalls on recession, legislation and pensions
Philippines’ Tetangco launches book on CB law
Central Bank of the Philippines governor Amando Tetangco praises in-house legal team
Bank Indonesia plans rupiah redenomination: reports
Bank Indonesia acting governor Darmin Nasution says redenomination of the currency should be inflation neutral
South Africa in fresh attempt to curb rand volatility
Ruling African National Congress will consider short-term capital inflows tax to curb rand volatility, currency’s strength; party questions merits of Sarb’s hard-won inflation targeting regime
Bank’s macro model takes a bruising
Former Bank of England economist says model misjudges trade-off between growth and inflation
Northern Rock’s bad bank posts first profit
Northern Rock Asset Management shows $267m profit for first half of year as split with so-called “good bank” lowers costs of funding; FSA slaps RBS with $9m fine for screening failures
National Bank of Slovakia – Financial Stability Report (2009)
National Bank of Slovakia’s Financial Stability Report for last year says risks to economy largely in household sector
Ex-deputy Muto endorses Bank of Japan’s anti-inflation targeting stance
Former Bank of Japan deputy governor Toshiro Muto says introducing inflation targets, as government wishes, will not cure deflation; analysts agree