Central Banks
HKMA appoints PBoC’s Mu as senior adviser
Former People’s Bank of China director general Mu Huaipeng joins Hong Kong Monetary Authority in bid to boost mainland ties
Monetary policy did not cause crisis: Chile’s de Gregorio
Chilean central bank governor José de Gregorio points to financial innovation and liquidity transformation as chief causes of crisis; calls for multiple tools to protect both price and financial stability
Financial Stability Review – ECB
European Central Bank says bond purchase programme cut tail and contagion risk but eurozone governments have a sizable task ahead of them
Israel’s Fischer on inflation targeting
Governor of the Bank of Israel Stanley Fischer stresses achievements of inflation framework
Sarb defends amendment bill against investor attack
South African Reserve Bank refutes press reports that its defence of amendment bill fell short; maintains that same investors keep causing trouble
Iceland – Financial Stability Review (June 2009)
Central bank flags cautious signs for optimism but warns that more is to be done
New Japanese PM could pressure BoJ to loosen
Japan’s new prime minister and former Bank of Japan critic Naoto Kan hints at more accommodative monetary policy; analysts think central bank’s independence will not be affected
Indonesia's Nasution set to be made full governor
Bank Indonesia acting governor Darmin Nasution is likely to take on leadership officially after scoring sole nomination of the country's president; lawmakers view Nasution as a safe pair of hands
Sarb considering market operations overhaul
Deputy governor Daniel Mminele says South African Reserve Bank may make changes after encountering problems towards the end of last year
Mnyande on Sarb’s mandate and financial stability
South African Reserve Bank chief economist cites two biggest financial stability challenges facing central bank
Maastricht criteria tough enough to contain crisis threat: Cyprus
Central Bank of Cyprus paper finds risk of default zero if debt-to-GDP and primary surplus ratios remain below limits set out in Maastricht Treaty; paper mentions Greece and Italy as states where there is a default risk n
Pakistan’s governor quits; deputy named interim chief
State Bank of Pakistan governor Syed Salim Raza resigns; deputy governor Yaseen Anwar named acting head
Fed scoops prize for best swap lines: BIS
Bill Allen and Richhild Moessner study the effects of central banks’ swap lines and find those established by the Federal Reserve to provide dollar liquidity went furthest in achieving their aims
Weber’s defiance could help or hinder: analysts
Bundesbank president Axel Weber’s maintenance of principled objection to European Central Bank bond purchases could swing either way in his bid to succeed Jean-Claude Trichet
German rumours of French pact with ECB display tensions
Coverage of German magazine article alleging European Central Bank's bond purchase programme was aimed at helping the French indicative of fertile breeding ground for conspiracy theories
Rate move highlights gap between Russia and other Brics
Country remains in expansionary mode while fellow emerging markets start tightening due to structural and circumstantial factors
Estonia on the lookout for dud euro notes
Bank of Estonia begins training staff from commercial banks and larger retailers to spot fake euro banknotes