Central Banks
Central Bank of Brazil: inflation tax risked hyperinflation
Brazilian central bank study shows the country risked weak hyperinflation in the past due to high income tax elasticity
BoE data shows May rise in lending levels
Bank of England data on lending shows moderate gains in amount of loans issued to individuals and households; lending still remains below pre-crisis levels
Malaysia’s Ibrahim calls for greater harmonisation in Islamic finance
Bank Negara Malaysia deputy governor Dato' Muhammad bin Ibrahim says companies can make efficiency gains through greater cooperation within Islamic finance industry
Cleveland Fed: Fed’s abandonment of FX controls justified
Cleveland Federal Reserve study says Fed was right to stop intervening in foreign exchange markets as it helped stabilise prices in long term
Governors gloomy on outlook for pan-African currency
South African, Nigerian and Ghanaian central bank governors say path to regional and continent-wide single currency littered with obstacles; single currency will not correct underlying problems
Greek debt crisis sparks widening of almost all global CDS spreads
Cost of protecting against a Greek default up 190% in three months to mid-June as CDS spreads widened for 93% of sovereign debt on back of sovereign debt crisis in Europe
NIESR director to succeed Kate Barker on MPC
Martin Weale set to join Bank of England’s Monetary Policy Committee in time for August meeting
IMF resumes financial aid to Ukraine
Fund approves new application for loans after funding was cut off in dispute over its burgeoning fiscal deficit
ECB handled Greek crisis well: CentralBanking.com readers
CentralBanking.com poll shows more than 40% approval rating for European Central Bank’s handling of the Greek debt crisis
Foreign holdings of US Treasuries rise as supply for agency securities runs dry
Fed data show official-sector holdings of US agency securities fell after 12 straight weeks of gains
Netherlands’ Wellink survives resignation calls
Calls for Netherlands Bank governor to quit followed damning report into the central bank’s handling of failure of DSB
Iran’s central bank needs greater independence: research group
An Iranian research centre says Iran’s central bank requires greater autonomy from government if it wants to battle inflation
Norges Bank – Annual Report on Payments Systems (2009)
Norges Bank says Norway’s payment system is secure but has room for improvement in cost-effectiveness
St Louis Fed: FOMC largely ignored Phillips curve framework
A St Louis Federal Reserve study on Fed transcripts shows the FOMC was split on whether to use the Philips curve in monetary policy decisions
IMF: FDI undermined competitiveness in central and eastern Europe
An IMF study on real effective exchange rates reveals large volumes of foreign capital flows reduced competitiveness in central and eastern and European countries
Central bank bill passed by Ireland’s lower house
Dáil TDs approve bill which will merge central bank and financial regulator by slim majority
Faith in Fed's omnipotence must be challenged, says Rajan
University of Chicago professor and former IMF chief economist Raghuram Rajan slams view that Federal Reserve can “wave a magic wand” to cure United States’ economic ills
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society