Central Banks
Israel justifies rate hold
Bank of Israel minutes flag economic uncertainty as factor behind Governor Stanley Fischer opting to hold rates
BoE’s Haldane: China must not overshoot on financial reform
Bank of England executive director Andrew Haldane says China must continue to promote patience while harnessing impatience
Bank of Israel: FX intervention forced shekel depreciation
Bank of Israel study says ad hoc purchases successfully depreciated the value of the shekel against the US dollar
ECB’s González-Páramo highlights flaws in collateral framework
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
Settlement system gets go-ahead from RBNZ
Reserve Bank of New Zealand and Securities Commission give “statutory backing” country’s third settlement system; system a joint venture between central bank and stock exchange operator
Banks need more time to reform pay standards: IIF
Institute of International Finance says lenders need more than year to bring pay standards in line with Financial Stability Board’s principles; regulators must speed up coordination efforts
Trichet to be first head of European Systemic Risk Board
European Central Bank president Jean-Claude Trichet will chair continent’s new systemic risk board until the end of his term; proposal reflects compromise between parliament and national governments
Inflation targeting survived crisis test: Norway’s Qvigstad
Norges Bank deputy Jan Qvigstad says increased transparency has been very valuable
Islamic banks affected differently by crunch: IMF
IMF research finds Islamic banks outperformed conventional rivals in 2008, but trend was reversed following year
Fuld and Fed’s Baxter at odds over Lehman failure
Ex-Lehman Brothers’ chief Dick Fuld blames Federal Reserve for failure of investment bank; New York Fed general counsel Thomas Baxter says central bank could not have provided liquidity lifeline
Bernanke: Fed won’t rule out leaning against wind
Regulation should be “first line of defence” against bubbles, but FOMC is monitoring financial imbalances
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